What It Is

The Innovator Founder visa, formerly known as the Innovator visa, is designed for entrepreneurs with original, viable, and scalable business ideas. It allows applicants to launch new ventures rather than join existing companies, ensuring that only truly innovative projects gain entry. Successful applicants can build businesses that expand both in the UK and worldwide.

Eligibility & Endorsements

To qualify, entrepreneurs must:

• Obtain an endorsement from a relevant endorsing body, which will assess whether your idea meets the criteria for innovation, viability, and scalability.
• Completed assessment of English under one of the approved tests for reading, writing, speaking and understanding.

Duration & Residency Path

The visa will allow you to stay for three years when applied for as an entrepreneur (whether you are granted the endorsement from outside the UK or switching from another visa). During that three-year period:

• You will be required to have reviews with the endorsing body in the 12th-month and 24th month of the visa.
• If you progress and the endorsing body is satisfied, the visa can be extended for three-year periods without a cap.
• You may apply for indefinite leave to remain after three years of continuous business activity.

Application Process & Timelines

Applications are made online, with decision times as follows:

• Outside the UK: Within 3 weeks.
• Inside the UK (extension/switch): Within 8 weeks.
• Faster processing may be available at an extra cost.

Costs & Fees

• Visa application: £1,274 (outside the UK) / £1,590 (inside the UK).
• Endorsement fee: £1,000 (paid to the endorsing body).
• Progress checks: £500 each (two required).
• Immigration healthcare surcharge also applies, providing access to the NHS.

Rights & Restrictions

Visa holders will be able to:

• Establish and operate one or more types of businesses.
• Serve as directors or self-employed partners.
• Undertake an occupation at Level 3 or above (A-Level equivalent).

They cannot:

• Claim public funds.
• Work as professional sportspersons or coaches.

Dependents (partners and children) are eligible to join applicants in the UK. Wondering what this visa can bring to the table for Open-Minded Global Entrepreneurs willing to explore the UK entrepreneurship scene? Well, it can offer structured and promising possibilities. The Innovator Founder visa is not just about the UK’s location as a business immigration hotspot for innovation-driven companies but also the strict eligibility rules, well-defined settlement pathways, and the flexibility to carry out one’s business in different activities have a part in it. For personalized guidance and assistance with your application, consider consulting an immigration expert specializing in UK business visas.