Innovator visa route
Innovator visas are great for individuals who want to set up or run a business in the UK. This is subject to approval of your business idea by an approved body which evaluates whether your business will be worthwhile in the UK. Applications for this visa also extend to individuals outside the European Economic Area and Switzerland.
One of the key requirements for this visa is having £50,000 in investment funds if you wish to set up a new business in the UK. This funding can come from any source. It is to be noted that if your business is already established and have been endorsed for an earlier visa, the funds requirement is not necessary. The residence period on this visa if 3 years if you come to the UK on an innovator visa, or if you switch from another visa. This stay can be extended for another 3 years when the visa is upcoming expiry. The positive to this visa is that there is no limit to how many times you can extend your visa and after some time, you may be eligible to apply for settlement.
Along with this, the applicant must be at least 18 years of age, meet the English Language requirement, prove you have enough personal savings to support yourself whilst being in the UK. In addition to this you must have at least £945 in your bank account for 90 consecutive days before applying. Using money from the investment funds or using money earned while working illegally in the UK cannot be used to support yourself.
The cans of this visa include, being able to set up a business (or several), being able to work for your business, and being able to bring family members with you. The things that cannot be undertaken whilst on this visa include not being able to do anything outside your business, working as a doctor or dentist in training, working as a professional sportsperson or getting public funds.