Introduction
Start-up Visa: This two-years visa is for the new entrepreneurs who seek to establish a business in the UK for the first time. The applicants must have an innovative, viable and scalable business idea.
Innovator Visa: This three-years visa is for the experienced entrepreneurs who establish a new or current innovative business in the UK. This visa can apply for a Permanent Residency after the applicant has lived in the UK for 5 years and meet certain requirements.
Advantages
Applicants who do not have business experience can apply for a “Start-up Visa” to set up and operate a business in the UK. After then apply for an “Innovator Visa” to reside in the UK as well as operating the company. Besides, applicants who have been granted these two visas can bring their spouse and children (under 18) to the UK.
Program Requirements
Both visas require applicants to be at least 18 years old, meet the English language requirement of CEFR level B2 (IELTS scores of 5.5-6.5), and the following requirements:
Start-up Visa
- Business idea must be innovative, viable and scalable
- Assessed and supported by an approved endorsing body with a letter of endorsement.
Innovator Visa
- At least GBP 50,000 in an investment fund
- The business or business idea endorsed by an approved body
- Applicants can apply for settlement once lived in the UK for 5 years while the businessfulfills at least 2 items below:
- Investing at least GBP 50,000 into a business;
- Doubling the business’s customers within the most recent 3 years;
- Applying for intellectual property protection after research and development activity;
- Generating annual gross revenue of GBP 1 million in the last full year;
- Generating annual gross revenue of GBP 500,000 in the last full year with at leastGBP 100,000 from exporting overseas;
- Creating at least 10 full-time jobs for resident workers;
- Creating at least 5 full-time jobs for resident workers which the average salary of at least GBP 25,000 a year;
Start-up / Innovator Team:
Both visas can form a team with other innovator applicants, and each applicant must meet the above requirements.
