You might need to consider applying for the Innovator Founder visa if you’re an entrepreneur from abroad planning to kickstart a business in the UK. As of April 2023, this pathway opened up, enabling non-UK nationals to enter the UK for business setup purposes. It supersedes the Innovator and Start-up routes, emerging as the primary visa option for foreign business proprietors aiming to establish their ventures in the UK.
What is the UK Innovator Founder Route?
The Innovator Founder visa, introduced in April 2023, provides an opportunity for non-UK residents to establish businesses in the UK. The temporary work visa supersedes both the Innovator route and the Start-up visa, now serving as the primary option for foreign entrepreneurs seeking to launch ventures in the UK.
The Innovator Founder visa combines the appealing features of its predecessor routes, including:
- No minimum investment requirement of £50,000
- Reduced endorsement check-in with endorsing bodies ー now just two, down from three under the Start-up rules
- Permitted secondary employment under certain conditions
- A pathway to UK settlement ー time spent in the UK under this visa can contribute towards meeting the residence requirement for indefinite leave to remain.
To qualify, the business must receive the endorsement, demonstrating that it is based on an innovative, viable, and scalable idea originated or significantly contributed to by the applicant.
How to Apply for an Innovator Founder Visa?
The application process for an Innovator Founder visa consists of the following stages:
- Draft your business plan.
- Seek endorsement from an approved endorsing body in the UK.
- Once endorsed, complete the appropriate online application form on the Home Office website. The form required depends on whether you are switching from another visa while in the UK or applying from outside the country.
- Upon submission of your application form, verify your identity. You can achieve this by either:
- Visiting a visa application center to have your fingerprints and photograph taken for a biometric residence permit. A fee of £19.20 applies for this service.
- Use the “UK Immigration: ID Check” app to scan your identity document.
- Pay the application fee of £1,191 (if applying from outside the UK) or £1,486 (if applying from within the UK). These fees are consistent for accompanying family members.
- Settle the immigration healthcare surcharge for the entire duration of your visa, currently priced at £1,035 per person per year.
- Applications are typically processed within 3 weeks. However, if additional evidence is required or you are summoned for an interview, the process may take longer. You will be notified if there are any delays.
Which Documents do I need to Include in an Innovator Visa Application?
The required documents for an Innovator Visa application vary depending on individual circumstances. However, the following documents must always be included in your evidence portfolio:
- Current passport or valid travel identification
- Proof of passing a B2 English language test (if applicable)
- Bank statements demonstrating savings of at least £945 in your account for 90 consecutive days before application
- Evidence of investment funds
- Tuberculosis test results if mandated by your country of origin
- Any non-English or non-Welsh documents must be translated by an accredited translator.
Innovator founder visa extension
If your Innovator Founder visa is approved, you’ll receive up to three years of leave to remain in the UK to initiate your proposed business. Upon the conclusion of this three-year term, you can seek an extension if you intend to continue your stay, with no limit on the number of extensions.
Extending your Innovator Founder visa should pose no issues if:
- You apply for the extension before your current visa expires.
- You still satisfy the eligibility criteria met during the initial grant of your Innovator visa.
- You are still actively operating your business in the UK or do intend to establish a new one.
- To apply for an extension of your Innovator Founder visa, you must:
- Complete the online application form.
- Provide proof of identity (as detailed earlier in the application process).
- Pay the online application fee of £1,486.
- Submit any documents requested.
The UK Innovator Founder Visa offers a promising pathway for aspiring entrepreneurs from around the world to establish and grow their businesses in the UK. With its streamlined application process, generous extension options, and emphasis on innovation, this visa category presents a unique opportunity for driven individuals to realize their entrepreneurial ambitions on British soil. Whether seeking to launch a startup or expand an existing venture, the Innovator Founder Visa stands as a beacon of opportunity in the global landscape of business migration.
