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Innovator Founder Visa

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What is the Innovator Founder Visa?

The Innovator Founder Visa enables foreign entrepreneurs to establish innovative businesses in the UK, specifically targeting those aiming to introduce unique market solutions.

This visa, previously known as the “Innovator Visa,” replaced the Tier 1 (Entrepreneur) Visa in March 2019. As of April 13, 2023, it no longer requires a minimum investment of £50,000. However, applicants must still demonstrate sufficient and reliable funding to the endorsing body if they intend to start a new business.

The visa allows for a stay of up to three years, with the option to apply for an extension of another three years. One significant advantage of the Innovator Founder Visa is that after three years, holders may be eligible for permanent settlement (Indefinite Leave to Remain, ILR) in the UK, a shorter period than the usual five years required for ILR.

Requirements for the Innovator Founder Visa

To apply for a UK Innovator Founder Visa, applicants must meet the following requirements:

  1. Age Criteria: Applicants must be at least 18 years old.

  2. Business Intent: Must intend to establish and operate an innovative business in the UK.

  3. Endorsement: Obtain an endorsement for the business or business idea from an approved endorsing body.

  4. English Language Proficiency:

    • Ability to read, write, speak, and understand English at level B2 on the Common European Framework of Reference for Languages (CEFR).
    • Provide evidence of an English language test, hold a degree taught in English, or be from an exempt country (e.g., Antigua and Barbuda, Australia, the Bahamas, etc.).

  5. Financial Capability: At least £1,270 in the bank account 28 days before applying to support oneself in the UK.

Additional Requirements

Business Plan:

  • Originality: Outline how the business addresses a new or existing market need and creates a competitive advantage.
  • Viability: Demonstrate the applicant’s experience, market knowledge, business skills, and realistic chance of success.
  • Scalability: Show potential for growth, job creation, and expansion into domestic and overseas markets.

Business Endorsement:

  • Obtain endorsement from an approved endorsing body in the UK, such as:
    • Investors Limited
    • UK Endorsement Services
    • Innovator International
    • The Global Entrepreneurs Programme (GEP)

English Language Requirements:

  • Fulfill the specified criteria or be from an exempt country.

Sufficient Support Funds:

  • Demonstrate financial capability by showing £1,270 in the bank account 28 days before applying.

How to Apply for an Innovator Founder Visa

  1. Prepare Your Business Plan: Develop a comprehensive business plan highlighting your business idea’s innovation, viability, and scalability.

  2. Apply for Endorsement: Seek endorsement from a relevant approved endorsing body in the UK.

  3. Complete the Online Application Form: Submit the online application form on the Home Office website.

  4. Prove Your Identity: Prove your identity by either:

    • Having fingerprints and a photograph taken at a visa application center for a biometric residence permit (fee of £19.20).
    • Use the “UK Immigration: ID Check” app to scan your identity document.

  5. Pay Application Fees: Pay the application fee of £1,191 if applying from outside the UK or £1,486 if applying from within the UK. Fees also apply to dependent family members.

  6. Immigration Healthcare Surcharge: Pay the healthcare surcharge of £624 per person annually.

  7. Application Processing: Applications are typically processed within three weeks. You may be asked for additional evidence or to attend an interview.

 

Innovator Founder Visa Extension

After approval, the Innovator Founder Visa grants up to three years of stay. To extend beyond this period, follow these steps:

  1. Timely Application: Submit your extension application before your current visa expires.

  2. Eligibility Criteria: Continue to meet the initial eligibility requirements.

  3. Business Continuity: Continue operating your existing business or demonstrate plans to establish a new one.

Extension Procedure

  1. Complete Online Application Form: Fill out the required online application form for the visa extension.

  2. Proof of Identity: Provide evidence of identity using the same methods as in the initial application.

  3. Application Fee: Pay the extension application fee of £1,486.

  4. Document Submission: Submit any additional documents requested by the Home Office.

 

Pathway from Innovator Founder Visa to Indefinite Leave to Remain (ILR)

A vital advantage of the Innovator Founder Visa is its pathway to settlement (ILR) in the UK.

ILR Requirements:

  1. Residency Requirement: Reside in the UK for a continuous three-year period on your Innovator Founder Visa.

  2. Absence Limitation: Stay within the UK for no more than 180 days in any one year.

  3. Endorsement Renewal: Obtain a new endorsement reflecting business growth.

  4. Life in the UK Test: Pass the Life in the UK Test.

  5. Timely Application: Apply for ILR 28 days before becoming eligible.

ILR Application Process:

  1. Application Fee: The fee for ILR as an Innovator Founder Visa holder is £2,885 per applicant.

  2. Processing Time: Decisions are typically rendered within six months.

For detailed guidance, contact our immigration solicitors at

or complete our contact form.

Specializing in providing effective immigration advice and visa services for individuals and businesses worldwide. Our expert team is dedicated to making the immigration process straightforward and stress-free. Regulated by the OISC, we uphold the highest standards of care and practice. Contact us for your immigration needs.

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