The UK innovator visa replaces the Tier 1 Entrepreneur visa and has been described as: “A route for more experienced business people looking to establish a business in the UK”.
The very first step for an Innovator Visa application process is to secure an innovator visa endorsement from either of the UK Innovator Visa endorsing bodies appointed by the government. The endorsing bodies help the Home Office determine an appropriate business plan that can help the economic growth in the UK.
The focus while determining a strong business plan is to understand whether the business proposal is innovative, viable and subsisting in nature.
The application processing and decision-making remain with the individual UK Endorsing Bodies, however the Home Office has stated the following outline tests to determine a suitable business plan:
It is very rare for an endorsing body to provide investment funds, therefore while applying to an endorsing body an applicant has to show availability of funds worth £50,000 to invest in their business from any legitimate source. The applicant must provide specified evidence to demonstrate that they meet this requirement.
In case of a new business, an endorsing body reviews the application with regard to the eligibility tests and checks for innovation, viability and scalability. Once an endorsing body provides an endorsement letter in support of an applicant, the applicant must apply for the Innovator visa within 3 months of receiving the said letter.
Considering the absolute uncertainty that surrounds the innovator route as the new rules and guidelines are put into practice and are yet to be tested, getting professional help in understanding the entire process is advisable. Setting up the right business plan and meeting all Home Office requirements are important considerations for the UK Innovator Visa. If you need assistance with regard to an Innovator visa application for UK, you can book an appointment with our UK Innovator Visa Consultants in India at The SmartMove2UK [a division of SmartMove Immigration] by calling +91 9819 127 002 or [fusion_tooltip title=”Email to firstname.lastname@example.org” class=”” id=”” placement=”top” trigger=”hover”]email@example.com[/fusion_tooltip] to book an appointment.
You can find our presence in New Delhi, Chandigarh, Bengaluru as well as Mumbai being our registered office along with international boundaries extending to London.
The SmartMove2UK (a division of SmartMove Immigration) has been in the UK Visas and Immigration consultancy field of expertise for more than 12 years. In these 12 years we have seen thousands of clients through their UK Visa application process from start to finish. With a 99% success rate, you better believe that if you apply for your visa with SmartMove assistance, you are almost certain to reach your destination, with minimal hassles or worries.