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Innovator Visa, Scotland

A Tier 1 Innovator Visa is designed to attract individuals looking to invest in the UK. The visa allows holders to work, study or carry out business activities in the UK, although this isn’t a requirement of the visa.

The Innovator Visa allows applicants to invest £2,000,000 or more in UK shares or loan capital in UK registered businesses.

There are fairly stringent regulations attached to this type of Tier 1 visa. As a result, it makes sense to consult with Innovator Visa solicitors to ensure everything is processed correctly and there are no delays.

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Requirements

There are several criteria you need to meet when applying for a Tier 1 Innovator Visa. These are:

Applicants must be able to demonstrate their intention to invest at least £2 million in share or loan capital in UK companies.
Applicants must be able to prove that the money for investment belongs to them, their spouse, civil partner or unmarried partner.
Applicants must be able to prove their source of funds if £2 million has been held for less than two years (funds were a gift, funds were proceeds of a sale, funds were inherited).
Applicants must be able to show that they have opened a UK bank account and the relevant bank holding your funds must confirm that they have undertaken due diligence checks.
Applicants must be able to demonstrate that the investment funds are freely available to be spent and invested in the UK.

You must invest in an “active and trading” UK company, which is registered with Companies House, registered with HMRC, is regularly trading and have a minimum of two employees, aside from directors.

If you have a current points-based visa, you may be able to convert this to a Tier 1 Innovator Visa.