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INNOVATOR FOUNDER VISA

The Innovator Founder Visa caters to both established businesspersons and aspiring start-up entrepreneurs who are keen on establishing a business in the UK. There is no minimum investment requirement for this visa, but applicants must present an innovative and scalable business idea supported by an endorsing body-approved business plan. It is also necessary that applicants have contributed significantly to the creation of their business idea and intend to play an active role in its day-to-day management and development.

Successful applicants will be granted a 3-year Innovator Founder Visa, which can lead to indefinite leave to remain in the UK at the end of the period. Additionally, the visa permits the applicant to bring along their partner and any children below 18 years old to the UK.

Requirements for an Innovator Founder Visa

In order to qualify for an Innovator Founder Visa you will need to satisfy UK Visas and Immigration that:

  • You are at least 18 years old;
  • You have an endorsement letter from an approved UK endorsing body that confirms that;
  • You are a fit and proper person to receive endorsement under the Innovator Founder route;
  • The endorsing body has no concerns over the source of any funds invested into your business;
  • The endorsing body has no reason to believe that you or your business may be the beneficiary of illicit or unexplained wealth;
  • You have a business plan and you either generated or made a significant contribution to the ideas in that business plan;
  • You will have a day-to-day role in carrying out the business plan;
  • You will have at least two Contact point meetings with the endorsing body at regular intervals;
  • You are either the sole founder or an instrumental member of the founding team; and
  • You have an innovative, viable, and scalable business venture;
  • Your endorsement letter was issued not more than 3 months before the date of your Innovator visa application;
  • You are competent in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening, and speaking);
  • If you are outside the UK or have been in the UK for less than 12 months, you have at least £1270 to support yourself, plus £285 for a dependent partner, £315 for a first child, and £200 for each additional child;
  • Your application does not fall for refusal on general grounds for refusal;
  • You have provided a TB test certificate if required.

The exact requirements you will need to satisfy may vary depending on the circumstances of your case. You may want to speak to an immigration lawyer for expert advice.

Who Is the Innovator Founder Visa Suitable For?

The Innovator Founder Visa is appropriate for individuals who are either start-up entrepreneurs or experienced businesspersons seeking to establish a business in the UK that is both innovative and scalable. Typically, applicants will have a new business idea that has not yet been established. However, it is permissible for an applicant to join a business after it has been registered with Companies House, provided the business has not yet begun trading. In such cases, the Home Office will need to be convinced that the applicant has made a significant contribution to the business plan and was not added merely to facilitate investment.

Innovator Founders can work independently as the sole founder or as part of a founding team, provided they play a vital role in the team’s establishment. The business idea may be from any industry, but it must be innovative, feasible, and scalable, and it must be backed up by a comprehensive business plan.

If you are interested in joining an existing trading business, the Skilled Worker visa may be more suitable. Alternatively, if you are a senior manager or specialist employee of a foreign business looking to establish a commercial presence in the UK, you may want to explore the UK Expansion Worker visa instead.

Investment Funds Requirement for an Innovator Founder Visa

The Innovator Founder Visa does not have a fixed requirement for investment funds. Instead, applicants must present a business idea that is viable and scalable. This means that while there is no specific amount of funds needed to invest in the proposed business, it is essential to demonstrate that sufficient investment funds are available to establish and expand the business.

The investment funds requirement for the Innovator Founder Visa is designed to be flexible and can be met by individuals who have a legitimate innovative business proposal and the necessary financial resources to support it. The specific financial needs of the business will determine the appropriate level of investment funds needed to satisfy this requirement. Therefore, applicants must provide evidence of their access to the required funds, as this will be a crucial factor in assessing the viability and scalability of their business idea.

New Business Endorsement Criteria

In order for your new business proposal to be endorsed by a Home Office-approved endorsing body, and an Innovator Founder endorsement letter issued, the endorsing body will need to be satisfied that you meet various requirements:

Innovator Founder Visa General Requirements

The endorsing body will need to confirm that:

  • You are a fit and proper person to receive endorsement under the Innovator Founder route;
  • The endorsing body has no concerns over the source of any funds invested into your business;
  • The endorsing body has no reason to believe that you or your business may be the beneficiary of illicit or unexplained wealth.
Innovator Founder Visa Business Plan Requirement

In order to satisfy the Innovator Founder business plan requirement, you will need to have a business plan and have either generated or made a significant contribution to the ideas in that business plan. 

You will also need to demonstrate that you will have a day-to-day role in carrying out the business plan and confirm that you will have at least two Contact point meetings with your endorsing body at regular intervals during your period of permission.  

You will also need to be either the sole founder or an instrumental member of the founding team.

Innovator Founder Visa Innovative, Viable and Scalable Business Requirement

In order to satisfy the innovative, viable, and scalable business requirement for an Innovator Founder Visa, your business idea will need to meet all of the following criteria:

  • Innovation: You must have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage;
  • Viability: Your business plan must be realistic and achievable based on your available resources and you must have, or be actively developing, the necessary skills, knowledge, experience, and market awareness to successfully run your business;
  • Scalability: There must be evidence of structured planning and of potential for job creation and growth into national and international markets.

Same Business Endorsement Criteria 

If you are pursuing a business that has previously been assessed by a Home Office-approved endorsing body while you had permission on the Innovator, Innovator Founder, Start-up, or Tier 1 (Graduate Entrepreneur) route, either for a previous endorsement application or at a contact point, then you may also apply for a further endorsement as an Innovator Founder.

This might be appropriate if you are looking to switch to the Innovator Founder route from one of the aforementioned routes or apply for an extension of stay as an Innovator Founder.

In order to qualify for an endorsement on the basis of running the same business as in a previous endorsement application, and receive an Innovator Founder endorsement letter, you will need to satisfy a Home Office-approved endorsing body that:

  • Your business is registered with Companies House and you are listed as a director or member of the business;
  • Your business is active, trading, and sustainable;
  • You have made significant progress against your business plan;
  • You are active in the day-to-day management and development of your business

If you have, or last had, permission as an Innovator or Innovator Founder, you will also need to demonstrate that you attended at least 2 Contact point meetings with your endorsing body (or similar checkpoints with a legacy endorsing body) at regular intervals during your period of permission and confirm that you will have at least two Contact point meetings with the endorsing body at regular intervals during your period of permission.

Innovator Founder Visa Endorsing Bodies

As part of the requirements, endorsing bodies are crucial to your application process. UK Citizenship Limited will help you formulate the right plans before sending you to the endorsing bodies.

 

UK Innovator Founder Visa English Language Requirement

The English Language Requirement for the UK Innovator Founder Visa must be met by all applicants, unless an exemption applies. This requirement involves demonstrating English language ability in all four components (reading, writing, speaking, and listening) at a minimum of B2 level on the Common European Framework of Reference for Languages.

Innovator Founder Visa Financial Requirement

To apply for an Innovator Founder Visa, an applicant must demonstrate personal funds of at least £1,270 held for a 28-day period prior to the date of application.

Applying for an Innovator Founder Visa as Part of a Team

Applicants can apply for the Innovator Founder Visa as part of a founding team, but each individual must be an instrumental member of the team and receive their own individual endorsement from an approved endorsing body.

Switching Into the Innovator Founder Visa Category

It is possible to switch into the Innovator Founder Visa category from within the UK, but only if the applicant has not previously been granted permission as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household, or outside the Immigration Rules.

Innovator Founder Visa Application Fee

The application fee for an Innovator Founder Visa is currently £1,036 if applying from outside the UK or £1,292 if applying to switch into the category from within the UK. In addition, applicants must pay a £1,000 (ex. VAT) endorsement fee to the relevant endorsing body.

Innovator Founder Visa Validity Period

An Innovator Founder Visa is valid for an initial period of 3 years and can be extended for further periods of 3 years, subject to being re-endorsed each time. There is no maximum time limit in this category, and applicants can apply for indefinite leave to remain after spending 3 years in the Innovator Founder Visa category.

Innovator Founder Visa Conditions of Stay

As an Innovator Founder Visa holder, applicants are expected to work for the business or businesses they have established. They may engage in employment outside the running of their business, provided it is in a skilled role.

Innovator Founder Visa Contact Point Meetings 

Applicants must have at least two contact point meetings with their endorsing body at regular intervals during their permission as an Innovator Founder. These meetings are to assess progress against the business plan and ensure reasonable progress toward an innovative, scalable, and viable business. Failure to undergo a contact point meeting may result in the cancellation of the Innovator Founder Visa.

Indefinite Leave to Remain as an Innovator Founder

In order to qualify for indefinite leave to remain as an Innovator Founder you will need to satisfy UK Visas & Immigration that:

  • You have been endorsed by an approved UK endorsing body that is satisfied that you have shown significant achievements judged against the business plan assessed in your previous endorsement, you are registered with Companies House as a Director or Member of your business, your business is active, trading and appears sustainable for at least the following 12 months and you have had an active key role in the day-to-day management and development of the business;
  • You satisfy at least two of the following:
    • At least £50,000 has been invested into the business and actively spent furthering your business;
    • The business has created the equivalent of at least 5 full-time jobs for settled workers, which have an average salary of at least £25,000 a year;
    • The business has created the equivalent of at least 10 full-time jobs for resident workers with no average salary requirement;
    • The number of customers has at least doubled within the most recent 3 years and is currently higher than the mean number of customers for other UK businesses offering comparable main products or services;
    • The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK;
    • The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts;
    • The business has generated a minimum annual gross revenue of £500,000 in the last full year covered by its accounts, with at least £100,000 from exporting overseas.
  • You have spent not more than 180 days outside the UK in any rolling 12-month period during the 3 years prior to the date of application; and
  • You have sufficient knowledge of the English language and Life in the UK.

The Innovator Founder Visa application process is divided into eight stages. The stages are as follows:

Complete the Innovator Founder Visa Enquiry Form to receive a free initial assessment of your suitability for an Innovator Founder visa. A barrister will review your responses and respond within 24 hours.

If you pass Stage 1, an initial consultation meeting will be held to ensure that you can satisfy the general eligibility requirements of the Immigration Rules for an Innovator Founder visa.

An initial consultation meeting will be held to listen to your business idea and advise you whether it is appropriate to take it forward to an endorsing body. This stage can run concurrently with Stage 1.

Having completed stages 1 and 2, we will formally introduce you and your business plan to one or more Home Office-approved endorsing bodies.

The endorsing body will have an initial consultation where you can pitch your concept and business plan. If they feel that it is appropriate to take the proposal forward, they will spend time with you to fully understand your model and other requirements necessary to make sure your concept has the best prospect of being endorsed.

The endorsing body will have an initial consultation where you can pitch your concept and business plan. If they feel that it is appropriate to take the proposal forward, they will spend time with you to fully understand your model and other requirements necessary to make sure your concept has the best prospect of being endorsed.

The endorsing body will need to know everything about you and the source of your funds. This process will normally run concurrently with Stage 4.

Once you have secured an endorsement, we will prepare your Innovator Founder Visa application and submit it to the Home Office.

Once your Innovator Founder Visa application has been approved by the Home Office, you will be able to enter the UK to start deploying your investment funds and developing your business concept. we will continue to support you until ILR is achieved after 3 years.

Our team has experience in assisting all types of innovative entrepreneurs and their businesses, and they are experts in immigration options for innovators. They pride themselves on being approachable and proactive in meeting their client’s needs and providing clear and reliable immigration advice.