Innovator Founder Visa

Innovator Founder Visa: Comprehensive Guide

The Innovator Founder Visa is designed for individuals looking to establish and run an innovative business in the UK. This visa requires your business idea to be unique, offering something distinct from what is currently on the market, and it must be endorsed by an approved body.

Key Features of the Innovator Founder Visa

To apply for an Innovator Founder Visa, you must:

• Propose an innovative business idea that is new, viable, and scalable.
• Obtain an endorsement from an approved body, confirming your business idea meets the necessary criteria.
• Meet the general eligibility requirements, including language proficiency and financial stability.

This visa allows individuals to stay in the UK for up to 3 years, with the possibility of extending or applying for permanent settlement (Indefinite Leave to Remain).

Eligibility Criteria

To qualify for the Innovator Founder Visa, your business idea must meet the following criteria:

An endorsing body will assess whether your business idea satisfies these requirements.

English Language Requirement

Applicants must demonstrate proficiency in the English language (speaking, reading, writing, and understanding) at CEFR Level B2. This can be proven through one of the following methods:

• Passing a Secure English Language Test (SELT) from an approved provider.
• Holding a GCSE, A-level, or similar qualification in English, gained while studying at a UK school.
• Holding a degree-level qualification taught in English, which may require confirmation from Ecctis if obtained outside the UK.

Visa Duration and Extensions

The Innovator Founder Visa is initially granted for 3 years. You can:

• Extend your visa for another 3 years, with no limit on the number of extensions.
• Apply for settlement (Indefinite Leave to Remain) after 3 years if you meet the necessary requirements.

Endorsement reviews will be conducted after 12 and 24 months to ensure progress on your business. Failure to meet endorsement requirements could lead to the withdrawal of your visa.

Application Process

How to Apply

You can apply for the Innovator Founder Visa online. The application process depends on your location:

• Outside the UK: You will apply as a first-time entrant.
• Inside the UK: You can extend or switch to this visa from another type of UK visa.

Required Documents

You will need the following documents when applying:

• A valid passport or travel document showing your identity and nationality.
• An endorsement letter from an approved endorsing body.
• Bank statements showing at least £1,270 in savings for 28 consecutive days before applying.
• Proof of your English language proficiency.
• Tuberculosis test results (if applicable).

If documents are not in English or Welsh, a certified translation will be required.

Application Fees

You will also need to pay the healthcare surcharge as part of the application.

Decision Time

Once your application has been submitted and you’ve proven your identity, you will usually receive a decision within:

• 3 weeks (if applying from outside the UK).
• 8 weeks (if applying from inside the UK).

A faster decision service may be available for an additional fee.

Innovator Founder Visa Benefits

Supporting Yourself in the UK

You will need to prove you have enough personal savings to support yourself and any dependants. Specifically, you must have:

• At least £1,270 in your bank account for 28 days before your application.
• Additional amounts for dependants: £285 for a partner, £315 for the first child, and £200 for each additional child.

This amount cannot come from your investment funds or any income earned illegally while in the UK.
Partner and Children as Dependants

Your partner and children can apply to join you in the UK if they meet the eligibility requirements. If successful, their visa will usually have the same expiry date as yours.

Financial Requirement for Dependants

You (or they) will need the following available funds in your/their bank account(s) for 28 days before the application:

• £285 for a partner.
• £315 for the first child.
• £200 for each additional child.