The Innovator Visa is tailored for entrepreneurs. By investing at least £50,000 into a business, holders can live in the UK to conduct business activities.

This visa can also lead to eligibility for ILR status, British citizenship, and a British passport.

Permanent Residence Requirements for Innovator Visa Holders

To start the path to permanent residence in the UK with the Innovator Visa, ensure your application meets these requirements:

– Have a viable business plan.
– You can either start your own company or team up with other investors, with each contributing at least £50,000.
– Maintain this investment for five years to qualify for ILR.
– To extend the visa after three years and four months, maintaining a £50,000 investment is necessary.
– Actively participate in the business and take full responsibility for it.
– Employ at least two workers to create job opportunities in the UK.
– Register your business with an endorsing body in the UK. The endorsing body must have a valid licence. If it loses its licence, you must reapply to another body from the government list.

How Many Times Can the Innovator Visa be Extended?

The initial Innovator Visa is valid for three years and four months, with the option to extend it indefinitely, each time for three years. Dependents of Innovator Visa holders can also apply for extensions for the same duration.

Applying for Permanent Residence with an Innovator Visa

After three years in the UK, innovators and their families can apply for permanent residency and eventually obtain British passports.

Pathway to UK Citizenship

Overview

ILR is a permanent status granted to individuals. However, if someone with ILR leaves the UK for two consecutive years, this status can be revoked.

ILR holders can apply for British Citizenship, which offers several benefits:

– Holding a British passport.
– The right to vote in UK elections.
– The ability to be absent from the UK for any period while maintaining dual citizenship.

When Do I Become Eligible to Obtain British Citizenship?

To be eligible for British Citizenship, you must first be a permanent resident for one year. During the five years before your naturalisation application, you should not have spent more than 450 days outside the UK and no more than 90 days in the last 12 months.

Adult applicants must demonstrate English proficiency and pass the Life in the UK test. All applicants must have a clean criminal and administrative record.

You must be at least 18 years old and provide evidence that you were in the UK five years before the Home Office receives your application.

You must intend to continue living in the UK and demonstrate good character according to the naturalisation guidance.

How Much Does a UK Citizenship Application Cost?

The cost of applying for UK citizenship is £1,330. This fee covers application processing costs, and you will also need to provide biometric information, including fingerprints and a photo.