Since 29 March 2019, Tier – 1 Entrepreneur Visa has been replaced by Innovator and Start-Up visa which will allow you to come to the UK to start a new business by investing £50,000. Under the new rule, the amount is reduced from the previous £2,00,000 to £50,000. This is a welcome change and enables the genuine applicant to start a business in the UK and leave hallmark of skill in the sector the applicant shall develop his business.
You can find the endorsing bodies from the list shown here in this link: GOV.UK https://www.gov.uk/government/publications/endorsing-bodies-innovator . It is advisable that you get your doubts clarified by asking them very specific questions so that you are absolutely clear what you are going to do. The endorsing body shall assess your business plan in order to see if it is innovative, viable, and scalable. The endorsing body by giving a letter of approval to you shall confirm endorsement which you will include in your visa application. The letter may or may not contain that you have the necessary amount of £50,000 to do your business.
Innovator visa is a unique opportunity for someone who is exceptional and ambitious to rise in fame at a global scale in the easiest possible way. It is important to remember that endorsing bodies as a whole does not follow any strict and uniform criteria and each body has its own way of assessing your business plan. While the endorsing body is responsible for endorsing your business plan, the Home Office remains in control of granting you a visa. This is also a practical way that your business plan shall be assessed by someone who has the skill of assessing it. If your plan is genuinely realistic and shall be workable in the UK setting, endorsement of your business plan is extremely likely.
English language requirement under Innovator Visa is B2 which is generally higher than other routes. You should also be able to show that you have the required amount of money for your maintenance. You will also be allowed to bring your family members with you.
Under Innovator route, you will be granted visa for 3 years initially and then another 2 years extension. After completing 5 years in this route, you can apply for Indefinite Leave to Remain (ILR). It is to be remembered that at the leave to remain application after 3 years under this route, you need again endorsement from the endorsing body.
In Immigration 2 UK, our tailored-services are provided keeping in view your potentiality as an innovator. This includes not only your visa application but also to guide you through in the best possible way to meet specific needs you will be having in course of your visa application. You can contact us by skype, WhatsApp or by phone.