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What are the requirements on sources of funds for the innovator visa of the U.K.?

I am interested in applying for an innovator visa and start a business in the U.K. While reading the program’s website, I learned that the investment funds can “come from any source”. Could you please give some examples of acceptable sources? Does bank loan qualify? Does gifted money count? How long does the applicant have to possess the funds before submitting an application?

  • Sterling Law
    August 16, 2019

    Acceptable source of funds are: endorsing body or other source where the endorsing body has verified the funds are available; a U.K. organization employing at least 10 people (i.e., signed declaration (confirming required details); an overseas organization, a U.K. organization which employs less than 10 people or an individual third party (i.e., signed declaration and letter from a legal representative (confirming required details); funds held by applicant (i.e., bank statement or letter from the bank). If these documents do not show that the applicant has held the funds for at least three months, the applicant must also provide all the evidence from the source of the funds as set out for an overseas organization or a U.K. organization which employs less than 10 people or funds already invested in business (i.e., bank statement). There is nothing in the guidance confirming whether you can have a loan from the bank.