Britain prizes innovation and entrepreneurship - the reasoning for this is simple: they bring in investment and taxable income. In recent years (and likely with Brexit and its after-effects in mind), the UK has decided to make significant changes to its business visas. One of the biggest changes was the replacement of the Tier 1 Entrepreneur Visa with the new Innovator Visa.
In this article, we are going to look at the new visa in detail to see if it is the right option for you to use in order to either come to the UK or to switch to from your current visa.
The new Innovator Visa is, in itself, innovative; previously your business idea was assessed by a UK Visas and Immigration (UKVI) officer to assess not only whether the application was genuine, but also if the business idea was solid - this was far from ideal. The new visa ensures that your business idea is credible by adding the requirement for endorsement from an appropriate body. This endorsement is required before you can even apply and ensures that only businesses that are likely to be successful are allowed to progress onto the next phase - the application.
As well as the aforementioned endorsement, you will also need to meet the following eligibility criteria if you want to successfully apply for an Innovator Visa:
As long as you can meet the eligibility criteria and have received your endorsement, you will be able to make an online application for the new Innovator Visa. Once you have made your application, you will then need to visit a visa application centre to give your biometric information (fingerprints and photograph) to get a biometric residence permit (your proof of eligibility to be in the UK).
The Tier 1 Entrepreneur Visa directly preceded the Innovator Visa and is gradually being phased out. If you are currently in the UK on the visa, you will have a grace period in order to extend your current visa (anyone currently on the visa will be able to extend). Alternatively, you can opt to switch to the new visa or apply for Indefinite Leave to Remain (if you have been in the UK for 5 years). While new applications are not being accepted for Tier 1 Entrepreneur visas, those currently on the route are essentially unaffected.
The vast majority of Tier 1 Entrepreneur Visa holders will likely opt to remain on their current path - there is little in the way of benefit to them in switching. New applicants will need to use the Innovator Visa as the Tier 1 Entrepreneur Visa is no longer an option for new applicants.
In order to apply for an Innovator Visa, you will need to gain an endorsement from one of 24 authorised bodies. These bodies have been tasked with sifting through business ideas in order to ensure that only the businesses that are likely to do well make it to the application stage. As well as credibility, these institutions have been asked to prioritise certain factors in order to ensure that business that are started in the UK are not only credible but also original.
The endorsement bodies will be tasked with finding original business ideas - for a long time it was possible to start a business in the UK with a business type that was already prevalent (restaurants and shops etc.), the new visa will ensure that innovation is at the heart of the endorsement process. This change will ensure that only the most innovative, credible and scalable businesses are admitted to the UK. This change will help to ensure that the UK benefits from a diverse mix of innovative businesses being started in the country.
If you cannot reach the £50,000 seed funding requirement, do not quit!
As well as the Innovator Visa, the Home Office also introduced an alternative visa, the Start-Up Visa, for those who were either new to the business world, or those who did not have access to the seed funds required in order to get their business off of the ground. The visa is very much aimed at the younger entrepreneur and is a way to give them access to the UK in order to get their business idea off of the ground. The intention is that these businesses will either get off of the ground quickly or will be assisted by investors.
The Start-Up Visa is very much offered as a precursor for an Innovator Visa. You will be given 2 years in the UK in order to get your business off the ground. If you are successful, you will have the option to upgrade to an Innovator Visa. The visa is a great way for younger entrepreneurs to cut their teeth, and gain access to one of the world’s most active markets (for investment and sales) so that they can get the best start for their business idea.
Our team are experts in helping those looking to come to the UK to start a business and can help you to make a successful move to the UK. So for advice, help or guidance with an immigration query, get in touch today and our team will be happy to lend a helping hand.
438 ReviewsREAD ALL REVIEWS
Tier 1 Investor Visa - Business Immigration
Investing over 2 million pounds is defintely not a routine decision. We had to make sure that the Tier 1 investor immigration lawyers that we'd be picking has to be one of the best within the Tier 1 investor category. We contacted Reiss Edwards and they were able to get us not only the Tier 1 investor visa but also suggested profitable investment portfolios in addition to what we already had in mind.
Indefinite Leave to remain - UK Settlement and
I am glad that i instructed Reiss Edwards on my visa matter. It started with a 20 minutes free immigration advice. I met with Amar to discuss my ILR refusal. He gave me a great deal of quality advice and decided to take on my messy case. I had doubts on the merits of my case by he was relatively convinced he could win it. That made me quite secure. To be honest, things did not start as quick as I would have wanted, but they kept on communicating the process and state of things to me.A big thank you to Verusha and Foram. They were also very helpful. Brilliant and informative. Their fee was fair and reasonable, especially if you compare them to other law firms and immigration law firms in London; some of whom even told me that i would not be able to get an indefinte leave to remain in this country. The process was long but was worth it. In the end, a big thank you to Reiss Edwards.
Citizenship Application - UK Naturalisation
TI have just had British Citizenship application approved. Prior to making the application, i was not sure which law firm i should hire to facilitate the paperwork. After a few hours of research, i decided to go with Reiss Edwards and i must confess that i wasnt disappointed. The immigration lawyers at Reiss Edwards handled my case well and they really knew what they were doing. They were fully aware of what documents I needed and it was easy for them to tell if my case was going to be easy or not. At the end of the day, I have not received my British citizenship within 3 months. If anyone is looking for a good immigration lawyer to handle thier case, contact Reiss Edwards.
Spouse Visa - Appeals and visa refusals
My wife's spouse visa extension application was refused by the Home Office and they gave her 14 days to leave the country. We contacted Reiss Edwards and they said "OK don't worry we will sort this out". They put together the list of documents for me to obtain and they prepared a bundle which was as thick as the printer it came out from.We followed everything they asked us to do and in the end we won our appeal and got our spouse visa. We can't recommend them enough and we have promised ourselves never to make any more UK visa applications without them.
Immigration Visa - Citizen of United Kingdom
The team of lawyers at Reiss Edwards are very professional and friendly people. Their experience in and around UK immigration law is quite extensive; be sure that you application is in safe and competent hands. My immigration matter was an indefinite leave to remain application based on Tier 1 on a self-employment basis. The immigration lawyers at Reiss Edwards made sure that the application was perfect and ready to be accepted. I got a positive decision and I recommend them highly for anyone who needs a UK immigration help.
UK Settlement Visa
I contacted Reiss Edwards to help me with my wife’s UK settlement visa. They acted with utmost professionalism throughout the entire application. I spoke with Joe Dinh, he is an immigration solicitor and he is one of the best solicitors out there. He ensured that there was little to no room for error. At some point I thought he was over cautious. He remained calmed and continued to assure us on our immigration matter. Most people in his position would have panicked but he was calmed and continued to assure us. We received out positive outcome very quickly.
Cheap Immigration Lawyers in London
I have been using Reiss Edwards for three years now for my family's immigration application. Both for my initial application and extension. They are really affordable. The team of solicitors at this firm are probably one of the most efficient and economical in terms of cost. They offered free advice over the phone and spent good time with us before inviting us for consultation.
Top Notch Immigration Service
Reiss Edwards is a top notch immigration service company. The way they handled our documentation and also the list of documents they sent was efficient and top quality. They helped us professionally throughout the process. We are very happy with the immigration advice we received from the team. We highly recommend them.
Best Immigration Solicitors
I used Reiss Edwards’ immigration lawyers to assist with my immigration matter and that of my family. It was an EX1 application. They dealt with the matter properly and even when complications were coming up from the Home Office, they helped resolve the issue properly. They are very professional and are very popular in London. I am happy to have worked with them.
Indefinte Leave to remain - Individual Immigration - UK Settlement
It's a shame that you dont have an 'Excellent' star rating on here, as my experience with Reiss Edwards is nothing short of an excellent rating. They handled my application for an Indefinite Leave to remain in April 2014 and did my husband's one very recently including my daughter. Every time i have approached them, they have continued to treat me with courtesy, respect and patience. Amar was indeed a very thorough and professional gentleman. He is very knowledgeable, corporative and engaging. He responded to my emails, calls and enquiries promptly. He was always reassuring. I could not have asked for a better Immigration service. I would recommend them over and over again for anyone looking for an immigration advice. They gave me a free immigration advice when i called them, and the quality of the advice was something other charge thousands for. If you need a particular, name, Amar would be it. He exemplifies, for me, the true, professional gentleman. He is a valuable asset to Reiss Edwards.
Tier 2 Visa application - UK Work Visas
This is the only firm that i spoke with that didn't ask for money before listening to me, will be using them again.
I used Reiss Edwards for my Tier 2 visa application and it was successful. The team was ever present and happy to answer my question. The caseworker that dealing with my case went on holiday yet by case did not suffer one bit. Another lawyer stepped and took over the case without any hassle.
Tier 1 Investor Visa - Business Immigration
My Tier 1 Investor Visa was dealt with quickly and without issue. Would recommend Reiss Edwards as an Immigration law firm in London. Thank you to the team.