United Kingdom
Overview
The UK has long been a significant world power, both economically and politically. London is the financial capital of the world, offering an international business environment. The UK is also renowned for having some of the best educational institutions in the world and an open, international culture.
The Innovator Visa is aimed at those who can demonstrate relevant experience in business and requires individuals to set up business in the UK. To qualify, applicants must invest USD 75.000 into a new business that has been endorsed and approved by the Home Office and produce a business plan.
Successful innovators are granted leave for three years at a time and can bring their family members to the UK. After three years, innovators can apply to extend their stay for a further three years or to settle permanently in the UK under indefinite leave to remain (ILR).
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USD 75,000
1 – 8 weeks from submission of the application to approval
The right to live, work, and study anywhere in the United Kingdom
Attractive tax regime for high-net-worth individuals who are resident but not domiciled
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Investment options:
The innovator funder visa
The Innovator Funder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and grow a new business in the UK. Before one applies, one needs to have one’s business or business idea assessed by a Home Office–approved endorsing body. They will assess the viability of the business or business idea and, if approved, provide an endorsement letter to submit with the application.
How to apply?
When you apply you need to provide an ‘endorsement letter’ (We will provide you a list ) to show that an endorsing body has assessed your business or business idea. You also need to provide: 1- Valid passport or other document that shows your identity and nationality. You’ll need a blank page in your passport for your visa if you’re: - From outside the EU, Switzerland, Norway, Iceland or Liechtenstein. - From the EU, Switzerland, Norway, Iceland or Liechtenstein but do not have a biometric passport with a chip in it. 2- Bank statements showing you’ve had at least £1,270 in savings in your bank account for 28 consecutive days before you apply. 3- Proof that you meet the English language requirement (You must prove you can read, write, speak and understand English to a level B2 on the Common European Framework of Reference for Languages (CEFR) scale). 4- Your tuberculosis test results if you’re from a country where you have to take the test. 5- If your documents are not in English or Welsh you’ll also need to provide a certified translation. You must be able to show that your business idea is: - New - you cannot join a business that is already trading. - Innovative - you must have an original business idea which is different from anything else on the market. - Viable, with potential for growth. - Scalable - you must give evidence of planning that includes creating jobs and growing into national and international markets. You’ll need to get an endorsing body to assess that your business idea meets the requirements. The processing time for the application depends on the embassy, taking between 1 and 8 weeks for approval. After 3 years, the main applicant must apply for an extension of stay in the UK. If all criteria are met, a 3 year extension is granted. After a minimum of 5 years in the UK, including holding ILR in the last 12 months, the applicant can apply for British citizenship.
Steps to follow
Step 1 - Assess your business or business idea:
Have your business or business idea evaluated by a Home Office-approved endorsing body. They will assess its viability and provide an endorsement letter if approved.
Step 2 - Gather necessary documents:
Prepare the following documents for your application: - Valid passport or identification document showing your identity and nationality. - Bank statements demonstrating at least £1,270 in savings consistently for 28 consecutive days before applying. - Proof of meeting the English language requirement (B2 level on the CEFR scale). - Tuberculosis test results (if applicable). - Certified translations for non-English or non-Welsh documents. - Obtain an endorsement letter: Include the endorsement letter from the approved endorsing body, confirming the assessment of your business or business idea. Our team will review these documents before submitting the application.
Step 3 - Payment of the fee:
You must pay the visa fee for each person that applies at the same time as you or applies later to join you in the UK. The fee is £1,036.
Step 4 - Complete the application:
We will submit your application with all the required documents, including the endorsement letter, to the UK embassy.
Step 5 - Await processing:
The processing time for the application varies and can take between 1 and 8 weeks for approval. Monitor the progress of your application during this period.
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
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FAQ
Does this residency allow me to obtain citizenship?
No, but after three years, innovators can apply to extend their stay for a further three years or to settle permanently in the UK under indefinite leave to remain (ILR).
For how long will I have the residence?
The residency is valid for 3 years.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example a employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Is UK Safe?
The United Kingdom is generally a safe place to live. In terms of crime England ranks 36th out of 193 countries. This means that the UK is safer than most countries in the world.
Is dual citizenship accepted in the UK?
Yes, Dual citizenship is allowed in the UK. This means you can be a British citizen and also a citizen of other countries.
With what currency must the residency programs be paid?
This residency program should be paid in euros.
How strong is the UK visa?
The UK passport ranks seven in the world, providing you visa free access to 190 countries in the world.
Can I bring my family in this experience?
Yes, under the Tier 1 Innovator Visa you can bring their family members to the UK.
Can the residence be purchased with an investment in Real Estate?
Unfortunately you can't access to residency by an investment in real estate.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to the UK?
The whole process can be arranged without being present in the country.