How to get an endorsement for a UK Innovator visa?

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In this blog, our UK Visa Expert has explained the UK Innovator Visa, the process to apply for an Endorsement for a UK Innovator visa, the benefits of Innovator Visa UK and so on.

• The UK Innovator Visa is an ideal route for entrepreneurs who have innovative business ideas
• Along with the innovativeness in the plan, the business/business idea should also be viable and scalable
• It does help the application if the applicant has some industry/domain experience

To qualify for a UK Innovator Visa, your business/business idea must be Innovative, Viable & Scalable in nature. To explain these features in brief:

You must have an innovative, original business plan that meets new or existing market needs and/or creates a competitive advantage.

You must take an active part in developing the business and must possess the necessary skills, knowledge, experience, and market awareness to run the business successfully.

Your business plan must have the potential to create employment (jobs) for the citizens of the UK and a development edge in the national and international markets

Along with these requirements, you must also receive endorsement for your business plan from an approved endorsing body in the UK. It is mandatory that you have £50,000 in investment funds for your new business set up in the UK, and at least £1,270 in a personal bank account for 28 consecutive days before the application date, to maintain your expenses in the UK after arrival.

UK Innovator Visa endorsement comes in 3 types –

• You must have £50,000 in investment funds for your new company set up in the UK.
• You must either have not previously had a Leave to Enter in the UK on a UK Innovator Visa OR must pursue a different business venture from the one that was assessed in your previous UK Innovator Visa endorsement.

• This is for the applicants who had a Leave to Enter in the UK, either on a UK Start-up Visa or an Innovator Visa UK and are still pursuing the same business venture that was assessed in their previous endorsement that led to their grant of leave.
• These applicants DO NOT need to show £50,000 in investment funds.

Applicants must spend at least 3 years in the UK on a UK Innovator visa and achieve a level of business success that meets the endorsement criteria for settlement.

• Endorsing bodies are organisations that have been approved by the Home Office to assess the UK Start-up visa and Innovator visa UK applications and determine which business plan has the greatest potential to thrive in Britain’s market.
• A successful UK Innovator visa application will have checkpoints listed by the endorsing body to keep a tab on the business progress every 6, 12, and 24 months.
• Obtaining an endorsement is important not only during the application process for the visa but also after the application is approved.
• Throughout the visa duration and at the planned checkpoints, the Endorsing Body can provide assistance, knowledge, and experience.
• Guidance coming from the Endorsing Body will offer the company a boost, allowing it to reach its full potential as it seeks to expand and become more sustainable in the UK. The one-on-one assistance provided to each endorsed business is crucial for its success.

• Bring a partner and children (under 18 years) to the UK.
• Get a UK Innovator Visa Extension for 2 years. Also, no limit on the number of times one applies for a UK Innovator Visa Extension.
• UK Innovator visa leads to Permanent Residence i.e. Indefinite Leave to Remain (ILR) in the UK once the applicant has been in the UK for 5 years.