on February 1, 2023
A fintech innovator with a cutting-edge financial management app sought Cranbrook Legal’s assistance in securing an Innovator visa. The app aimed to help UK residents manage their finances more efficiently through a combination of artificial intelligence (AI) and personalised financial planning tools.
The client was already residing in the UK with a Skilled Worker visa. However, he had been informed by his employers that it was unlikely they would be able to support an application for an extension of his visa.
The client had been working on a side project which involved financial planning through AI, and he felt that this particular service for an app was not available on the market. He was, however, concerned that services and products in the space were changing and improving rapidly, and that it may not take long for one of the major players in the financial space to establish a similar app to his. He therefore wanted to move quickly to be able to launch the app before anyone else.
Through our strong connections with the Endorsing Body, we were able to explain the client’s situation and the need for urgency in the matter. As Cranbrook Legal are experienced in such matters, we advised the client as to what documents he could provide, which would enable the Endorsing Body to decide quickly on his endorsement application.
Our team worked closely with the client to obtain endorsement from a suitable Endorsing Body, emphasising the app’s potential to contribute to the UK’s fintech industry. The Endorsing Body arranged for an interview with the client to explore his app in more detail, particularly regarding scalability. The client was able to provide strong responses to each of the questions and was able to satisfy the endorsing body that scalability would not be an issue.
After the endorsement letter was issued, we worked with the client to review the documentation for the visa application. We provided feedback to the client and advised on what further documents he could provide to support his application. We then prepared legal representations explaining how the client met the Immigration Rules and why the visa should be granted.
The Innovator visa was granted, allowing the innovator to bring their fintech start-up to the UK market.