UNITED KINGDOM
The Tier (The Innovator Visa) in UK.
The UK Innovator Program offers various benefits, such as an international business environment, with London being the financial capital of the world. The country also provides an attractive tax regime for high-net-worth individuals who are resident but not domiciled.
The Tier (The Innovator Visa) requires a minimum investment of £50,000 in a UK business, with the option to apply for an extension and eventual ILR. The visa also requires the applicant to demonstrate their English language proficiency and provide evidence of their business experience and qualifications.
The UK Innovator Program requires applicants to submit their completed application and supporting documentation to the diplomatic post in their country of residence. The approval time may vary from one to eight weeks, depending on when the embassy receives the application. Once the initial three-year period is up, the main applicant can apply for a three-year extension from within the UK, provided all criteria are satisfied. After spending at least five years in the UK and having held ILR in the last 12 months of that period, applicants can apply for British citizenship.
The Innovator Visa is designed for individuals with relevant business experience, requiring them to establish or manage a business in the UK. To be eligible, applicants must be at least 18 years old and have at least £50,000 in investment funds if setting up a new business. If the business is already established and has been endorsed for a previous visa, then there is no need for additional funds, which can come from any source.
Before applying for the visa, the applicant's business or business idea must be assessed by a Home Office-approved endorsing body to evaluate its viability. If approved, the endorsing body provides an endorsement letter to be submitted with the visa application. The immigration rules differentiate between applicants who apply under the "new business" criteria and those who apply under the "same business" criteria. First-time UK visitors must apply under the "new business" requirement.
POPULATION AND AREA
67 mln people
244 376 sq km
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