INNOVATOR FOUNDER VISA
The innovator founder visa is for individuals who have an idea for a new business which they want to start in the UK. The business idea must be innovative, viable, and scalable. You will need an endorsement from an approved body before you can apply. With only 3 years required, this is one of the fastest routes to settlement in the UK.
WHAT YOU CAN DO
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Set up and work for your business
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Undertake additional work (RQF Level 3 or above)
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Bring your spouse, partner and/or child
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Study (subject to ATAS condition)
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Leave the UK and return without issue
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Renew your visa
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Switch to a different visa
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Apply for indefinite leave to remain after 3 years
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Stay in the UK if your endorsement is withdrawn
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Receive public funds (benefits)
WHAT YOU CAN'T DO
REQUIREMENTS
Valid Passport
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You must have a passport which is valid at the time you apply.
English Language
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You must prove your English language ability in the reading, writing, speaking, and listening categories at a minimum CEFR Level of B2.
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Alternatively, if you have an academic qualification taught in English, you may apply to have your qualification verified by ECCTIS.
English Language Exemption
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You will be exempt from the English language requirement if you are a national of any of these countries:
Barbados
Beliza
Canada
Dominica
St Kitts and Nevis
The Bahamas
Grenada
St Lucia
Guyana
St Vincent and the Grenadines
Jamaica
Trinidad and Tobago
The British Overseas Territories
Malta
New Zealand
United States of America
Financial Requirements
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You must show sufficient funds to support yourself and any dependants joining you in the UK.
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The current requirement is at least £1,270 in your account for at least 28 consecutive days with the last day being within 31 days of the date of application.
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If your dependants are joining you, you must show an additional £285 for your partner, £315 for your first child, and £200 for each additional child. Example - You must show £1,870 if you are applying with your wife and child
Additional Requirements
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You may be required to take a tuberculosis test, depending on your country of application.
ENDORSEMENT
Official Endorsement Letter
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You will need an official endorsement letter from an endorsing body approved by UKVI.
Endorsing Bodies
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Your application must be made directly to one of the following:
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Envestors Limited
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UK Endorsing Services
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Innovator International
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The Global Entrepreneurs Programme
Endorsement Fee
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The current fee for endorsement applications is £1,000 and must be paid directly to the endorsing body to which you are applying.
Endorsement Validity
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You must use your endorsement letter to apply for an innovator founder visa no later than 3 months after the date it was issued.
The application fee for an innovator founder visa depends on where you are applying from.
If you are applying from outside the UK, the fee is currently £1,274.
If you are switching to the innovator founder visa from within the UK, or you already have an innovator founder visa and are applying to extend it, the fee is currently £1,590.
You will also have to pay £1,035 per year for the Immigration Health Surcharge.
All fees remain the same for any dependants included in your application or who apply to join you at a later date.
TERM AND FEES
PROCESSING
The processing time for innovator founder applications is approximately 3 weeks for applications made from outside the UK and approximately 8 weeks for applications from within the UK.
You may be eligible to pay for a faster decision by purchasing the priority or super-priority service, depending on availability.
Successful Application
If your application for a innovator founder visa is successful, your immigration status will be updated on your UKVI account.
Application Refused
If your application for an innovator founder visa is refused, you will receive a refusal letter outlining the reasons. There is no right of appeal, but you may consider applying for an administrative review if you believe an incorrect decision has been made based on a casework error.
An application for administrative review costs £80 and can be made online. It must be made within 28 days of the refusal (if you're outside the UK) or within 14 days (if you're inside the UK).
OUTCOME
NEXT STEP
If you want to remain in the UK beyond your innovator founder visa, you can extend your visa or apply to settle. To extend, you must receive a new endorsement for your existing business or a new business idea.
SETTLEMENT
If you are planning to settle in the UK at the end of your 3 years on the innovator founder route, you must obtain an endorsement letter from an endorsing body which confirms all of the following:
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You have shown significant achievements, judged against the business plan assessed in your previous endorsement.
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Your business is registered with Companies House and you are listed as a director or member.
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Your business is active and trading.
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Your business appears to be sustainable for at least the next 12 months (based on its assets and expected income) when assessed against its current and planned expenses.
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You have demonstrated an active key role in the day-to-day management and development of your business.
Your endorsement letter must also confirm at least two of the following:
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At least £50,000 has been invested into your business and actively spent furthering the business; or
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The number of your business' customers has at least doubled within the last 3 years and is currently higher than the average customer base of similar UK businesses offering comparable products or services; or
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Your business has engaged in significant research and development activity and has applied for intellectual property protection in the UK; or
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Your business has generated a minimum annual gross revenue of £1million in the last full year covered by its accounts; or
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Your business has generated a minimum annual gross revenue of £500,000 in the last full year covered by its accounts, with at least £100,000 from exporting overseas; or
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Your business has created the equivalent of 10 full-time jobs for settled workers; or
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Your business has created the equivalent of 5 full-time jobs for settled workers, each of which has an average gross salary of at least £25,000 per year (excluding any allowances).
HOW WE CAN HELP
Innovator founder visas can be complex, particularly if you have yet to receive an official endorsement or are unsure of your eligibility for settlement. Mistakes can be costly, time-consuming, and may have a significant impact on future immigration applications to the Home Office, which means it is very important to have experts by your side who can make the process easier and give much needed confidence to make a strong application.
At Lace Law LLP, we offer comprehensive support throughout your innovator founder visa journey. From your initial consultation to the final decision, you will have a dedicated expert who will meticulously prepare your application, maintain regular communication, and promptly respond to any concerns along the way. We pride ourselves on this personal approach, which we feel not only provides a greater experience to you, but also increases the likelihood of a successful outcome.
Don't let the process be more stressful than it needs to be. Contact us today to have a dedicated partner by your side on your immigration journey.
