Innovator Founder visa

The Innovator Founder Visa

Overview: Start Your UK Business

The UK Innovator Founder Visa offers a unique opportunity for emerging start-up entrepreneurs and professionals looking to expand. This visa pathway is designed for individuals aspiring to launch or expand a business in the United Kingdom. Unlike many other visa categories, there is no minimum investment requirement. 

However, candidates must present a business concept that is not only innovative and viable but also has the potential for scalability and growth. Each business idea needs to be substantiated by a solid business plan that has received endorsement from an approved and recognised body.

Eligibility hinges on your contribution to the business idea. As an applicant, you must be the brainchild of the concept or have played a substantial role in its creation. Moreover, you are expected to take on a pivotal role in both the daily operations and strategic direction of your business.

The Innovator Founder Visa is more than just an immigration path to the UK; it is a three-year journey that may result in obtaining indefinite leave to remain in the UK. Hence, it may even pave the way for permanent residency for a successful founder. Furthermore, the visa accommodates your family, allowing you to bring your partner and children under 18 to the UK.

Correspondingly, consider that expanding or starting your business venture in the UK may also open doors to a Skilled Worker visa through self-sponsorship, which is an alternative available for those already operating an existing UK business or standing on the verge of establishing one.

Axis Solicitors can help you turn your entrepreneurial pursuits into reality with the Innovator Founder Visa – where your own innovation, ambition, and leadership converge to create lasting business success in the UK.

Eligibility and Requirements for the Innovator Founder Visa

Key Eligibility Criteria for the UK Innovator Founder Visa

To be considered for the UK Innovator Founder Visa, candidates must meet the following requirements criteria set by UK Visas and Immigration, ensuring they are well-positioned to contribute to the UK’s business landscape:

• Age Criteria: Candidates should be a minimum of 18 years old.
• Endorsement: A crucial component of your application is securing an endorsement letter from a recognised UK endorsing body. This letter must attest to the following:
• Your suitability and integrity as an applicant under the Innovator Founder route.
• The endorsing body’s confidence in the legitimacy of your business funding.
• Assurance that neither you nor your business is involved in or the recipient of illicit or inexplicable wealth.
• Your ownership or significant contribution to the business plan.
• Your commitment to being actively involved in the day-to-day and strategic operations of the business.
• At least two scheduled engagement meetings with the endorsing body to maintain a close collaborative relationship.
• Your position is that of the only founder or a crucial part of the founding team.
• Your business idea must be innovative, viable, and capable of scaling.
• Timing of Endorsement: The endorsement letter must be dated no more than three months prior to your visa application.
• Language Proficiency: A command of the English language at or above CEFR Level B2 (akin to an IELTS score of 5.5 across reading, writing, listening, and speaking).
• Financial Backing: Evidence of adequate financial resources to sustain yourself (a minimum of £1270) and any dependents (extra sums for spouses and kids) if you are applying from abroad or have resided in the UK for under a year.
• Health Checks: Provision of a TB test certificate, if required, based on your country of application.
• General Suitability: Your application should not be subject to refusal on any general grounds as specified by UK immigration rules.

Given the complexity and specificity of these requirements, we recommend applicants consult with an immigration solicitor for accurate and personal legal guidance. Tailored advice can ensure your application reflects your qualifications and intentions, optimising your pathway to success in the UK business environment.

English Language Proficiency for the UK Innovator Founder Visa

The English language requirements for the Innovator Founder Visa applicants, unless exempt, are required to demonstrate proficiency in the English language across four skills: reading, writing, speaking, and listening. The proficiency level must meet or exceed Level B2, as defined by CEFR.  This ensures applicants possess a sufficient command of English to effectively communicate and operate within the UK business environment.

Financial Threshold for the UK Innovator Founder Visa Application

To meet the financial criteria for the UK Innovator Founder Visa, candidates seeking entry clearance must prove possession of a minimum of £1,270 in personal savings. This amount should be maintained in their bank account for at least 28 days immediately preceding the application date. This requirement is designed to ensure applicants have the necessary funds to support themselves upon their arrival in the UK, prior to the establishment and income generation of their business venture.

Business and Investment Criteria

Clarifying the Investment Funds Criterion for the UK Innovator Founder Visa

For aspirants of the UK Innovator Founder Visa, there’s a unique approach when it comes to the financial investment aspect. Unlike other visa categories, there’s no predetermined minimum investment sum required for your business proposition. However, the essence of presenting a business idea that is both “viable” and “scalable” implicitly necessitates access to adequate funding. This funding should be sufficient to not only initiate but also to sustain and expand your business.

Thus, the investment fund’s stipulation under this visa is adaptable and designed to accommodate a wide range of business ventures. What matters most is your ability to illustrate a credible plan for an innovative enterprise, backed by sufficient financial resources tailored to your business’s particular requirements. This provision ensures flexibility, allowing entrepreneurs to focus on the innovativeness and potential impact of their business, rather than being constrained by strict financial thresholds.

Defining the Criteria for an Innovative, Viable, and Scalable Business in the Innovator Founder Visa Program

For your venture to qualify under the Innovator Founder Visa, it must embody the principles of innovation, viability, and scalability, each of which plays a crucial role in demonstrating the potential success and impact of your business idea in the UK market:

• Innovation: Your business proposal should introduce a novel concept or solution, addressing either new or existing market gaps. It should clearly illustrate how it differentiates from competitors, offering unique value propositions or creating a competitive edge that sets it apart.
• Viability: The business plan must not only be ambitious but also grounded in reality, showcasing a clear path to achieving its goals. This involves having access to, or being in the process of acquiring, the essential skills, knowledge, and market insight needed to navigate the business towards success. It’s critical that the plan is backed by realistic financial projections and operational strategies that highlight your capability to manage and sustain the business effectively.
• Scalability: A key aspect of your business concept is its capacity for growth. The plan should document detailed strategies for expansion, potential for job creation, and the ability to scale operations both nationally and internationally. Evidence of structured planning and a clear vision for scaling your business is vital to meet this criterion.

Meeting these requirements demonstrates not only the potential of your business idea but also your readiness and capability to lead a venture that can contribute significantly to the UK’s dynamic business landscape.

Crafting Your Business Plan for the Innovator Founder Visa

Achieving the business plan requirement for the Innovator Founder Visa involves a few critical steps to ensure your entrepreneurial vision aligns with the visa’s objectives:

• Comprehensive Business Plan: Your application must include a detailed business plan. This plan should be one you’ve created or to which you’ve made substantial contributions. It should outline the innovative nature of your business idea, its viability, scalability, and how it will be implemented.
• Active Involvement: You must illustrate your commitment to being actively involved in the day-to-day execution of the business plan. This includes demonstrating your role in the management and operational decisions of the business.
• Continuous Engagement: Confirm your willingness to engage in at least two scheduled meetings with your endorsing body at predetermined intervals throughout your visa period. These meetings are designed to review progress, address challenges, and ensure the business is on track according to the initial plan.
• Foundational Role: It is essential that you are either the sole founder of the business or play a significant, instrumental role within the founding team. This requirement emphasises the need for your direct, ongoing contribution to the business’s success.

Meeting these criteria not only strengthens your Innovator Founder Visa application but also lays a solid foundation for the successful establishment and growth of your business in the UK.

Endorsement Process and Criteria

Endorsement Criteria for the UK Innovator Founder Visa

Endorsement Criteria for New Business Ventures

Securing an endorsement for your new business idea is a pivotal step in the Innovator Founder Visa application process. This endorsement must come from an endorsing body approved by the Home Office. To achieve this, the endorsing body must be convinced that your business proposal aligns with a set of specific criteria, ensuring it has the potential for success and innovation within the UK market.

General Requirements for the Innovator Founder Visa Endorsement

For your business concept to gain the necessary endorsement under the Innovator Founder Visa scheme, the endorsing body, accredited by the Home Office, must verify several key aspects of your application:

• Personal Integrity: It’s essential that you are recognised as a fit and proper individual eligible for endorsement through the Innovator Founder pathway. This assessment underscores the need for applicants to have a clear background in relation to their professional and personal conduct.
• Legitimate Funding: The endorsing body must be fully assured regarding the legitimacy of the financial resources allocated to your business. This means they will thoroughly review the origins and legality of your investment funds to ensure there are no underlying concerns.
• Transparency and Legality: Additionally, there must be no suspicion or evidence suggesting that either you or your business venture are involved in, or beneficiaries of, illicit activities or funds of unexplained origins.

These criteria serve to ensure that the Innovator Founder Visa is awarded to reputable entrepreneurs with transparent and lawful business intentions and practices.

Approved Endorsing Bodies for the Innovator Founder Visa

For individuals pursuing the Innovator Founder Visa, securing an endorsement from a Home Office-approved body is a crucial step. These organisations are authorised to issue endorsement letters essential for Innovator Founder visa applications. As of now, the following entities are recognised as approved endorsing bodies:

• Investors Limited
• UK Endorsement Services
• Innovator International
• The Global Entrepreneurs Programme (GEP)

Additionally, there exists a category known as ‘Legacy Endorsing Bodies.’ These bodies have the capacity to support Innovator visa holders who obtained their endorsement under the former Innovator Rules until they qualify for Indefinite Leave to Remain. For those who received an endorsement from a Legacy Endorsing Body prior to 13 April 2023, there is no necessity to seek a new endorsement from the currently listed bodies.

Application Process and Visa Management

Collaborative Application Process for the UK Innovator Founder Visa

Applicants for the UK Innovator Founder Visa are not required to pursue their business ventures solo. Participation as part of a collaborative founding team is welcomed, provided you play a pivotal role within the group. For team applications, it is essential that each member secures an individual endorsement from an approved endorsing body. This ensures that every participant contributes significantly to the innovation, viability, and scalability of the business idea, thereby strengthening the collective application.

Transitioning to the UK Innovator Founder Visa Category

The UK Innovator Founder Visa is accessible to individuals applying from abroad as well as those seeking to transition from another visa category while already in the UK. Eligibility for switching to the Innovator Founder visa category from within the UK extends to holders of various visa types with specific exclusions. You are not eligible to switch to the Innovator Founder Visa when your existing visa is either a Visitor, Short-term Student, Parent of a Child Student, Seasonal Worker, or Domestic Worker in a Private Household category of Visa. The pathway offers a flexible route for those looking to innovate and establish a business within the UK’s national and international market environment.

Innovator Founder Visa Fee Structure

For those applying for an Innovator Founder Visa, the Home Office charges a fee of £1,036 for applications submitted from outside the UK. For individuals already in the UK who wish to transition to this visa category, the application fee is set at £1,292. Additionally, applicants are required to pay an endorsement fee of £1,000 (excluding VAT) to the endorsing body that assesses and approves their business proposal. This fee structure is part of the comprehensive application process designed to support innovative entrepreneurs in establishing and scaling their businesses in the UK.

Duration and Extension of the Innovator Founder Visa

Upon approval, your Innovator Founder Visa grants you a three-year period of stay. You have the option to extend this visa in additional three-year increments, with each extension requiring a new endorsement. Notably, the Innovator Founder visa category imposes no cap on the total duration of stay. After a cumulative period of three years under the Innovator Founder Visa, you become eligible to seek Indefinite Leave to Remain (permanent settlement) in the UK, opening the pathway to long-term residency and contribution to the UK’s innovative landscape.

Terms of Residence for Innovator Founder Visa Holders

Holding an Innovator Founder Visa entails adhering to specific conditions throughout your stay. Primarily, your activities should be focused on developing and managing the business(es) you’ve initiated. Additionally, the visa allows you to take up employment beyond your entrepreneurial endeavours. However, any such external employment must align with skilled roles, defined as those requiring qualifications at or above RQF Level 3. This stipulation ensures that your primary commitment to innovation and business growth remains uninterrupted while still offering the flexibility to engage in supplementary skilled work.

Scheduled Progress Assessments for Innovator Founder Visa Holders

Under the stipulations of the Innovator Founder Visa, you are mandated to partake in at least two planned progress evaluations with your endorsing organisation during your approved residency. These assessments, referred to as contact point meetings, serve as pivotal checkpoints to evaluate your advancements in line with your business plan.

During these meetings, your endorsing body will review your progress to ensure that your business activities remain aligned with your initial, or possibly updated, innovative, scalable, and viable business proposition. The emphasis is on demonstrating tangible progress and ongoing commitment to your entrepreneurial venture.

Please be aware that failing to attend these scheduled assessments could result in the revocation of your Innovator Founder Visa. These meetings are crucial for maintaining transparency with your endorsing body and for providing evidence of your continuous dedication to your business project.

Pathway to Permanent Residency

Pathway to Indefinite Leave to Remain for Innovator Founders

Achieving indefinite leave to remain (ILR) as an Innovator Founder requires demonstrating substantial progress and commitment to your business venture in the UK. The criteria set by UK Visas & Immigration for ILR include:

• Endorsement Verification: Your business must be endorsed by an approved UK body, verifying significant achievements against the initial business plan, active and sustainable trade, and your essential role in the business’s day-to-day management and development.
• Business Performance Metrics: Applicants must meet at least two of the following performance criteria, showcasing the business’s impact on the UK economy:
• Investment of at least £50,000 in the business will be used to support its growth.
• Creation of at least 5 full-time positions for settled workers, each with an average salary of £25,000 or more, or at least 10 full-time positions without a salary requirement.
• Doubling the customer base within the last three years, surpassing the average for comparable UK businesses.
• Engagement in significant research and development activities, coupled with efforts towards intellectual property protection in the UK.
• Achievement of a minimum annual gross revenue of £1 million in the last financial year or £500,000 with at least £100,000 from exports.
• Residency and Language Proficiency:
• Applicants cannot have spent over 180 days outside the UK in any 12 months during the 3 years preceding the application.
• Proof of proficiency in the English language and understanding of life in the UK are required.

This pathway to ILR is designed to recognise and reward the contributions of Innovator Founders to the UK economy, requiring not just the successful navigation of the business environment but also a significant personal commitment to residing within the UK.

Criteria for Continued Endorsement as an Innovator Founder for Existing Businesses

For entrepreneurs aiming to transition into the Innovator Founder route or seeking to extend their stay under this classification and who are already operating a business previously evaluated by a Home Office-approved endorsing body, there exists an opportunity for further endorsement. This is particularly relevant for those transitioning from the Innovator, Innovator Founder, Start-up, or Tier 1 (Graduate Entrepreneur) routes or those applying for a renewal of their Innovator Founder status.

To secure an endorsement for continuing with the same business venture, the following criteria must be met to the satisfaction of a Home Office-approved endorsing body:

• Business Registration: Your venture must be officially registered with Companies House, with your name listed as a director or member.
• Operational Status: The business should be active, currently trading, and demonstrate sustainability.
• Progressive Achievement: There should be significant advancement in line with the initial business plan’s goals.
• Leadership Involvement: You must play an active role in the daily management and strategic development of the business.
• Engagement with Endorsing Body: For those previously or currently on an Innovator or Innovator Founder visa, it’s necessary to show attendance at a minimum of two Contact point meetings or equivalent sessions with the endorsing body or its legacy counterpart during your visa tenure. Additionally, a commitment to ongoing engagement with at least two Contact point meetings at regular intervals for the duration of the new permission period is required.

This framework ensures that entrepreneurs who continue to develop their ventures while meeting these specific benchmarks can successfully extend their journey in the UK as Innovator Founders, contributing to the country’s vibrant entrepreneurial ecosystem.

Steps and Support for Visa Acquisition

Acquiring an Innovator Founder Visa

8-Step Process

Are you ready to launch your innovative business in the UK? Our proven process simplifies your Innovator Founder Visa application:

1. Free Initial Assessment: Contact us to evaluate your eligibility.
2. Eligibility Verification: Schedule a consultation to confirm you meet all Innovator Founder Visa requirements.
3. Business Plan Evaluation: We will analyse your business idea’s innovation, viability, and scalability to determine its potential for endorsement.
4. Endorsement Connection: Our solicitors will use our trusted network to introduce you to the right UK endorsing bodies.
5. Pitch & Plan Review: Present your business plan directly to the endorser. Discuss your model projections and answer any questions.
6. Background Checks: The endorsing body will conduct due diligence to ensure compliance and integrity.
7. Meticulous Application: Once endorsed, we will meticulously prepare and submit your Innovator Founder Visa application with all required evidence.
8. Launch & Beyond: Receive ongoing support as you establish your UK business. Get guidance on the path towards Indefinite Leave to Remain (ILR).

Axis Solicitors Can Help

Innovator Founder Visa Application Success 

Axis Solicitors’ qualified team have experience and understanding of the unique challenges faced by innovative entrepreneurs. Whether you are launching a start-up or scaling an established enterprise, our solicitors offer expertise in UK immigration laws and policies affecting you as an innovator. 

We understand the importance of being both partners and legal advisors in your entrepreneurial journey. Our team is committed to delivering clear, reliable advice in a professional and welcoming manner tailored to meet the distinct needs of each entrepreneur and businessperson we serve.

For Innovator Founders seeking a trusted law firm to navigate UK immigration, our solicitors offer the expertise, support, and guidance necessary to achieve success.