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Skip to content Foreign entrepreneurs can come to the UK to start a new innovative business with the Innovator Founder Visa.
Starting in 2023, a new visa called the Innovator Founder will take its place, with distinct qualifications and perks. For more information, get in touch with our team today.
An Innovator Founder Visa UK is available to foreign entrepreneurs who wish to invest in a company in the UK.
To get instant support and guidance with the Innovator Founder Visa, dial 02033844389. In-person, over the phone, or online assistance is available from our immigration experts.
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In April 2019, the Tier 1 Entrepreneur Visa was replaced by the UK Innovator Visa. Later, in 2023, the Innovator visa was changed to the Innovator Founder visa. For seasoned entrepreneurs looking to launch a new venture in the UK, there is the Innovator Founder Visa option.
Even though the £50,000 minimum investment is waived through this option, you will still require launch money, UK residency, and an endorsement. Now, innovator founders can balance jobs and school (up to A-level) without letting it affect their company.
The initial validity period of the Innovator Founder Visa is three years, with an additional three-year extension possible. After only three years of lawful presence in the UK, holders of Innovator Founder Visas may be entitled to apply for Indefinite Leave to Remain status.
It is necessary to meet the following conditions to be eligible for a UK Innovator startup visa:
If you want to get an endorsement (which is explained below), you have to carefully write up a full business plan for your new or current innovative business.
Your business plan needs to show that your idea is:
Creative: You will have to give an original and honest business plan that shows how you will meet a need in the market, give yourself an edge over other businesses, or both.
Viable: The plan needs to show that you have a good chance of making the business work. Showing that you have the experience, market understanding, business skills, and experience to make this happen is part of this.
Large-scale: Proof that there is real ability to grow the business, create jobs, and enter new markets in the US and other countries will have to be at the core of your business plan.
If you want to apply for an Innovator founder visa in the UK, one of the most important things is that your innovative business or new business idea must be backed by a recognised UK endorsing group. The following groups can approve Innovator Founder Visas:
The endorsing body might think about the following when choosing whether to give an endorsement:
You need an endorsement before you can apply. This makes sure that only businesses that are likely to succeed can move on to the next step, which is the application. Speaking to your endorsing body will give you information on how to apply for endorsement and explain their method. You will get a letter of endorsement if your application for endorsement is approved. You can then use this letter to apply for your Innovator startup visa.
If you want to get an Innovator founder visa, you will need to show that you can speak and write English well. This includes you.
Additionally, you must demonstrate that you possess sufficient funds to sustain your stay in the UK. To meet this requirement, you must exhibit that you have £1,270 in your bank account 28 days before your application.
For more detailed and up-to-date information, it’s recommended to consult the official UK government website or call 02033844389.
Not only do candidates need to meet the investment fund requirements, but they must also have a minimum of £1,191 when applying from outside the UK and £1,486 when applying to extend or switch from within the UK for 90 consecutive days prior to applying for the Innovator Founder Visa.
You can’t use money from investments or illegal work in the UK to show that you meet this requirement.
There is a £1,035 annual healthcare surcharge fee that applicants must pay. There are also endorsement fees of £1,000 plus VAT and review meeting fees of £500 per meeting with an approving body.
The English language test, TB tests (if needed), and biometric registration fees may cost extra.
These fees are subject to change, and applicants should verify the latest costs on the official UK government website. Call 02033844389.
The exact documents you need to send with your application for an Innovator Founder Visa depend on your situation.
Even so, you will always need to have the following papers in your portfolio of evidence:
Anything that isn’t written in English or Welsh needs to be translated by a certified translator.
It is very important that all the required papers are included in your application and that they follow the strict guidelines set by the Home Office. If you don’t do that, your application will be automatically rejected.
At the UK Immigration Solicitors, one of our very experienced immigration lawyers can help you gather all the necessary papers and make sure your portfolio meets the standards needed. To find out more, call us right now at 02033844389.
Here are the steps you need to take to apply for an Innovator founder visa:
Applications are usually looked at within three weeks, but you will be told if it will take longer. It’s possible that this will happen if more proof is needed or if you are asked to come in for an interview.
If you get the Innovator founder visa, you will be able to stay in the UK for up to three years to start the business you want to establish. If you want to stay longer than 3 years, you can ask for an increase at the end of that time. Additionally, there is no limit on extensions.
You won’t have any trouble getting an extension on your Innovator founder visa as long as:
To ask for an extension on your Innovator founder visa, you will need to:
Applications for an innovator founder visa renewal usually take eight weeks to process. While you wait for a decision from the Home Office, you can keep running your business.
The Innovator Founder Visa offers a direct route to permanent residency (ILR) in the UK, which is a major perk for applicants.
If you have ILR, you can stay in the UK permanently without having to go through immigration checks. After another year, you can ask for British citizenship.
To get permanent residency with an Innovator founder visa, you must live and work in the UK for three years and meet the other requirements for the method. All of these depend on how well your new business does. This helps to check that applicants are legitimate and operate their businesses as indicated. Here are some important things to keep in mind:
You may switch from another UK visa to the Innovator Founder Visa.
To move to the Innovator Founder Visa, you will need to get approval from an official body, just like when you apply for the Innovator Founder Visa in the first place.
You could switch from one of the following visas if you meet the conditions and are already in the UK:
Also, if you want to switch from a student visa to this one, one of the following must be true:
When you go to the UK on an Innovator Founder Visa, you can bring some family members with you. People in your family will be considered those who count on you.
The following people will be considered dependents:
Someone who already lives in the UK can also change their visa to stay with you as a dependant. They have to apply as either a dependant partner or a dependant child in this case.
After getting all the necessary papers together and getting a letter of support from a recognised group, you can fill out the Innovator Founder Visa application form.
You can apply for the Innovator Founder Visa up to three months before you plan to visit the UK.
If you apply for the Innovator Founder Visa from outside of the UK, the Home Office should get back to you in three weeks with a decision. It can take up to eight weeks for applications sent from inside the UK. Besides that, applications for dependents will be handled within eight weeks.
The Home Office may take longer to process your application if they have any doubts about it. For example, you might be asked to have some supporting papers checked.
Yes, you will need to give your fingerprints and a photo when you apply for an Innovator Founder Visa.
You’ll be asked to make an appointment at a UK Visa and Citizenship Application Services point to give your photo and fingerprints after you’ve sent in your application.
The price of a UK Innovator Founder Visa changes based on where you apply from and your personal circumstances.
Who? | Standard Application | Extend or Switch |
You | £1,191 | £1,486 |
Your partner and children | £1,191 per person | £1,486 per person |
You may remain in the UK for three years if your application is accepted.
Your visa can be extended at the end of the three years if you still meet the standards and want to start a new business in the UK or keep the one you have going.
It’s not necessary to have £50,000 in investment funds to renew your Innovator Founder Visa if your business was already backed when you first applied.
On the application for an Innovator Founder Visa extension, you will also need to list any dependents who are on your present Tier 1 Innovator visa.
The UK has many places where we have offices, such as London, Manchester, Birmingham, and many more. We’re excited to help you with your visa case.
