UK Innovator Founder Visa

Written by Mike Arnold Moderated by Oleksandra Dosii

Mike Arnold

Mike is a freelance writer with eight years of experience and a love for travel, all things business, tabletop games and green tea.

Oleksandra Dosii

Oleksandra is a dedicated marketer with a passion for growing HR-tech products. She believes content marketing is about delivering high-quality content that provides value—not just generating leads. Since 2016, Oleksandra has been involved in tech talent relocation.

Last update: September 15, 2024

Next update: Scheduled for February 1, 2025

The Innovator Founder visa is designed for individuals who have an innovative, viable, and scalable business idea and have secured endorsement from an approved body. This visa is your gateway to establishing and growing a business in the UK, offering a pathway to settlement and a thriving career in the country.

If you have a groundbreaking business idea, a solid business plan, and the drive to succeed, the Innovator Founder visa can be your key to unlocking a world of opportunities for you and your business.

 

What are the eligibility criteria for the UK Innovator Founder Visa?

The Innovator Founder visa is designed to attract individuals with exceptional entrepreneurial talent and innovative business ideas. To be eligible for this visa, you must fulfil several key criteria:

Your business idea

• Innovation: Your business idea must be genuinely innovative, offering a product or service that’s different from anything else currently on the market. It should address a clear market need and demonstrate a unique approach or solution.
• Viability: Your business plan should be realistic and achievable and showcase a clear understanding of the target market, financial projections, and a sustainable business model. In short – it should demonstrate the potential for your business to succeed and grow in the UK.
• Scalability: Your business should have the potential to create jobs and expand into national and international markets, contributing to the UK's economic growth. This implies a clear strategy for scaling your operations and reaching a wider audience.
• Endorsement: Your business or business idea must be assessed and endorsed by an approved endorsing body. These bodies are organisations authorised by the Home Office to evaluate your proposal and confirm that it meets the innovation, viability, and scalability requirements.

You (the Applicant)

• Age: You must be at least 18 years old at the time of your application.
• English language skills: You must demonstrate proficiency in the English language by passing a Secure English Language Test (SELT) from an approved provider or by holding a degree-level academic qualification in English.
• Financial requirements: You must provide evidence of having at least £1,270 in your bank account for 28 consecutive days before applying to demonstrate your ability to support yourself financially in the UK without relying on public funds.

What are the application costs for the UK Innovator Founder Visa?

The cost of your Innovator Founder visa application hinges on whether you're applying from within or outside the UK:

• Outside the UK: If you're applying from your home country or another country outside the UK, the application fee is £1,191 per person.
• Inside the UK (extending or switching): If you're already in the UK and are either extending your current Innovator Founder visa or switching from a different visa category, the application fee is slightly higher at £1,486 per person.

Healthcare surcharge

In addition to the application fee, you'll also be required to pay the Immigration Health Surcharge (IHS) as part of your application.

As of 2024, the IHS is currently £1,035 per year for your visa, paid in advance. This means the total to pay will be £3,105.

Paying the IHS grants you access to the UK's National Health Service (NHS) during your stay, ensuring you have healthcare coverage while you're building your business in the UK.

How to apply for the UK Innovator Founder Visa?

Applying for the Innovator Founder visa involves a multi-step process that requires careful preparation and adherence to specific guidelines.

1. Get your business idea assessed

The first step is to secure endorsement from an approved endorsing body. These bodies are organisations authorised by the Home Office to evaluate your business or business idea and confirm its eligibility for the Innovator Founder visa.

• Research endorsing bodies: The Home Office maintains a list of approved endorsing bodies on its website. Carefully research these bodies to identify ones that align with your business sector and investment focus.
• Submit your proposal: Prepare a business plan and submit it to the chosen endorsing body for assessment. They’ll evaluate your proposal based on the eligibility criteria: innovation, viability, scalability, and growth potential.
• Receive endorsement letter: If your proposal is successful, the endorsing body will issue you an endorsement letter, which is a crucial document for your visa application.

2. Apply online

Once you’ve secured endorsement, you can proceed with the online application process.

• Complete the application form: Fill out the online Innovator Founder visa application form on the UK government website here. Provide accurate and complete information about yourself, your business idea, and your financial situation.
• Upload documents: Upload scanned copies of all the required documents, including your endorsement letter, passport, bank statements, proof of English language proficiency, and any other relevant documents specified in the application guidelines.
• Pay the application fee and healthcare surcharge: Pay the visa application fee and the Immigration Health Surcharge (IHS) online. The IHS gives you access to the UK's National Health Service (NHS) during your stay.

3. Prove your identity

As part of your application, you'll need to prove your identity and provide your documents.

• Biometric residence permit: If you're applying from outside the UK, you'll usually need to have your fingerprints and photograph taken at a visa application centre to get a Biometric Residence Permit (BRP).
• 'UK Immigration: ID Check' app: If you're eligible, you can use the 'UK Immigration: ID Check' app to scan your identity document and create or sign into your UK Visas and Immigration (UKVI) account.

4. Await your decision

That’s it! Now, you just have to wait for your response. Typically, this will take around three weeks if you’re outside the UK. If you’re in the UK, it can take up to eight weeks. You may be able to pay for priority or super-priority service to get a faster decision on your application, but you’ll be told if this is possible during the application process.

If you need to change something in your application after you've sent it, contact UK Visas and Immigration (UKVI). You can also request to cancel your application, but you'll only get a refund if UKVI hasn't started processing it yet.

You'll receive an email or a letter containing the decision on your application. This will explain what to do next.

Talk to a visa consultant

The UK Innovator Founder visa offers a fantastic opportunity for entrepreneurs to establish and grow their businesses in the UK.

However, navigating the complexities of the visa process, securing an endorsement from an approved body, and meeting all the eligibility criteria can be a challenge.

Don't let these hurdles prevent you from building your business in the UK. By partnering with an experienced immigration consultant, you can:

• Navigate the complexities: Receive expert guidance and support throughout the visa application process, ensuring you understand the requirements and submit a strong and compliant application.
• Secure endorsement: Gain valuable insights and assistance in preparing your business plan and presenting it to an endorsing body, increasing your chances of securing their crucial endorsement.
• Maximise your chances of success: Benefit from personalised strategies and advice tailored to your specific business idea and circumstances, enhancing your likelihood of visa approval.
• Focus on your business growth: Let professionals handle the administrative stresses, allowing you to dedicate time and energy to building your business and achieving your goals in the UK.

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