Our attorneys at The SmartMove2UK (a unit of SmartMove Immigration), who have had more than a decade of experience in sending more than 2000 individuals to the UK, have put down an Innovator Visa UK guidance 2020 – describing the process of applying for this newly launched visa that has replaced the traditional Tier 1 Entrepreneur Visa for businesses.
For an applicant to be granted an innovator visa, they must be able to prove that their business plan that is innovative, viable, and scalable; must have evidence of structured planning potential for job growth into national and international markets.
An applicant for an innovator Visa must be able to provide evidence of access to GBP 50000 for investment in the business. They can also evidence instead that they have already invested the said amount in the business.
Note: Unlike the now obsolete Tier 1 Entrepreneur Visa category route the innovator Visa does not allow two individuals applying for the Innovator visa for the same business. To share the investment funds.
An applicant must have an endorsement letter from a UK approved endorsement body to turn in with their application.
The evidence provided by applicant must be able to convince the Home Office that they are genuine, do not intend to breach immigration law, and any money that they are evidencing is available for the purposes described in their Innovator Visa application.
Note: An innovator Visa applicant might be invited for a credibility interview.
The applicants must be at least 18 years of age; be able to speak English to a Level B2 CEFR and prove that they have held at least GBP 945 with them legally for a consecutive period of at least 90 days.