UK Innovator Founder Visa
Applying for an innovator founder visa is possible:
- If you wish to launch and operate an innovative company in the UK, it must provide something unique from competing products.
- If an authorized authority, also referred to as an endorsing body, has given its endorsement to your company or business idea.
- If you fulfill the remaining requirements for eligibility.
Previously, this visa was known as the Innovator visa.
Requirements for an Innovator Founder Visa
You must have your business or business idea evaluated by an endorsing body prior to applying. If your company qualifies, you will receive a letter of recommendation from them.
It must be demonstrated that your company concept is:
- unique, as you are not permitted to join an existing company;
- innovative, as you must have a unique business concept that sets you apart from competitors;
- feasible, with room for expansion
- Scalable, which means You have to demonstrate that you have planned to develop into both domestic and foreign markets and to create jobs.
you also need to:
- Be at least 18 years old.
- fulfill the English language requirement.
- Be able to demonstrate that you have sufficient personal savings to sustain yourself while in the UK.
To start a new business, you need to prove to your endorsing body that you have enough money from a reliable source. If your business is already established and approved for a previous visa, or if you have already changed your business and your endorsing body has approved it, you don’t need any investment capital. However, if you’re applying for an Innovator Founder visa or renewing your current one, you must have at least £1,270 in your bank account for 28 consecutive days. Remember not to use any investment funds or income from illegal employment in the UK to support yourself.
What Are the UK Innovator Founder Visa English Language Requirements?
As stated in the Common European Framework of Reference for Languages (CEFR), you must demonstrate that you can read, write, speak, and understand English at a level B2 or above.
If you are a citizen of one of the English-speaking nations, you are exempt from having to demonstrate your proficiency in the language.
How long can you stay in the UK With an innovator founder visa?
With the Innovator Founder visa, you can stay in the UK for 3 years. You must meet with your endorsing body after 12 and 24 months to show progress. If the endorsement is withdrawn, your visa may be terminated. To stay longer, reapply with a fresh endorsement. You can extend your stay for an additional 3 years, multiple times. After 3 years, you could be eligible for settlement.
How Can you Apply for an Innovator Founder Visa?
You have to submit an online application. How you apply depends on whether you’re:
- outside the UK and are coming to the UK
- inside the UK and extending your current visa
- inside the UK and switching from a different visa
If they qualify, your partner and kids could apply to come to live with you or remain in the UK as your “dependents.”
After submitting your online application, verifying your identity, and providing the necessary documents, you can typically expect to receive a decision on your visa within a certain timeframe. If you are currently outside of the UK, this timeframe is usually 3 weeks. If you are currently inside the UK, the timeframe is typically 8 weeks. In some cases, you may be able to expedite the process by paying for a quicker decision. The process for doing so will depend on whether you are inside or outside of the UK.
Fees
Application cost varies based on origin. For those applying from outside the UK, the cost is £1,191 per person. If you apply in the UK to switch or extend your visa, the cost is £1,486 per person.
In addition, the healthcare surcharge must be paid at the time of application.
What can and cannot be done with a UK Innovator Founder Visa?
With an Innovator Founder visa, you can set up and work for your business, do skilled work outside your business, bring dependents, travel abroad, and apply for indefinite leave to remain. However, you cannot work as a professional sportsperson or apply for most public funds and State Pensions.
What happens If you’re not eligible for an Innovator Founder visa?
You might be able to work in the UK with a different kind of visa.
LaunchingMax
At LaunchingMax, we are experts in assisting new companies. Our legal team possesses a deep understanding of the intricate regulations and guidelines required for a successful Innovator Founder visa application. We take immense pride in our ability to comprehend our clients’ needs and respond to them promptly. Our highly motivated staff is dedicated to providing entrepreneurs with dependable and easy-to-understand immigration assistance courteously and professionally.
