Innovator Visas

The Innovator Scheme allows talented entrepreneurs with proven business experience to come to the UK to set up in business based on an innovative idea. There is no requirement to provide a large monetary investment. Your business will need to bring economic benefit to the UK. This scheme is tailored to those in the industries of science, information technology (IT), and the telecommunication sectors, but is also open to those from other industries.

Apart from your ability to carry out your plans, you will also need to create at least two full-time jobs during your first year of trading, and you will need to have funding agreed in principle, with your own stake being no less than five percent.

Nationals of Bulgaria, Romania and Turkey, the countries that have signed the European Community (EC) Association Agreement, do not have to fulfil some of the requirements such as that of creating full-time employment for two others. However, you will still need to show that you have a realistic business plan and sufficient funds to maintain and accommodate yourself until an adequate income can be derived in the UK. Please see our EC Association Agreement page for further details.

Eligibility

To qualify for the Innovator Scheme you must have enough money to finance the business for the first six months after your arrival in the UK, without needing to take other employment outside of your business venture. You must have adequate reserve funds until your share of the business can generate such an income.

Furthermore, you must be able to maintain and accommodate yourself and any dependants joining you adequately without recourse to public funds.

 

Under the points based application, you will need to earn at least 15 points for your business experience and qualifications, at least 30 points for the degree of innovation and the economic benefit, and at least 15 points for the viability of your business plan.

Business experience and qualifications

Points can be earned from business or management experience, experience of at least a year in the proposed business area, work or research experience in the proposed business area, experience in the UK or in exporting to the UK, or experience in starting up a new business.

Points can also be earned from qualifications or relevant references.

Viability of your business plan

Financial viability points can be earned from start-up capital available for the business or references from experts in the proposed business area.

Commercial and technical viability and management plan points can be earned from Market research or contact with potential clients, positive commercial reference from an expert in the proposed business area, positive technical reference from an expert in the proposed business area, or details of a management team.

Degree of innovation and economic benefit

Jobs and skills points can be earned from the number of science or technology graduates who will be employed in the business, or the full-time jobs created in the first twelve months.

Innovation points can be earned from intellectual property (IP) rights to be used in the business, planned investment in research and development in the first twelve months, the introduction of new technology, processes or products to the UK, the establishment of a business primarily internet based, or a business that will increase the level of ecommerce activity in the UK.

Business plan

The viability of your business plan is vital to your application. Your business plan will need to detail your proposed innovation, funding and accounting details, the proposed management team structure, and a marketing strategy. You will also need to provide supporting documentary evidence to reinforce claims made in your business plan.

Your business plan will need to include a business proposal, including innovative aspects, such as the introduction of new technologies, products, or services. The plan will also need to include the proposed company's legal structure, proposed management team structure, proposed sources of funding, marketing plan, cash flow forecast for at least 18 months, number of jobs to be created, and their associated skill levels.

A business plan will be central to your application. It needs to show a detailed mission statement, ownership and accounting information, and financial projections. It would be beneficial to also include forecasted Research & Development expenditure for at least 18 months and a risk assessment.

Applications will also need a variety of supporting evidence. Examples of documents that may be required include a third party report detailing the viability of your proposals, commercial references, evidence of market research, evidence of any R&D already carried out, technical and scientific reference documentation and specifications, and correspondence with potential clients, distributors, agents and other relevant parties.

CV

Your CV should include details of positions held, including responsibilities, achievements and entrepreneurial experience, degree level qualifications or their equivalent, post-graduate or professional qualifications, R&D experience, and membership with professional/academic bodies.

You will also need to provide supporting documentary evidence to reinforce claims made in your CV.Examples of documents that may be required include employer references provided on company letterhead, registered accounts and trading records if you managed your own business already, certified copies of professional/academic transcripts and certificates, evidence of membership with professional/academic bodies, R&D notes, publications and patents.

How do I apply?

If you wish to live in the UK based on the Innovator Scheme, then you must obtain Entry Clearance before travelling to the UK. You will need to apply for Entry Clearance at a UK Embassy, British High Commission or Consulate in your country of residence or nationality. You may be required to undertake an interview.

A successful application will allow you to stay in the UK for an initial period of up to 18 months. After that you will need to apply to extend your stay.

You will have to satisfy the entry clearance officer that there are no reasons to refuse you entry on the grounds of your character, your criminal records, or your behaviour.

You will also have to satisfy the entry clearance officer that you fulfil the aforementioned criteria for the Innovator Scheme. Once in the UK you will be able to market your idea and attract a sponsor if required. The business does not need to start until you have entered the UK.

If you are currently in the UK on another type of visa, we can still prepare your application for you, but once it is complete you may be required to return to your home country to apply for entry clearance as a Business Person. There are exceptions to this general rule, which may allow you to change your current visa status to an Innovator Scheme Visa from within the UK.

Can I extend my visa?

At the end of the initial period, the visa can be extended. During this time you need to have created the required jobs. The extension application will need to be accompanied by documentation showing business progress. If your business interest remains viable the Home Office will normally grant a three and a half-year extension to your visa.

fastUKpermit can assist you with all aspects of the application.

Can I stay in the UK after five years?

On completion of five years in the UK on your visa, you may be entitled to Indefinite Leave to Remain (ILR), more commonly known as settlement or permanent residency, should you wish to continue your stay in the UK.

If you do not meet the criteria for ILR at the end of five years, you may be eligible for an extension of stay on your original visa.

After a further year of ILR, you may be eligible for UK Naturalisation, more commonly known as Citizenship.

Who can accompany the holder of an innovator scheme visa?

A spouse or an unmarried partner, and children under the age of 18 may accompany you to the UK as dependents. Dependents are allowed to stay in the UK for the same period as the principal applicant. There are usually no restrictions on dependants working in the UK.

Dependants are eligible to free health care provided by the National Health Service. Children entering the UK as dependants are entitled to a free public school education.

Visa Service

fastUKpermit will assist you in all aspects of your application. We will assist you with documentary evidence requirements, including drafting and presentation.

We will assist you in completing a successful business plan based on your research and expertise. We are here to thoroughly assess and assist you in maximising the impact and effectiveness of your business plan, ensuring that it is both well thought out and realistic.

You are advised not to proceed with an application if you are unsure whether you qualify or not. If you are interested in taking this further please contact us now.