Overview
The Innovator & Founder Visa UK is a UK visa specifically designed for entrepreneurs wanting to set up and run an innovative business in the UK. It has replaced the old Tier 1 (Entrepreneur) Visa and aims to support individuals who have genuinely ground-breaking business ideas that have the potential to really take off.
Eligibility Criteria
1. Business Idea
For this visa, your business needs to be:
Unique – it has to bring something new and different to the market, that people will actually want to use.
Realistic – the business plan should have a genuine chance of success in the long run.
Expanding – it has to have a good shot at growing into a large business that creates jobs and can really make a mark.
You’ll also need to get endorsed by a recognized body that has a track record for backing innovative business ideas.
2. Endorsement
To cut, you’ll need to obtain an endorsement letter from a respected endorsing body confirming that your business idea covers all three innovation, viability, and growth potential boxes.
Once you have your visa, you can expect regular progress reviews by your endorsing body to keep things on track.
3. Money Matters
You’ll need £50,000 to invest in a new business (not needed if you’ve already got a business up and running) and enough personal cash to support yourself without relying on the UK taxpayer.
4. English Language Standards
You’ll need to prove you can speak English to a good enough standard (CEFR Level B2 or better).
5. Funds for Living Costs
You’ll also need to show you’ve got enough money stashed away to support yourself while you’re in the UK, the amount will depend on where in the UK you’re planning to stay and what visa you’re applying for.
Application Process:
Step 1: Get Endorsed
Apply to one of the bodies that have been approved to give endorsements. Once they’ve given the thumbs up, you’ll get an endorsement letter, which you’ll need to go ahead with your visa application.
Step 2: Submit Your Visa Application
Fill in your visa application online through the official UK Government website.
Provide your biometric details – that’s your photo and fingerprints.
Pay the application fee and the health surcharge.
Step 3: Get Your Documents in Order
You’ll need to send in documents for your endorsement letter, proof of how you’ve got the cash to invest in your business, proof that you can speak English, your passport or travel document, and any other business and financial documents that are required.
Visa Expiry :
- The visa is initially valid for up to 3 years – as long as your business continues to grow and stay viable, you can renew it indefinitely.
After 3 years, you might be able to start thinking about applying for Indefinite Leave to Remain (ILR).
Work Rights:
You can work for your own business and take on other jobs as long as they don’t get in the way of any business duties you have
Your Family
You can bring your partner, spouse and kids with you to the UK but you’ll have to be able to support them and show you’ve got the cash to do so.
Settlement
- Switching to Innovator & Founder Visa
If you’re already in the UK on another type of visa, you might be able to switch to this one – provided you meet the requirements and get the necessary endorsement.
Your Hidden Questions — FAQ
The Innovator Founder Visa allows individuals to come to the UK to establish and run an innovative, viable, and scalable business. This visa replaced the Tier 1 (Entrepreneur) visa and is aimed at those with groundbreaking business ideas.
- Endorsement: You must obtain an endorsement from an approved endorsing body.
- Business Idea: Your business idea must be innovative, viable, and scalable.
- Investment Funds: You need at least £50,000 in investment funds unless you have already invested this amount in your business.
- English Language: You must meet at least CEFR level B2 in English.
- Maintenance Funds: You need to show you can support yourself financially.
Apply to an approved endorsing body. They will assess your business idea and, if it meets their criteria, provide you with an endorsement letter.
- Application Fees
- Applying from outside the UK: £1,191 per person.
- Extending or switching from inside the UK: £1,486 per person.
Endorsement Fees
- Endorsement consideration: £1,000 (payable to the endorsing body, excluding VAT).
- Checkpoint assessments at 12 and 24 months (about 2 years): £500 each (payable to the endorsing body, excluding VAT)
Immigration Health Surcharge (IHS)
- £624 per year
The visa is typically granted for up to 3 years. You can apply for an extension or for Indefinite Leave to Remain (ILR) if you meet the requirements.
Yes, you can apply to extend your visa for another 3 years if your business is still running and meeting the requirements.
Yes, you can bring your spouse, partner, and children as dependents, provided you can support them financially.
You can work on your business and take on other employment as long as it does not interfere with running your business.
To qualify for ILR, you generally need to have lived in the UK for 3 years on this visa, meet the residence requirements, and continue to meet the criteria for your business.
Yes, you can switch to this visa from another visa category, but you must meet all the Innovator Founder Visa requirements and obtain endorsement before applying.
- Get Endorsed: Secure an endorsement from an approved body.
- Apply Online: Submit your visa application online, provide biometric information, and pay the required fees.
- Provide Documents: Submit required documents, including the endorsement letter, proof of funds, proof of English proficiency, and any additional supporting documents.
Visa rules and fees are subject to change. Always check the UK government’s official immigration website or consult with an immigration advisor for the most current information.
Visit the UK Government’s official Immigration website for the latest updates, detailed guidelines, and application instructions.
Processing times can vary, but it usually takes around 8 weeks (about 2 months) from the date of your application. If you’re applying from outside the UK, processing times might differ.
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