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The innovator visa scheme is aimed at entrepreneurs
with new and creative ideas who wish to set up a business
in the United Kingdom, especially in the areas of science
and technology, particularly internet and telecommunications
industries including e-commerce. The visa attracts entrepreneurs
whose business proposals will lead to exceptional economic
benefits for the United Kingdom by relaxing certain
traditional business immigration requirements. You should
normally get entry clearance as an innovator, before
you travel to the United Kingdom, but application made
within the UK may be considered. However, if you are
in the UK as a visitor, your application will not be
considered. In that case, you must leave and apply for
entry clearance in the country of your residence.
Applicants under the innovator visa must satisfy
the following minimum requirements:
- Your business proposal must lead to the creation
of at least two full time jobs (or the equivalent)
within the business, within 12 months of its establishment,
for people already settled in the United Kingdom;
- You must maintain a direct personal shareholding
of 5% of the equity capital; and
- You must demonstrate that you have seed capital
or initial funding in place or agreed in principle
for at least the first 6 months and that you will
be able to maintain and accommodate yourself and any
dependants without taking other employment and without
recourse to public funds until your business can provide
you with an income.
If you meet the requirements set out above, your application
will be assessed on a points system. The Home Office
have devised a selection criteria which is ‘selective
but highly flexible’ so as not to stifle competition.
This will cover three key areas:
1. Personal
- Work and business experience.
- Proven entrepreneurial ability.
- ducational qualifications (primarily in technology,
science and business). Lack of formal qualifications
may not prevent the success of an application if the
applicant can show good and successful business experience.
- Personal commercial references.
2. Business plan
- Evidence that your business plan is realistic. (You
must show technical, commercial and financial planning)
- Plans for creating a management team.
3. Economic benefits derived from business
proposal
- Skilled jobs that you will create.
- Number of jobs you will create.
- New and creative proposals you make: the introduction,
for example, of a new technology, process or product
to the United Kingdom or to the business area.
- The amount you will spend on research and development.
Applications, which do not meet these three requirements,
will be refused, regardless of any other factor. One
of the most novel features to this new category is the
introduction of a self-certifying application form on
which the applicant scores points while proceeding through
various stages. You will need to score a minimum number
of points in each area, which is then totaled to reach
an overall score to qualify. Independent and credible
evidence is required to back up many of the assertions
that are made by the applicants.
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