Understanding the 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.

What are the requirements for an Innovator Founder Visa?

1. Must be 18 years old or above
2. Must have been issued with an endorsement letter by an endorsing body.
3. Your endorsement letter must be issued no more than 3 months before the date of your application.
4. Must have a key role in the day to day management and development of the business.
5. You must be able to show that your business idea is: new - you cannot join a business that is already trading; innovative - you must have an original business idea which is different from anything else on the market; viable - with potential for growth; scalable - you must give evidence of planning that includes creating jobs and growing into national and international markets
6. You need to have at least two Contact point meetings with the endorsing body at regular intervals
7. meet the English language requirement CEFR B2 level (equivalent to IELTS 5.5 in reading, writing, listening and speaking)
8. 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 much does it cost to apply for an Innovator Founder Visa?

The fees include the Application Fee and Healthcare surcharge fee.

If you’re switching to this visa within the UK, you also need to pay £19.20 to have your biometric information (fingerprints and a photo) taken.

The fees for your dependants are the same.

Application Fee:

 

Who you’re applying for	Apply (outside the UK)	Extend or switch (in the UK)
Applicant	£1,191	£1,486
Applicants partner and children	£1,191 each person	£1,486 each person

 

Healthcare surcharge: 

£624 per year

Processing time

After submitting your online application, normally you’ll get a decision within 3 weeks if you’re outside the UK, and 8 weeks if you’re inside the UK.

Endorsement for an Innovator Founder visa

1. You must have your business idea supported by a UK endorsing body that has evaluated it for new, innovative, viable and scalable.
2. Your endorsement letter must be issued no more than 3 months before the date of your application.
3. Any business activities in the UK listed in your application must be something you truly want to do and are capable of doing.

An approved endorsing body must be satisfied that your business plan satisfies all of the following requirements in order for it to be endorsed:

1. Innovation: You have a real, unique company idea that addresses new or existing market demands and/or gives you a competitive edge.
2. Viability: Has the potential for growth
3. Scalability: Your business plan has the ability to create jobs and expand into new areas across the country.
4. The endorsing body will also want to know that you will be spending most of your working time in the UK on your new company projects.

Home Office approved Endorsing bodies for Innovator Founder Visa

Home Office has published a list of endorsing bodies that can issue endorsements letters:

Envestors Limited

UK Endorsement Services

Innovator International

The Global Entrepreneurs Programme (GEP)

The Legacy Innovator Endorsing Bodies no longer accept new Start-up/Innovator applications but are authorised to continue maintaining and monitoring their existing endorsed migrants. Click here to find a list of Legacy Innovator Endorsing Bodies.

Contact Point Meeting under Innovator Founder Visa

You’re required to have at least two contact point meetings with your endorsing body at regular intervals under the Innovator Founder Visa. A contact point meeting refers to a mandatory meeting between the visa holder and their endorsing body. The purpose of these meetings is to provide guidance, support and advice to the visa holder and to ensure that they are progressing in their business as planned. Failure to attend these meetings can result in the cancellation of the visa.

Take additional work under Innovator Founder Visa

You can do work outside your business, as long as it’s ‘skilled work’, the second job must be either on the skilled worker eligible occupation list or a job that is at RQF 3 level or above. However, you can not work as a professional sportsperson.

How long can I stay under an Innovator Founder Visa for the UK?

If your Innovator Founder Visa application is sucessful, you will be granted permission of stay for a maximum of 3 years.