Why Consider UK Residency and Citizenship?
The UK is one of the most well-connected countries on the planet, and its capital city – London – is a cultural phenomenon that attracts citizens of virtually every nation to live, trade and create. The UK’s financial, commercial and cultural reach is unparalleled. It has an attractive tax regime and provides a safe investment environment.
What Can You Expect from a United Kingdom Innovator Visa?
Although it has left the European Union after more than four decades of membership, there’s no reason to believe that the UK’s influence in the world will wane. Indeed, the nation’s entrepreneurial spirit and high standards of education and governance are set to stay as the nation looks towards a broad-based set of international relationships.
The UK has long been an essential link between Europe and America, with multiple daily flights to New York, Los Angeles, Rio de Janeiro and Buenos Aires. It is also extremely well-connected to Europe and Asia. Paris is just over one hour away, Moscow less than four hours, and a flight to Beijing takes a little over ten hours. With a time zone between the US and Asia, the UK is ideal for international business.
The UK Innovator Visa requires an applicant to establish an innovative business that has received endorsement from an Endorsing body, which is an organisation that the Home Office has approved to assess ventures. The business idea must be innovative, viable and scalable.
The applicant must be 18 or over and meet the English language requirement. A spouse/partner and children under 18 may also be included in the application.
Latitude can support applicants with their own innovative idea, building and developing a business plan that meets the necessary criteria to be endorsed.
Alternatively, we match an applicant’s personal and professional background using a portfolio of vetted pre-revenue and pre-trading ventures. Such ventures seek investments starting at £250,000 and are ready and willing to welcome a foreign partner as an instrumental part of their founding team.
The applicant must work exclusively on developing their business and may not take employment outside of their business.
The UK is an excellent option for sophisticated investors and their families, who will benefit from access to London – one of the world’s great cities – as well as many of the world’s leading businesses, private schools and universities. Read more about how to apply for permanent residence in the UK below.
UK Innovator Visa Requirements
Applicants must fulfil the following UK residency requirements:
To fulfil the UK Innovator Visa requirements for permanent residence, you must satisfy at least two of the following seven achievements by the end of the third year of business activity:
- 1. At least £50,000 has been invested into the business and has been actively spent furthering the business plan outlined in the applicant’s previous endorsement.
- 2. The business has engaged in significant research and development activity and has applied for intellectual property (IP) protection in the UK.
- 3. The business has generated a minimum annual revenue of £1 million.
- 4. The business has generated a minimum annual revenue of £500,000, with at least £100,000 from exporting overseas.
- 5. The business has created at least ten full-time jobs.
- 6. The business has created at least five full-time jobs that have a gross annual salary of at least £25,000 a year (gross pay, excluding any expenses)
- 7. The number of the business’ customers has at least doubled within the most recent three years and is currently higher than the mean number of customers for other UK businesses offering comparable products or services.
The UK Innovator Visa Programme requires an applicant to establish an innovative business that has been endorsed by an Endorsing body.
To find out more, view the official government website for this visa.
UK Innovator Visa Application Process
Create a business plan.
Obtain an endorsement.
Apply for the visa.
Initiate the business venture.
Years 1 -3
No more than 180 days absent from the country.
Permanent residence granted.
UK citizenship may be granted, provided that no more than 450 days were spent outside the UK in the previous five years.
Eric G. Major
"I've spent the past 25 years helping private clients to successfully relocate around the world. A second residency or citizenship can seem like a big undertaking, but we'll be by your side to provide the guidance and support to make the journey enjoyable and stress-free."