The UK is a global hub for innovation and entrepreneurship, with a long history of supporting and encouraging start-ups and new businesses.
If you are an overseas entrepreneur looking to start a business in the UK, this Innovator Founder Route is for you.
What is an Innovator Founder Visa?
The Innovator Founder Visa route is for a person seeking to establish a business in the UK based on an innovative, viable and scalable business idea they have generated, or to which they have significantly contributed.
When does the Innovator Founder route open for applications?
The Innovator Founder Visa is expected to launch on 13 April 2023.
What’s the difference between Innovator Founder Visa and Innovator Visa?
There are two main differences between Innovator Founder Visa and the Innovator Visa.
Previously, the Innovator Visa route required a £50,000 investment found and does not allow you to do any work outside of your business or employed by another business.
The new Innovator Founder Visa has removed the of £50,000 investment funds requirement. It will also allow you to take additional work apart from your business, giving you the flexibility to earn extra income. However, the additional job must be at least RQF level 3.
Innovator Founder Visa requirements
To apply for an Innovator Founder Visa, the applicant must meet the following criteria:
- Must be aged 18 or above.
- Must have been issued with an endorsement letter by an endorsing body.
- Your endorsement letter must be issued no more than 3 months before the date of your application.
- Must have a key role in the dayday management and development of the business.
- English Language B2 level (equivalent to IELTS 5.5 in reading, writing, listening and speaking)
- If you are applying from outside the UK, you’ll need financial proof to show you can support yourself in the UK, with at least £1,270 in your bank account for the last 28 days period.
How long can you stay under an Innovator Founder Visa?
The applicant will be granted permission for a maximum period of 3 years.
Does the Innovator Founder Visa lead to settlement?
The Innovator Founder route is a route to settlement. Time spent under the Innovator Founder Visa route will count for UK Settlement.
How can WorkPermitCloud help?
The Home Office will publish more details about Innovator Founder Visa route on 13 April, we stay on top of Immigration news, we’ll keep you updated with the latest news.
At WorkPermitCloud, we offer professional immigration advice regulated by the Office of the Immigration Services Commissioner (OISC). We have a dedicated team to assist you with the visa application process. Our professional immigration advisers can assist you throughout your journey to maximise the probability of success on your visa application. We make sure your immigration and visa applications are processed correctly and your journey is seamless.
Contact us via email info@workpermitcloud.co.uk
