Innovators
The Innovators Scheme was set up (initially as a pilot) on 25th July 2000. This immigration scheme is designed to attract entrepreneurs with business proposals which would lead to exceptional economic benefits to the United Kingdom. The scheme is open to people who have plans to set up businesses, especially in the areas of science and technology, including e-commerce.
How Does an Individual Qualify as an Innovator?
In order to qualify the applicant must demonstrate that they meet 4 minimum requirements. These requirements are:
- That their proposed business will create 2 full time jobs for people who are settled in the UK; and
- They will have 5% of the shares of the company. The company must be registered in the UK; and
- That the applicant will be able to support and accommodate himself and any dependents without having to do any other work or obtain assistance from public funds; and
- The applicant must have enough finance available (or agreed in principle) to be able to finance the proposed business for the first 6 months after they arrive in the United Kingdom.
If an applicant meets the above requirements they will then be assessed against a points system. In order to qualify an individual must achieve a minimum number of points in the following areas:
- Personal characteristics
- Business plan in general
- Business plan: economic benefits
How to Apply as an Innovator
An applicant would normally be required to obtain Entry Clearance from a British Embassy/High Commission as an Innovator before travelling to the UK. However it is possible to switch from certain other immigration categories to Innovator. The rules and guidance about when you can and can’t switch are complicated and it is best to get advice before deciding to make an application from within the UK.
The application is made to the British Embassy or High Commission or if you can make the application from within the UK, to the Business Cases Unit at the Home Office.
What kind of Visa/Permission to Remain in the UK is an Innovator given?
An Innovator is normally given a permission to remain in the UK for 18 months in the first instance. An application can be made to extend that permission to a total of 4 years. An application for permanent settlement can be applied for after 4 years’ residence in the UK.