Innovative Visa | Details and Eligibility Criteria

Towards the end of March 20219 the government of the UK introduced the new innovative visa for the out of the country business men and shut down the category of tier 1 category for the new candidates.
The innovative visa is a classification for those people having experience in business and they are looking to build or start a business in the UK. For that many exceptions are applied i.e. you must have at least £50,000 that will be invested in the business or they have already been invested and you have to have an innovative practicable and accessible idea for the business that has to be sanctioned and maintained by an endorsing body.

People suitable to innovative visa
This classification for innovative visa is appropriate for the businesspersons who are experienced plus they are seeking to build a new setup of business in UK which is innovative accessible practical. The candidates are required to introduce a new idea for the business.
The candidates can work as a only founder or can be a part of a business team. The idea of the business can be linked to any sector only if the idea of the business is appropriately innovative accessible and practical.

Requirements for the innovative visa

• You have to be 18 years of age or older
• you must have at least £50,000 that will be invested in the business or they have already been invested and you have to have an innovative practicable and accessible idea for the business that has to be sanctioned and maintained by an endorsing body.
• If you are applying to carry on the same business, then you must have been endorsed by an approved body that has been endorsed by the UK and is totally pleases with your achievements that were taken into account against the previous business plan.
• The applicant for the innovator visa must give their whole time to the business
• You must have to be able to speak read understand and write fluently in English you will have to prove your skills of English when you apply.

Charges of innovative visa
The present home office application charges for an innovative visa is £1,021 when applied outside of UK and £1,277 if you are applying to switch into a classification inside the UK

Valid period for innovative visa
The valid period of this visa is 3 years either you have come on an innovative visa to uk or switched to this visa from another while living in uk. You can apply for settling in UK once you have completed 3 years of valid period
There is no limit on how many times you can extend this visa. You can easily apply to extend you staying for another 3 years when your innovative visa is about to expire.

Procedure to apply for innovative visa

• The only way is to apply online
• It really depends while applying if you are Not in UK or coming to the Country
• Living in UK and are planning to extend your present visa
• Living in UK and are planning to switch you visa from another to innovative
• If eligible you can apply for your spouse and children in your application to live in UK