Innovators

Introduction

On 25th July 2000, the United Kingdom Government announced the Innovators pilot scheme. During the initial two-year pilot scheme this entry route operated as a concession outside the Immigration Rules. Applications are assessed on whether business proposals will aid the development of e-commerce and other new technologies in the UK.  The Innovators scheme’s operation is now continually being assessed on a regular basis and any future revisions of the scheme will be announced if or when they occur.

Aims of the scheme

The Innovators scheme seeks to attract entrepreneurs with new and creative ideas who intend to set up a business in the UK, primarily in the areas of science and technology, including e-commerce. Those entrepreneurs who can show their business proposals will lead to exceptional economic benefits for the UK will be granted leave under this category.

Although it is open to applicants who want to set up UK businesses in any sector, the Innovators scheme is mainly designed for those specialising in high-tech areas, in science and technology based sectors. A successful applicant, therefore, will usually not only have an entrepreneurial track record or evidence of potential but also technical skills.

Applications will be assessed in their entirety and weaknesses in one area can be made up for by strengths in another area.

Legal Requirements

The key difference between the Innovators scheme and other schemes that are based on entry in order to establish a specific business is that there is no need for applicants to show any minimum amount of investment in the business. Furthermore, the source of funding for the business does not necessarily need to be from the applicant him/herself: third party funding is permitted.

Instead, Innovators applications are assessed on the basis of the exceptional economic benefit they are likely to bring to the United Kingdom. The selection process is points-based and is designed to be flexible in order to accommodate a wide variety of applications.

The minimum requirements that must be satisfied by all applications are as follows:

  • The business proposal will lead directly to the creation of two full time jobs (or equivalent) within the UK business, within 12 months of establishment, for persons already settled in the UK (these can be made up from a number of part time jobs);
  • The applicant will maintain a minimum direct personal shareholding of 5% of the equity capital. This must be in a UK registered company;
  • The applicant must demonstrate that they have seed capital/initial funding in place or agreed in principle for at least the first six months; and
  • Applicants will be able to maintain and accommodate themselves and any dependants without recourse to other employment or public funds until the business provides them with an income.

The other areas in which applicants can score points include the following:

  • The applicant’s background (personal characteristics, qualifications, experience etc)
  • Business plan (focusing on economic benefit to the UK)
  • Commercial, financial and technical viability
  • The industry / sector the business proposes to operate in
  • Management plan
  • Significant contracts
  • Strength of market research

Necessary Documentation

As always the application will only be as strong as the documentation provided to corroborate the claimed points scoring in the various categories.  Obviously, suitable documentation will vary on a case by case basis and our consultants can provide reliable advice based on individuals circumstances.

Period of Stay

Leave to remain / enter in the Innovator category is initially granted for 18 months after which time an application for Further Leave to Remain can be made subject to the business’ continued success.  A new application needs to be submitted at this point summarising the business activity during the period of leave with statutory accounts covering the first twelve months of trading.  Evidence that the fundamental requirements are still being fulfilled is also required.

Indefinite Leave to remain (ILR) and Permanent residence
After five years in the UK as an Innovator, individuals will be eligible to apply for Indefinite Leave to Remain (ILR – otherwise known as permanent residence or settlement).

Other Useful Information:

  • Home Office processing times: Usually 2 weeks
  • Dependants: Husband/wife, dependant children under 18

If you are interested in making an application to come to the UK as an Innovator, please contact one of our consultants on 0845 226 4030 for detailed advice on the strength of your case.  You must have a well-prepared business plan in order for us to provide you with worthwhile feedback. Alternatively, you can make all e-mail enquiries to info@uk-wp.com.