The Innovator Founder Visa is a specialized visa category introduced by the UK government to attract foreign entrepreneurs who wish to establish and run an innovative business in the UK. This visa is designed for individuals with original business ideas that are distinct from existing offerings in the market, and it requires endorsement from an approved body.

Eligibility Criteria

To qualify for the Innovator Founder Visa, applicants must meet several key criteria:

1. New Business Idea: The applicant’s business idea must be new; they cannot join an existing business that is already trading.
2. Innovative Concept: The business idea must be innovative, meaning it should offer something unique that differentiates it from other businesses in the market.
3. Viability and Growth Potential: The applicant must demonstrate that their business idea is viable and has potential for growth. This includes providing evidence of a solid business plan.
4. Scalability: Applicants need to show plans for scaling their business, which includes creating jobs and expanding into national and international markets.
5. Endorsement Requirement: A crucial step in the application process is obtaining endorsement from an approved endorsing body, which assesses whether the business idea meets the necessary criteria.
6. English Language Proficiency: Applicants must prove their ability to speak, read, write, and understand English, typically through standardized tests or qualifications.
7. Application Process
8. The application process for the Innovator Founder Visa involves several steps:
9. Online Application: Applicants must complete an online application form specific to their circumstances (whether applying from outside or inside the UK).
10. Identity Verification: As part of the application, individuals will need to prove their identity and provide supporting documents. This may involve biometric information such as fingerprints and photographs.

Decision Timeline: After submitting the application and required documents:

• Decisions are usually made within 3 weeks for those applying from outside the UK.
• For applicants already in the UK seeking to extend or switch visas, decisions typically take around 8 weeks.
• Fees: The cost of applying varies based on location:
• £1,191 per person if applying from outside the UK.
  £1,486 per person if extending or switching visas within the UK.
• Additionally, applicants are required to pay a healthcare surcharge as part of their visa application.

Duration of Stay

• Successful applicants are granted permission to stay in the UK for up to three years. During this time:
• They must meet with their endorsing body at intervals (after 12 months and again after 24 months) to demonstrate progress with their business.
• If they wish to remain longer than three years, they can apply for an extension without any limit on how many times they can do so.
• After three years on this visa, individuals may also apply for settlement (indefinite leave to remain) if they meet all eligibility requirements.

Rights and Restrictions

• With an Innovator Founder Visa, holders can:
• Establish one or multiple businesses.
• Work within their own business as a director or self-employed individual.
• Engage in skilled work outside of their own business under certain conditions.
• Bring eligible family members (partner and children) as dependents who can also work or study during their stay.

However, there are restrictions:

• Visa holders cannot access public funds (benefits).
• They cannot work as professional sportspersons or coaches.
• This visa route aims not only to support individual entrepreneurs but also to contribute positively to the UK’s economy by fostering innovation and job creation.

For more enquiries on a UK innovator founder visa, book a consultation with a consultant with e-lhr