The Innovator Founder Visa offers a fast-track route for entrepreneurs with innovative, scalable business ideas to launch and grow their ventures in the UK.
The Innovator Founder visa is a specialised immigration category designed to attract and support entrepreneurial talent from around the world. The route provides a unique opportunity for foreign nationals with innovative ideas to set up and run their own business in the UK.
The business must be something that’s different from anything else on the market, must be endorsed, and all eligibility requirements must be met. Benefits of this route include work flexibility (including working in the business and in other jobs if needed, if this does not interfere with the development of the business). Read on for our guide to this route.
Eligibility
To be eligible under this route, the business must be:
- New — cannot join a business that is already trading
- Innovative — must be an original business idea which is different from anything else on the market
- Viable — potential for growth
- Scalable — including creating jobs and growing into national and international markets.
Evidence must be provided to prove these criteria are met.
Endorsement
Before applying, the business or business idea must be endorsed by an approved body, also known as an endorsing body.
Unless exempt, applicants must prove to the endorsing body that enough funding is available and where it’s from.
English language requirement
Applicants must be able to speak, read, write and understand English and need to prove their knowledge of English when they apply, unless they are exempt by virtue of being from a majority English language speaking country.
Supporting funds
Applicants must evidence they have had at least £1,270 in their bank account for 28 consecutive days before applying for an Innovator Founder visa or applying to extend their Innovator Founder visa or switch to an Innovator Founder visa if they have been in the UK for less than a year.
Further information about the funds needed and how to evidence can be found in the guidance on financial evidence.
Age requirement
Applicants must be at least 18 years old.
Tuberculosis test results
Applicants must provide tuberculosis test results if they are applying from a country where they have to take the test.
Dependants
It is possible for a partner and children to apply to join the main applicant or stay in the UK as ‘dependants’ if they’re eligible.
Indefinite leave to remain
After 3 years, individuals under this route may be able to apply for indefinite leave to remain (ILR) in the UK. Again, all eligibility requirements must be met. You must have spent no more than 180 days outside the UK in any 12 months.
Summary
The innovator founder visa is designed to attract talented entrepreneurs who have innovative business ideas and are looking to make a significant impact in the UK economy.
Unlike other types of visas in the UK, the innovator founder visa has a greater emphasis on innovation rather than just investment. It also offers a more flexible approach for starting and scaling a business in the UK, with few financial requirements.
Additional details can be found in the Immigration Rules — Appendix Innovator Founder.
For support with obtaining an innovator founder visa, contact our immigration solicitors.
