Start-up and Innovator visas
Two new categories of visas have been introduced for non-EEA nationals who wish to set up a business in the UK: Start-up and Innovator visas . In order to qualify for a visa in either of these categories, applicants must first obtain an endorsement from an approved endorsing body.
The Startup Race Ltd is now an approved endorsing body. We will assess applications for endorsement from those individuals who can demonstrate Innovation, Viability and Scalability.
Please see below for a summary of the requirements for each visa category
This category is suitable for early-stage, talented, start-up entrepreneurs, who have an innovative business idea with high growth potential that they wish to develop, but have yet to start trading in the UK. In addition, they must not have previously set up a business in the UK.
Applicants do not need any funds to invest in their business at this stage.
This category offers a one-off, two year visa, during which applicants will spend the majority of their time developing their businesses but can also take on other work outside of their businesses, to support themselves.
Successful applicants can bring their family members (spouses/partners and children under 18) to the UK.
At the end of two years, they can switch into the Innovator category (see below) to extend their stay and develop their businesses in the UK.
Review the eligability criteria here https://www.gov.uk/start-up-visa/eligibility
This category is suitable for talented entrepreneurs who have already run an existing business, and who now have a new, innovative business idea with high growth potential that they wish to develop, but have yet to start trading in the UK.
Applicants must already have, or have access to, a minimum of £50,000 of funding to invest in their new business venture.
Those Innovators who are successful in applying for a visa in this category will be granted leave for three years at a time and can also bring their family members (spouses/partners and children under 18) to the UK.
Innovators must work entirely on developing their business ventures and may not take on other employment outside their business. This includes anything which effectively amounts to employment, such as using their own business to hire out their labour to another employer.
After three years, Innovators can apply to extend their stay for a further three years or to settle permanently in the UK. Each of these 3 three stages (initial application, extension, settlement) requires endorsement from an endorsing body.
Review the eligability criteria here https://www.gov.uk/innovator-visa/eligibility