Innovator Founder Visa

The Innovator Founder Visa is a programme tailored for international entrepreneurs who aim to start an innovative business in the UK. This visa is particularly suitable for those planning to create and manage businesses that provide unique products or services which are not readily available in the market. Applicants must demonstrate to the endorsing body that they have the necessary financial resources and a reliable funding source, which is critical when launching a new business.

Holders of this visa can stay in the UK for up to three years, with the option to extend for another three years. One of the most attractive features of this visa is the possibility to qualify for permanent residence after just three years, which is sooner than the standard five-year requirement for Indefinite Leave to Remain (ILR).

Innovator Founder Visa Requirements

To be eligible for a UK Innovator Founder Visa, applicants must meet the following criteria:

• Age: Must be at least 18 years old.
• Business Intent: Must aim to establish and run an innovative business in the UK.
• Endorsement: Must secure an endorsement for their business plan from a recognised UK endorsing body.
• Language Proficiency: Must meet the English language requirements, which can be fulfilled by passing an English language test, holding a degree taught in English, or being from a country where English is the official language.
• Financial Sufficiency: Must show they can financially support themselves while in the UK, with evidence of having at least £1,270 in their bank account for 28 consecutive days before applying.
• Business Plan: To secure endorsement, applicants must create a detailed business plan for their innovative venture, which must demonstrate:
  • Innovativeness: Provide an original and authentic business concept that meets a new or existing market need and/or presents a competitive edge.
  • Viability: Show realistic prospects for success, based on the applicant’s relevant experience, market insight, business acumen, and the capacity to implement the plan effectively.
  • Scalability: Highlight the business’s potential for growth, employment generation, and expansion into national and international markets.

Extension of the Innovator Founder Visa

On approval, you’ll receive up to three years’ leave to remain in the UK to commence your business. You can apply for extensions after this period, with no cap on the number of times.

To be eligible for an extension, you must:

• Apply before your current visa expires.
• Continue to meet the initial eligibility requirements.
• Maintain active involvement in running your business in the UK or have plans to start a new one.

To apply for an extension:

• Complete the online application form.
• Provide proof of identity (as required during the initial application).
• Pay the online application fee of £1,486.
• Submit any additional documents requested by the Home Office.

Extension applications typically take around 8 weeks to process, during which you are permitted to continue operating your business.

Innovator Founder Visa to Indefinite Leave to Remain (ILR)

One of the primary advantages of the Innovator Founder Visa is its clear pathway to settlement in the UK, known as Indefinite Leave to Remain (ILR). ILR grants permanent residence in the UK, exempting individuals from immigration control, and enables eligibility for British citizenship after an additional year.

To obtain ILR with an Innovator Founder Visa, the following criteria must be met:

• Residence in the UK for three years under the Innovator Founder Visa; time spent on other visa types does not count towards ILR.
• Absence from the UK for no more than 180 days within any 12-month period.
• Obtaining a new endorsement demonstrating fulfilment of business growth requirements.
• Completion of the Life in the UK Test.
• Eligibility to apply for ILR 28 days before meeting the requirements.

The application fee for ILR as an Innovator Founder Visa holder is £2,885 per application. Decisions regarding ILR applications are typically reached within six months.