Innovator Founder Visa 

The Innovator founder visa was from Innovator visa which had replaced Tier 1 Entrepreneur visa. Tier 1 Entrepreneur visa has closed for initial application since 29th March 2019, unless the applicant is on Graduate entrepreneur or start up visa.

Innovator Founder visa is for an experienced business person who has an innovative, viable and scalable business idea, wish to establish a business in the UK, but their business idea has to be approved an approved endorsing body by Home Office, the applicant has to show their business idea is new,  different from anything else on the market. It also has to be viable, with potential for growth and the applicant can give evidence of planning that includes creating jobs and growing into national and international markets

Innovator Founder visa is initially granted for 3 years and can be extended or directly apply for indefinite leave to remain in the UK before the visa expiry date.

The requirements to apply for Innovator Founder visa

• be at least 18 years old
• endorsed by an approved endorsing body
• meet the English language requirement least CEFR Level B2 (equivalent to IELTS 5.5 in reading, writing, listening and speaking) or have a degree taught in English confirmed by ECCTIS  if it is not obtained from the UK,
• be able to prove that you have enough personal savings to support yourself while you’re in the UK. it means that you have £1270 in your bank for consecutive 28 days for you and 285 for your partner, £315 for one child, £200 for each additional child.
• your tuberculosis test results if you’re from a country where you have to take the test unless you are applying from the UK. 

The requirement to apply for Indefinite Leave to Remain via Innovator visa

The endorsement letter must confirm both of the following: 

1)

• The applicant has shown significant achievements, judged against the business plan assessed in their previous endorsement.
• The applicant’s business is registered with Companies House and the applicant is listed as   a director or member of that business.
• The business is active and trading.
• The business appears to be sustainable for at least the following 12 months, based on its assets and expected income, weighed against its current and planned expenses.
• The applicant has demonstrated an active key role in the day-to-day management and development of the business.
  

2) The applicant’s business venture meets at least two of the following requirements:

• At least £50,000 has been invested into the business and actively spent furthering the business plan assessed in the applicant’s previous endorsement.
• The number of the business’s customers has at least doubled within the most recent 3 years and is currently higher than the mean number of customers for other UK businesses offering comparable main products or services.
• The business has engaged in significant research and development activity and has applied for intellectual property protection in the UK.
• The business has generated a minimum annual gross revenue of £1 million in the last full year covered by its accounts.
• The business is generating a minimum annual gross revenue of £500,000 in the last full year   covered by its accounts, with at least £100,000 from exporting overseas.
• The business has created the equivalent of at least 10 full-time jobs for resident workers.
• The business has created the equivalent of at least 5 full-time jobs for resident workers, which have a mean salary of at least £25,000 a year (gross pay, excluding any expenses).   The jobs must have existed for at least 12 months and comply with all relevant UK legislation including (but not limited to) the National Minimum Wage Regulations in effect at the time and the Working Time Regulations 1998. Each of the jobs must involve an average of at  least 30 hours of paid work per week. Two or more-part time jobs that add up to 30 hours per week may be combined to represent the equivalent of a single full time job, as long as each of the jobs has existed for at least 12 months. However, a single full- time  job of more than 30 hours of work per week does not count as more than one full- time job.
  

How can we help with your Innovator visa

Our immigration specialists have more than 10 years experience in dealing with all  type of visa application including Innovator visa, have helped hundreds of applicants successfully apply for their visa from initial consultation through documents review, submission of application till successful grant of the visa. We will represent you and ensure the smooth successful granting of your visa. 

Innovator visa application can be complicated depending on your personal circumstance, you may require professional advice to ensure the success of your application.

Book a consultation now at 0207 193 1996 or send us a free enquiry ! 

Q & A for Innovator Founder visa

How can I apply for an Innovator Founder visa?

You can apply if you want to set up and run an innovative business in the UK - it must be something that’s different from anything else on the market and your business or business idea has been endorsed by an approved body, also known as an endorsing body and you meet the other eligibility requirements.

What is required for my business?
Your business needs to be

• new - you cannot join a business that is already trading
• innovative - an original business idea which is different from anything else on the market
• viable, with potential for growth (scalable)
• Scalable - you must give evidence of planning that includes creating jobs and growing into national and international markets

How long can I stay with Innovator Founder visa?
You can stay for 3 years. If you want to stay longer you can apply to extend your stay for another 3 years when your visa is due to expire. No limit on the number of times you can extend.

How much I need to pay for the visa?
If you are applying outside the UK, the fee is £1274.

If you are extending or switch the visa in the UK, the fee is £1590.

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

Is there any financial requirement?

You don't need to show you have the investment amount when you apply for the Innovator founder visa. but you need to be able to  prove that you have enough personal savings to support yourself while you’re in the UK

If your business is already established and has been endorsed for an earlier visa or you’ve changed your business and already agreed it with your endorsing body.

Can I share the investment funds with my team members?

If you have a team with other Innovator applicants, you cannot share the same investment funds. Each team member must have £50000 individually.

Is there any English language requirement?

You need to prove your knowledge of English when you apply. You must have at least B2 level of English language ability.

What documents do I need to apply?

• An endorsement letter to show that an endorsing body has assessed your business or business idea, dated no more than 3 months before the date of the application
• a valid passport or other document that shows your identity and nationality
• bank statements showing you’ve had at least £1,270 in savings in your bank account for 28 consecutive days before you apply
• proof that you meet the English language requirement
• evidence of your investment funds (if you’re setting up a new business)
• your tuberculosis test results if you’re from a country where you have to take the test

Can I apply for settlement with Innovator Founder Visa?
Yes, you can if you have continuously resided in the UK for at least 3 years immediately prior to application and meet the requirements.

I have a business previously assessed by an endorsing body. Can I apply for this visa?

Yes, you may qualify for the ‘same business’ requirements.

I am not the sole founder of my business. Can I apply?

Yes you can still apply. Applicants do not need to be the sole founders of their businesses. Whilst multiple innovators in the same company can receive endorsements, each applicant must have been endorsed in their own right.

Where there are co-directors in a company who are both applying for initial permission on the basis of endorsements issued in the

I am only an investor in the company running a new business. Can I apply?
No, your application will be refused if you are only investing in a company. You need to be responsible for the business plan and actively involved in implementing it.

What is required for my business to be ‘innovative, viable and scalable’?
Your proposed business needs to meet a market need or create a competitive advantage.

What can I do if my application is refused?

You can challenge the decision by requesting an administrative review within 28 days if you make the application outside of the UK or 14 days if you make an application in the UK receiving the refusal letter.