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UK Innovator visa remains the most favorable pathway for UK immigration; since the official termination of Investor (Tier 1) visa on 17th February, earlier this year.
Being the Sole Investment Migration route to the United Kingdom, Investors were left with no other choice than to divert their application from former investor visa to the new Innovator visa.
As per the word on the street, the geopolitical tension between Russia and Ukraine was the reason of this decision, however UK Home Secretary Priti Patel ensured that the decision was taken while safeguarding the UK Immigration System. The official government website stated the change as “The Home Secretary has taken decisive action to shut the Tier 1 Investor Visa route to all new applicants from all nationalities with immediate effect. The route had allowed entry and stay in the UK if an applicant invested funds in share capital or loan capital in active and trading UK registered companies.”
After successfully granting over 5,000 investors and their families with Investor Visa, now this popular program is diverted to modernize the investment, hence the government came up with Innovator visa program, which started in 2019.
UK Government while launching the Innovator Visa had the objective of attracting more entrepreneurs and investors with innovative business ideas and magnificent talent to the UK. This unique perspective of the UK’s government helped boost the country’s economy leading to development of innovation and progression.
Government’s new approach of getting investment relies on many factors. The requirement has been shifted from financial aspect to applicant’s potential and skills. Any investor applying for the program needs to have an innovative, reliable and potential business plan. Business plan needs to be endorsed by a certified body along with a basic proficiency of English language backed up with a minimum investment starting with GBP 50,000. Applicant qualifying with all above criteria is successfully granted UK Innovator Visa.
This program which started off slow in 2019, has caught the race and is the first at finishing line, becoming the most demanded and viable investment program to lead migrating to the UK. The growing demand is not entirely due to closure of the Investor visa, but also because of the scope this route has to offer and not to forget the vast advantages such as qualifying for ILR within 3 years of getting the visa, makes Innovator visa one of the best option UK has ever launched.
For more on such interesting information and learning about Innovator Visa, contact Ad Astra, one stop solution for Investor’s Immigration, Residency and Citizenship requirements. Our experts are here to take you from start to end of your dreams.
