The Home Office has published a list of endorsing bodies permitted for Innovator Visa application. Please use this link to check the eligible bodies which is updated regularly.
Even though there is no specific requirement of the capital invested in the business, however, one must have a business idea with the possibility of expansion in the future. There is also a mandatory requirement of a business idea, endorsed by an approved body.
The applicants who wish to enter the UK under an Innovator visa must satisfy the following criteria:
Successful Innovators are granted valid visa for 3 years at a time and can bring their family members (spouses/partners and children under18) to the UK. Innovators must abide by set of conditions to stay. They need to work for their business and any other business that they have established in the UK and will be allowed to engage in employment outside their business but only under secondary employment in a skilled role (at least RFQ Level 3).
After 3 years, Innovators can apply to extend their stay for a further 3 years or settle permanently in the UK. There’s no limit on the number of times you can extend. If the innovator founder is applying for an extension, they are subject to being re-endorsed each time.
Earlier there was an extensive list of endorsing bodies to approve the business plan for the Innovator Founder Visa but now the UK government has set a limitation and appointed the following list of bodies for the same:
– The Global Entrepreneurs Programme (GEP) (by invitation to participate only)
The application fee for overseas applicants is £1,191 and for candidates within the UK it is £1,486 when applying for Innovator Founder Visa and once and if it is endorsed then there has to be two meeting with the endorsing body which will cost £500 plus VAT per meeting. There is also an endorsing fee of £1000 plus VAT that the candidate will need to pay.
Our Immigration lawyers at City Legal have immense experience in assisting entrepreneurs in setting up and expanding their business in the UK. We have also partnered with industry experts who work with us on a regular basis to assist our clients in preparing their endorsement applications. We can introduce you to the endorsing body and make sure you meet each requirement timely. We are a multi award winning law firm and pride ourselves in being approachable, innovative and always going that extra mile to make sure our clients receive the individual attention they deserve. Our Immigration team maintains a high reputation and is committed to provide clear, transparent and reliable advice to our clients.
The Home Office has published a list of endorsing bodies permitted for Innovator Visa application. Please use this link to check the eligible bodies which is updated regularly.
It is possible for the applicants to apply as part of a team and share the business plan and idea; however, each applicant must independently obtain the required endorsement from an approved endorsing body.
Innovator visa holders must stay in contact with the endorsing body at given checkpoints and ensure that they are satisfied with the progress of the business. Failing to do so may result in the endorsement being withdrawn resulting in the leave being curtailed.
Innovator Founders need to work for their business and any other business that they have established in the UK and will be allowed to engage in employment outside their business but only under secondary employment in a skilled role (at least RFQ Level 3).
Residents outside the UK and ones who have lived in the UK for less than 12 months need to show £1270 for self-support, an additional £285 for the dependant partner, £315 for the firstborn and £200 each for any other child. The funds must be held for a 28-day period prior to the date of application.
