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What is the UK Innovator Founder Visa?
The UK Innovator Founder Visa is a visa designed to attract entrepreneurs with innovative business ideas to the UK. It allows foreign nationals to set up and run a new, innovative business in the country.
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Innovator visa benefits!
No Large Investment
Unlike other visas, applicants don't need a specific amount of investment funds.
3 year work visa!
The visa grants permission to live and work in the UK for 3 years, with the possibility of a 3-year extension.
IRL opportunity!
Successful applicants can eventually apply for indefinite leave to remain (settlement) in the UK on meeting criteria.
Benefits for Dependants!
Applicants can bring dependents (partner and children under 18). They have access to healthcare and education services to help integrate them into the country.
Scope for Change!
Provision to pivot from the original business model as per needs of the market and grow into something different.
Job opportunities!
Option to engage in “skilled work” opportunities outside your business for additional financial security.
Frequently asked questions!
Criteria for the UK Innovator Founder Visa?
The primary criteria revolve around the business idea presented by the applicant. It should be innovative, meaning it offers something new or a unique approach to the UK market; viable, indicating that the business has a practical and sustainable model; and scalable, showcasing potential for growth, especially in a domestic or international context. Additionally, applicants must have their business plans endorsed by an approved endorsing body.
Can I extend my stay in the UK after my 3 year UK Innovator Founder Visa expires?
Yes, the Innovator Founder Visa is initially granted for a 3-year period. After this, you can apply for an extension or move directly to "indefinite leave to remain" if you meet the specific criteria, including successful business milestones and contributions to the UK economy.
Do I need to have a certain amount of funds to invest into my business to qualify for the UK Innovator Founder Visa?
No, there isn't a specific minimum investment threshold for the Innovator Founder Visa. However, you must demonstrate a genuine commitment to your business idea and its successful execution. It's crucial that your business idea is backed by a sound business plan and endorsed by an approved body, which assures its innovative, viable, and scalable nature.
Requirements
You are competent in the English language to at least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening and speaking)
If you are outside the UK or have been in the UK for less than 12 months, you have at least £1270 to support yourself, plus £285 for a dependent partner, £315 for a first child and £200 for each additional child.
Must be at least 18 years old.
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