Do you wish to set up your unique business ideas in the UK? Then, you are in the right place. Check the guide below to see how you can apply for the UK innovator visa.
Table of Contents
About the UK Innovator Visa
The UK innovator visa is a type of visa that helps you set up and run your business in the UK. For you to qualify for this type of visa, your business idea must be unique, that is, it must be entirely different from other businesses already available in the market.
Also, your business must:
- Meet the eligibility requirements listed below,
- Be endorsed by an endorsing body.
What Can I Do With an Innovator Visa?
With the UK innovator visa, you can:
- Travel and return to the UK
- Set up a business or many businesses
- Come along with your partner and children as your dependants.
Eligibility Requirements
- To qualify for the UK innovator visa, you must prove that your business is new. You cannot join a business that is already trading.
- Also, you must prove that your business is capable of growing.
- Lastly, you must be able to read, write, and speak English very well.
What Documents Do I Need for Application?
- Endorsement letter: to apply for the UK innovator visa you must provide an endorsement letter by an endorsing body. This is to show that the body has evaluated your business.
- Passport: a valid passport or other proof proving your nationality and identity
- Bank statements: proving that you have held at least £1,270 in savings in your bank account for 28 days before applying.
- Proof of investment funds.
- Proof that you are fluent in the English language.
The above documents are the main ones you need to provide. Other documents include:
- Certified translation for documents that are not in English or Welsh.
- Tuberculosis test results if you are from a country that takes the test.
How Much Does the UK Innovator Visa Cost?
The cost of an Innovator visa varies depending on your situation and where you apply.
- Applying for yourself = £1,021 (outside the UK)
- For your children and partner = £1,021 each person (outside the UK)
- Extend your visa = £1,277 (inside the UK)
- Extend your children or partner’s visa = £1,277 (inside the UK)
Other fees include a healthcare surcharge.
How to Apply for Innovator Visa?
Before you apply for the innovator visa UK, you need to make sure you meet the eligibility and provide the necessary documents. (check out the documents above).
Then, go to www.gov.uk for your application.
