UK Innovator Founder Visa
Overview
The UK Innovator Founder Visa is designed for entrepreneurs who are looking to establish an innovative business in the UK. This visa is suitable for individuals who have a viable, scalable business idea that is endorsed by a recognized endorsing body. Unlike its predecessor, the Innovator Visa, the Innovator Founder Visa allows applicants to bring a co-founder and does not have a minimum investment requirement, making it a more flexible option for new business founders.
Key Features
No Minimum Investment: Applicants are not required to have a minimum investment amount. The focus is on the business idea and its potential to grow.
Endorsement: Applicants must receive endorsement from a Home Office-approved endorsing body, which will assess the business idea for its innovation, viability, and scalability.
Duration: The visa is valid for up to 3 years, with the possibility of extending or applying for permanent residency.
Flexibility: Applicants can engage in other business activities alongside their endorsed business.
Eligibility Criteria
To qualify for the Innovator Founder Visa, applicants must meet the following criteria:
Endorsement by an Approved Body: You must have a business proposal that is endorsed by an approved endorsing body in the UK. The endorsing body will evaluate the innovation, viability, and scalability of your business idea.
Genuine and Credible Business Plan: Your business plan must be realistic and show a clear understanding of the market and competitors.
English Language Requirement: You must prove your English language proficiency at a minimum of CEFR Level B2 (equivalent to IELTS 5.5).
Maintenance Funds: You must have enough personal savings to support yourself in the UK. Currently, you must show that you have at least £1,270 available.
Age Requirement: You must be at least 18 years old.
Application Process
To apply for the Innovator Founder Visa, follow these steps:
Secure Endorsement: Obtain an endorsement letter from a Home Office-approved endorsing body. Your business idea must be innovative, viable, and scalable.
Online Application: Complete the online visa application form and provide the necessary documents.
Biometric Information: Provide your biometric information (fingerprints and photo) at a visa application center.
Visa Fee and Health Surcharge: Pay the visa application fee and the Immigration Health Surcharge (IHS).
Decision: Await the decision from the UK Visas and Immigration (UKVI) department.
Costs and Fees
Visa Application Fee: The application fee for the Innovator Founder Visa is £1,036 if applying from outside the UK and £1,292 if applying from within the UK.
Immigration Health Surcharge: You will need to pay the IHS, which is currently £624 per year.
Rights and Limitations
With an Innovator Founder Visa, you can:
Start and run your own business in the UK.
Work for your own business and engage in other business activities.
Bring your partner and children as dependents.
However, you cannot:
Work as a doctor or dentist in training.
Work as a professional sportsperson or sports coach.
Access public funds or benefits.
Pathway to Settlement
After 3 years on the Innovator Founder Visa, you may be eligible to apply for Indefinite Leave to Remain (ILR) in the UK, provided you meet certain criteria, such as:
Your business being registered with Companies House.
Your business being active, trading, and sustainable.
You have played a key role in the day-to-day management and development of the business.
Why Choose Cliff Inc. for Your Innovator Founder Visa?
At Cliff Immigration Inc., we specialize in helping innovative entrepreneurs realize their business dreams in the UK. Our team of expert immigration consultants will guide you through every step of the application process, from securing endorsement to submitting your visa application. With our comprehensive support and tailored advice, you can confidently embark on your journey to establishing a successful business in the UK.
