The Innovator Founder visa is to help experienced business owners and start-up entrepreneurs interested in launching a new venture in the UK. Interestingly, this visa doesn’t require applicants to have funds for investment. Instead, applicants must have an innovative and scalable business idea, along with a business plan approved by an endorsing entity.
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Plus, applicants for the Innovator Founder Visa need to have a significant contribution to their business idea while having a primary role in developing and managing their venture on a daily basis.
Don’t forget Innovator Founder visas have a validity of 3 years and can help applicants obtain indefinite leave to remain in the UK directly when their visa expires. Moreover, applicants are free to have their partner and children below the age of 18 years accompany them to the UK.
Eligibility Requirements For An Innovator Founder Visa
Here are the requirements you have to fulfill to obtain an Innovator Founder visa successfully.
- 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.
To conclude, the eligibility requirements you have to meet will depend on your specific circumstances. Therefore, you are advised to consult an immigration lawyer to receive an expert’s advice.
We hope you found this information helpful. Follow our blogs for the latest updates and informative content on UK immigration.