UK Startup Visa or UK Innovator Visa. Which one is better?
It is worth mentioning that both UK Startup Visa and Innovator Visas are the most popular business immigration pathways in the UK. Both the programs require new business incorporation and continuous operation in the country. Before finding the better program among these two, we must understand the difference between them. Below is the detailed chart of the difference between Startup Visa & Innovator Visa.
Particulars | UK Startup Visa | UK Innovator Visa |
Availability | For aspiring business people and startup enthusiasts | Only for established entrepreneurs & investors |
Type of Visa | Residency Visa for two years | Residency Visa for three years |
Visa Extension | Visa Cannot extend. But, it can be switched to an Innovator visa after the expiry of Start up Visa UK | Can extend multiple times in every three years |
Residency & Citizenship | Startup Visa does not lead to Permanent Residency. If the visa is switched to Innovator Visa, then it’s possible | Attain Permanent Residency after five years of continuous stay in the UK. And, further UK Citizenship |
Investment | No minimum investment required for the UK Startup visa Process | Invest £50,000 (INR 51.8 Lac) |
Net-worth | Minimum £1270 (INR 1.32 Lac) | Minimum £1270 (INR 1.32 Lac) |
Type of Business | Set up and develop a new business only | Invest in both new and existing business |
Partnership | Can apply with other partners with each partner to attain endorsement for their idea | Can apply with other partners with each partner contributing £50,000 (INR 51.8 Lac) |
Endorsement | The business idea must be innovative, viable, and scalable, endorsed by the approved endorsement body | The approved endorsement body must endorse the business idea |
Processing Timing | 3 Months | Three months |
Upon comparing, you can reckon that Startup UK Visa is easily achievable and available for aspiring and established business professionals. No minimum investment is required under the program, but the business would need minimal funding to meet the expenses. Innovator visas can be for those who are looking for long-term residency in the country.
Do you wish to know more about the UK Startup Visa? Enroll in our free immigration counseling and guidance from Best Business Visa Consultants in India. Call @ 8595338595 or [email protected].
