In order to be eligible for the Innovator Visa, you must demonstrate that your business idea is new, innovative, and viable. Generally utilised by experienced business professionals, applicants can present a new business idea in any sector and work individually or as part of an entrepreneurial team.

If you feel that the Innovator Visa is right for you, you must also meet the following criteria:

• You are at least 18 years old
• You have at least £50,000 available to invest in your UK business or have invested this amount already
• Prior to your application, you have been endorsed by an approved UK endorsing body
• You have an endorsement letter from the aforementioned approved body that was issued no longer than 3 months prior to the date of your application
• Your intention to undertake the work detailed in your application is genuine
• You are competent in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening and speaking)
• If you are outside of the UK or you have been in the UK for less than 12 months, you have at least £1270 to support yourself, with the additional £285 for a dependant partner, £315 for a first child and £200 for each additional child

We understand that the legalities surrounding immigration law can be complex which is why our Innovator Visa solicitors are more than happy to answer any questions you may have.

For additional information on the UK Innovator Visa requirements and your eligibility, please contact us directly and we will be happy to talk you through your specific case.

Prospective applicants often query what the relevant threshold for innovation is in order to meet the requirements. There are varying definitions according to the Immigration Rules:

“(a) the applicant must have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage

In our opinion, a useful definition of innovation would also be where an applicant:

Intends to disrupt the market in which it operates in based upon an advancement which creates a competitive advantage.

The business must intend to launch a new idea in the UK. This could be by way of a new product or service that does not exist in the UK market.

The idea can also be innovative because it intends to provide a service or develop a good with a new approach e.g., to use data collection, AI or new technology to give the business a competitive advantage. You should be able to coherently explain why your business idea is different from similar businesses that already exist and why that difference will create a competitive advantage.

The scalability of the business is an important factor when applicants approach settlement on the Innovator visa route. It is therefore imperative for the business plan to forecast how the business intends to meet two of the following five requirements:

• At least £50,000 has been invested into the business; or
• The number of customers has at least doubled in the most recent three years and is higher than the mean number of customers for other UK businesses offering comparable main products or services; or
• The business has applied for intellectual property protection in the UK; or
• The business has generated a minimum annual gross revenue of £1 million in the last full accounting year; or
• The business had a minimum annual gross revenue of £500,000 in the last full accounting year, with at least £100,000 from exporting overseas; or
• The business created the equivalent of at least 10 full-time jobs for settled workers; or
• The business has created the equivalent of at least 5 full-time jobs for settled workers, each of which has a mean salary of at least £25,000 a year gross pay.