When you hear the word UK Innovator Visa, what comes to your mind? For the sake of those just hearing the word innovator visa for the first time, it is for experienced businesspersons seeking to establish a new business in the UK.
This innovator visas are valid for 3 years and can lead directly to indefinite leave to remain in the UK. Innovator visa applicants can bring their partner and any children under the age of 18 to the UK.
UK Innovator Visa
UK is one of the most developed countries that attracts millions of people from all over the world. People visit the UK for a variety of reason. Some dream to explore their cities and culture, other visit UK for a variety of reasons.
Above all, there are various ways to obtain a visa to the UK. But in this case, we are going to be considering the UK innovator visa. The UK Innovator visa is designed for those who have innovative business ideas in their mind. These people can and should start innovator visa applications to be eligible to start their businesses in the UK as well. In this post, you will be seeing information’s on how to get a UK visa, the eligibility and policy.
What is UK Innovator Visa?
The UK innovator visa is a type of visa that is essentially a visa that opens door for innovator businesses. You can apply for innovator visa if you see the approval of one of the endorsing bodies.
You should also start a business that is no other like exists in the UK. It should be different from ones in the UK.
UK Visa Policy
The UK has set up its visa policy which defines regulation on entries. According to the UK’s visa policy, the visas are categorized with respect to their characteristics. But to make it simple, we can divide them into two groups, short-term and long-term visas.
Short-term visas are the ones that do not exceed travels 12 months. and long-term visas are vice versa. To apply for any of this visa it will be an online process and it depends on your nationality.
UK Visa Requirement s for Innovators
There are requirements which are the main factor for applicants to realize their dreams. Below are the requirements for UK visa innovators.
- You will have to fil out the application form through online system
- In the form, you will also pay fees. Once your application is done, it will be directed to the corresponding application center.
- Submit documents that verify your identity
- Submit your previous travel documents includes expired passports.
- You should present your endorsement letter provided by an endorsing body.
- you should have 945 GBP in your bank account which should stay in the bank account for at least 90 days unless you have a sponsor (A-rated) who can do the same for you.
- If you are applying from a country that you are not a citizen of, then you should present confirmation of legal residence.
- You should not book accommodation till you get the visa.
- Nationals of some countries will need to present the results of tuberculosis tests.
Once you meet the above requirement, you should also know that the UK innovator visa success rate is high and still highly competitive.
UK Visa Application for Innovators
The application will be addressed through the internet to the official government platform, but the process will depend on where you live.
There are three routes, which includes
Applications from outside of the UK
When apply for this one, you should:
- be older than 18
- Meet the language requirements
- be able to economically sustain yourself.
Applications from Inside of the UK by extending current visas
If you want to start a business in the UK, then you should have:
- maintained funds worth at least 50000-pound sterling.
- You will not be asked for any funding if you have already a business that has been endorsed.
If you want to extend your current Innovator visa, then you should meet eligibility requirements.
Applications from Inside of the UK by switching the visas
If you want to switch to an Innovator visa from other visas, then you can start an innovator visa application if you are eligible.
Nevertheless, you cannot switch to this visa type from the following visa types; visit visa, short-term student visa, parent of a child student visa, seasonal worker visa, a domestic worker in a private household visa.
UK Innovator Visa fees, and Processing Time
The visa fees changes depend on some factors. These factors indicted the number of people applying with you, which visa route you have taken, tec.
Alone from outside of the UK, the fee will be equal to 1021 pounds sterling. If you have partner, then you have to double the price. Also, if you are extending or switching to an Innovator visa, then it will be 1277-pound sterling. If you have a partner, then you have to pay double the price.
NOTE: you will be asked to pay for the healthcare surcharge. The price will be reduced by 55 pounds sterling if you are from one of the countries. Iceland, Austrian, Belgium, Croatia, Republic of Cyprus, and more.