Extending your Innovator Visa
Is your innovator visa going to expire soon? Extend it!
What is the UK innovator visa?
You can apply for an Innovator visa if:
– you want to set up or run a business in the UK
– you’re from outside the European Economic Area (EEA) and Switzerland
– you meet the other eligibility requirements
- your business or business idea has been endorsed by an approved body
What funds do you need in order to apply for a UK innovator visa?
You must have at least £50,000 in investment funds if you want to set up a new business. You do not need funds if either:
– your business is already established and has been endorsed for an earlier visa
- you’ve changed your business and already agreed it with your endorsing body
If you already have a UK innovator visa, you may be at the stage where you’re looking to extend it. The innovator visa extension can be a confusion application but Westkin is determined to make it as simple as possible by providing expert legal advice.
Extend your innovator visa get a British passport
Extensions are essentially based on two things; the progress you have made, in line with your business plan, and the achievements you have.
1. If you have been granted Innovator Visa by meeting the requirements listed above, you can apply for an extension of your leave. This require a “same business” endorsement which will be granted if these five conditions are met:
You have made significant progress in terms of your business plan, which you had initially submitted.
Your business must be registered with Companies House and you are listed as a director or member of that business.
Your business is active and trading.
Your business is sustainable, this will be assessed based on the next 12 months considering assets and expected income against current and planned expenses.
You have demonstrated an active key role in the day-to-day running and development of the business.
This will grant you 3 further years to live and work in the UK. You can normally apply for Indefinite Leave to Remain 28 days before the end of your 5th year stay in the UK.
2. You may claim settled status after 3 years if you have met significant progress in terms of your application, this may include:
Having invested at least £50,000 into your business.
Creating at least 10 full time jobs for resident workers
Creating at least 5 full time jobs for resident workers paying at least £25,000
Having a gross revenue of at least £1 million.
Doubling your customers within your first three years
Having a greater number of customers than competitors
Conducting significant research and development and applying for intellectual property protection.
Generating at least £500,000 in revenue with £100,000 from exporting overseas
After a year of holding “settled status” you may apply for naturalisation which will entitle you to as well as your own British passport.
Why should I choose Westkin Associates?
Westkin Associates is an expert immigration law firm with over 3 decades of combined experience. We work with over 20 leading solicitors who have successfully supported their clients throughout all stages of their application as well as the appeal process, when necessary. Westkin prides itself on its hard-work, expertise and honesty.
To find out more about our promises to you click here.
If you are interested our services and would like our assistance with extending your UK innovator visa, please contact us.
5th Floor, Maddox House,
1 Maddox Street
0207 118 4546