Innovator visas were brought in with the aim of attraction people with substantial amounts of money to invest in innovative businesses which could be scaled rapidly. It aims to keep the UK at the forefront of global innovation.
For those who are less experienced the start-up visa might be more appropriate.
- Skills: You must have your business or business idea endorsed by a recognised endorsing body.
- Investment amount: At least £50,000 in investment funds unless your business is already established and has been endorsed for a previous visa, you’ve changed your business and already agreed it with your endorsing body. You can form a team with other investors but you cannot share funds. You must have at least £50,000 available per applicant.
- Funding yourself: Have at least £1,270 in your bank account to support yourself when you arrive. You cannot use your investment funds to support yourself.
- Language skills: You must prove your ability to speak English by passing a secure English language test, having a GCSE, A level, Scottish National Qualification level 4 or 5, Scottish Higher or Advanced Higher in English, or having a degree level qualification which was taught in English.
- Length of stay: Three years. You can apply to extend your visa after three years and can do this as many times as you like. After three years, you may be able to apply for permanent settlement.
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