Is 2020 the year you plan to launch your business on the UK market? If you are from outside the European Economic Area, the Startup or Innovator Visa provides a route not only to enter the UK, but to work towards Settlement and British Citizenship.
The Startup Visa and Innovator Visa were launched in March 2019. They replaced the Tier 1 Graduate Entrepreneur Visa and the Tier 1 Entrepreneur Visa respectively. The new visa categories were introduced following a 2015 review by the Migration Advisory Committee.
The eligibility requirements for getting an Innovator Visa or Startup Visa are as follows:
Innovator Visa
Both Innovator and Startup Visa applicants will be assessed on the following three merits:
You will also need to show:
Start-up Visa
The Start-up Visa is for people who are at the initial stages of building their business.
The same eligibility requirements apply as listed above. However, you are not required to have £50,000 in investment funds.
An endorsing body for a Startup or Innovator Visa is required to issue endorsements to visa applicants based on Home Office guidance. Furthermore, they are required by the Home Office to:
If you have an Innovator Visa, the endorsing body will provide further endorsement if you apply for an extension and/or Indefinite Leave to Remain.
Startup Visa
The endorsing body must provide you with a letter confirming they have assessed your business on the following criteria:
Innovation | Viability | Scalability |
Does the applicant have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage? | Does the applicant have, or are they actively developing, the necessary skills, knowledge, experience and market awareness to run the business successfully? | Is there evidence of structured planning and of potential for job creation and growth into national markets? |
To measure your business venture against the above criteria, the endorsing body must consider:
It is vital to understand that it is not enough for your business to merely compete against existing traders - it must offer something unique.
Innovator Visa
The guidance states that although the endorsement criteria for Innovator Visa applicants is similar to that of a Startup Visa applicant, there is a greater expectation of skills and experience applied to Innovator Visa submissions.
The assessment criteria for an Innovator Visa are:
Innovation | Viability | Scalability |
Does the applicant have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage? | Does the applicant have, or are they actively developing, the necessary skills, knowledge, experience and market awareness to run the business successfully? | Is there evidence of structured planning and of potential for job creation and growth into national markets? |
Before offering to endorse you, the body will seek your permission as to whether they can monitor your commercial progress and share any relevant information with the Home Office.
You may notice that there is little in the way of guidance for endorsement bodies. This fact has concerned many immigration lawyers and business groups who worry that, due to lack of direction and management, potentially profitable, scalable business ideas will fail to achieve endorsement.
For long-term success, it is imperative to treat your relationship with your endorsing body as a partnership. Proactively contact them to update them on your progress. Because of the lack of guidance provided, it would be prudent to ensure there is no reason for the body to withdraw their endorsement of you.
Working with an immigration Solicitor can provide a competitive advantage when it comes to gaining endorsement and entry into the UK. Your lawyer can assist you with collating the necessary documents to prove you meet the criteria of innovation, viability, and scalability and create robust covering letters to support your application.
It's your future. Don't leave it to chance.
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