The new UK Innovator Visa has replaced the Tier 1 Entrepreneur visa. It is the first of the new immigration routes along with the Start-up Visa route. These will over the period of next few years replace the PBS – Points Based Immigration System in the UK.
The UK Innovator Visa is dissimilar from the earlier PBS routes for Start-ups and Entrepreneurs. The applicants of this UK Visa have to get their business or business idea endorsed by authorized endorsing bodies. These function outside of the UK Home Office, as quoted by the South African.
The non-EU nationals will also have to possess minimum investment funds of 50,000 Pounds apart from the endorsement. This is not required if the business was endorsed for a previous UK Visa or is already established
Benefits of the UK Innovator Visa
There are several benefits incurred for the successful applicant of this Visa:
• The Visa is approved for 3 years and can be extended for another 3 years period
• The Visa holder will be eligible to apply for ILR – Indefinite Leave to Remain after residing for 5 years in the UK
• The family members of the main applicant can join them and reside and work in the UK devoid of any curbs
• The Visa holder can establish business or businesses, be employed for their business as a member of a business partnership, self-employed or director
Changing to the UK Innovator Visa
It is possible for the non-EU nationals already in the UK through other Visa routes to change to the Innovator Visa. The following categories are permitted by the Home Office to switch to the Innovator Visa:
• Any of the Tier 2 Visa routes
• Tier 1 Entrepreneur Visa
• Tier 1 Graduate Entrepreneur Visa
• The new Start-up Visa
The UK Home Office even permits people on a standard Visitor Visa to change to the Innovator Visa. This is if they arrived at the UK to get funds and possess Letter of Support from the endorsing body.
Y-Axis offers a wide range of Visa and Immigration services as well as products to overseas immigrants including UK Tier 1 Entrepreneur Visa, Business Visa for the UK, Study Visa for the UK, Visit Visa for the UK, and Work Visa for the UK.
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