Applicants for an Innovator Founder Visa must have generated, or have significantly contributed to, their business idea. Innovator Founders must also intend to have a key role in the day-to-day management and development of their business.
Innovator Founder visas are valid for 3 years and can lead directly to indefinite leave to remain in the UK at the end of this period. Innovator Founder Visa applicants can bring their partner and any children under the age of 18 to the UK.
Requirements for an Innovator Founder Visa
In order to qualify for an Innovator Founder Visa you will need to satisfy UK Visas and Immigration that:
- You are at least 18 years old;
- You have an endorsement letter from an approved UK endorsing body that confirms that:
- You are a fit and proper person to receive endorsement under the Innovator Founder route;
- The endorsing body has no concerns over the source of any funds invested into your business;
- The endorsing body has no reason to believe that you or your business may be the beneficiary of illicit or unexplained wealth;
- You have a business plan and you either generated or made a significant contribution to the ideas in that business plan;
- You will have a day-to-day role in carrying out the business plan;
- You will have at least two Contact point meetings with the endorsing body at regular intervals;
- You are either the sole founder or an instrumental member of the founding team; and
- You have an innovative, viable and scalable business venture;
- Your endorsement letter was issued not more than 3 months before the date of your Innovator visa application;
- 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;
- Your application does not fall for refusal on general grounds for refusal;
- You have provided a TB test certificate, if required.
Who Is the Innovator Founder Visa Suitable For?
The Innovator Founder Visa is suitable for both start-up entrepreneurs and experienced businesspersons who are looking to set up a business in the UK which is innovative, viable and scalable.
Generally, applicants will have a new business idea and the business will not already exist. However, it is permissible for an individual to join a business after it has been registered with Companies House, providing the business has not already started trading. Where this occurs, the Home Office will want to be satisfied that the applicant made a significant contribution to the business plan and was not added to an existing business plan primarily for the purpose of facilitating investment.
Innovator Founders can work on their own as a sole founder, or together as part of a founding team, providing they are an instrumental member of the founding team.
The business idea may relate to any sector, provided the idea is sufficiently innovative, viable and scalable and is supported by a business plan.
Investment Funds Requirement for an Innovator Founder Visa
Innovator Founder Visa applicants do not need to show any specific amount of funds to invest in their proposed business.
However, the requirement to have a ‘viable’ and ‘scalable’ business idea means that, in practice, you will need to demonstrate that you have access to a level of investment funds that is sufficient to set up and grow your business.
The investment funds requirement for an Innovator Founder Visa is, therefore, a flexible provision that is capable of being satisfied by anyone with a genuine proposal for an innovative business and an appropriate level of funds to deliver it, based on the specific financial needs of their business.
List of Approved Innovator Founder Visa Endorsing Bodies
The following is a list of Endorsing Bodies that have been approved by the Home Office to issue an endorsement letter in connection with an application under the Innovator Founder route:
UK Innovator Founder Visa English Language Requirement
Unless an exemption applies, Innovator Founder Visa applicants must show English language ability on the Common European Framework of Reference for Languages in all 4 components (reading, writing, speaking and listening) of at least level B2.
Innovator Founder Visa Financial Requirement
An applicant who is applying for entry clearance as an Innovator Founder will need to show that they have at least £1,270 in personal funds held for a 28-day period prior to the date of application.
Applying for an Innovator Founder Visa as Part of a Team
You do not need to be the sole founder of your business and you may be a member of a founding team. However, if applying as part of a founding team you will need to be an instrumental member of the team and each applicant must receive their own individual endorsement from an approved endorsing body.
Switching Into the Innovator Founder Visa Category
Applications for Innovator Founder visas can be made from outside the UK, but it is also possible to switch into the Innovator Founder visa category from within the UK provided you do not have, or were not last granted, permission as a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, Domestic Worker in a Private Household or outside the Immigration Rules.
Indefinite Leave to Remain as an Innovator Founder
In order to qualify for indefinite leave to remain as an Innovator Founder you will need to satisfy UK Visas & Immigration that:
- You have been endorsed by an approved UK endorsing body that is satisfied that you have shown significant achievements judged against the business plan assessed in your previous endorsement, you are registered with Companies House as a Director or Member of your business, your business is active, trading and appears sustainable for at least the following 12 months and you have had an active key role in the day-to-day management and development of the business;;
- You satisfy at least two of the following:
- At least £50,000 has been invested into the business and actively spent furthering your business;
- The business has created the equivalent of at least 5 full-time jobs for settled workers, which have an average salary of at least £25,000 a year;
- The business has created the equivalent of at least 10 full-time jobs for resident workers with no average salary requirement;
- The number of customers has at least doubled within the most recent 3 years and is currently higher than the mean number of customers for other UK businesses offering comparable main products or services;
- The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK;
- The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts;
- The 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.
- You have spent not more than 180 days outside the UK in any rolling 12 month period during the 3 years prior to the date of application; and
- You have sufficient knowledge of the English language and Life in the UK.
