What is Innovator Founder Visa?
The UK Innovator Visa was created in April 2019, replacing the Tier 1 Entrepreneur Visa. Then, in 2023 the Innovator visa was replaced by the Innovator Founder visa. The Innovator Founder Visa route is designed for experienced businesspeople who seek to start a business in the UK. The route eliminates the £50,000 minimum investment, but you’ll still need funds to launch and live in the UK. Innovator Founders can now take on extra work or studies (at least A-level level) that won’t hinder their business.
The Innovator Founder Visa lasts for three years and can be extended for a further three years. In some cases, Innovator Founder Visa holders will be eligible to apply for Indefinite Leave to Remain status after just three years of lawful residency in the UK.
UK Innovator Founder Visa Eligibility
Anyone who wishes to start a business in the UK under an Innovator Founder Visa will need to meet certain requirements.
To be eligible for the Innovator Founder Visa, you must:
- Be from outside the EEA and Switzerland
- Be at least 18-years-old
- Have a business idea which has been endorsed by an approved body. (The endorsement must not have been withdrawn prior to the Home Office’s consideration of the application)
- Meet the English language requirement
- Meet certain personal financial requirements
Multiple applicants can apply for endorsement to be co-directors of the same company.
What is the Difference Between an Innovator Founder Visa and a Start Up Visa?
The Start Up Visa is another type of visa for entrepreneurs. However, this visa is for less experienced entrepreneurs who are classed as high potential.
It must be noted that the Start-Up visa is not accepting any new applications going forward.
| Start Up Visa | Innovator Founder Visa |
| Applicants do not need funds to invest in their business | Applicants no longer need at least £50,000 to invest in their business |
| Must not have previously set up a business in the UK ` | Eligible if set up business in the UK in the past |
| Successful applicants can stay in the UK for two years | Successful applicants can stay in the UK for three years |
| Can bring family members | Can bring family members |
| Can take on work outside of their business to support themselves | Can now undertake work or study outside of business ventures |
| Visa cannot be extended | Visa can be extended |
What are the Innovator Founder Visa Requirements?
As alluded to above, there are a number of requirements which an Innovator Founder Visa applicant will need to fulfil in order for their application to be accepted.
Business Proposal
Your business proposal will need to meet the following requirements:
Innovation. The applicant must be able to demonstrate that they have a genuine and original business plan which meets a new or existing market need, and will provide benefit to the British economy and workforce. (An applicant cannot join or invest in a business which is already trading)
Viability. The applicant needs to prove they have the necessary skills, knowledge and market awareness to successfully run the business
Scalability. The applicant will need to show that there is potential for job creation and growth
Innovator Founder Visa Endorsing Bodies
One of the key Innovator Founder Visa requirements is to have your business idea approved by an endorsing body. Before you start your Innovator Founder Visa application, you must have an endorsement letter from an approved endorsement body.
Endorsement bodies review the applicant’s business proposal and determine whether it meets the three key business proposal requirements, as mentioned above.
If the endorsement body approves the business proposal, an endorsement letter will be written and sent to the Home Office, with detailed information about the applicant and their business proposal.
Endorsing bodies must be able to demonstrate a proven track record of supporting UK entrepreneurs (unless a new organisation is set up by another body which has its own proven track record).
The endorsing body must explain in the letter whether they are providing the investment funds, or whether the applicant has the investment funds available to them and is ready to invest in the business (or has already done so).
What are the Financial Requirements?
As well as the requirements for investment funds, applicants must also have at least £1,191 if applying from outside the UK and £1,486 if applying to extend or switch from within the UK for 90 consecutive days before they apply for the Innovator Founder Visa.
You cannot prove this requirement through your investment funds, or through money earned through illegal employment in the UK.
Applicants must pay the annual healthcare surcharge fee of £1,035, as well as any endorsement fees (£1,000 +VAT) and review meeting fees (£500 per meeting) with an endorsing body.
Additional costs may be for the English language test, TB testing if required, and biometric enrolment fees.
What is the English Language Requirement?
Any Innovator Founder Visa applicant will need to prove they meet a B2 level of English as set out by the Common European Framework of References for Languages (CEFR). Bear in mind that citizens of most native English-speaking countries will be exempt from this requirement.
You will not need to fulfil any English language requirements if you:
Hold a degree or higher qualification taught in English which is recognised by the UK NARIC
Already hold a CEFR B2 level certificate in reading, writing, speaking and listening
Also, citizens of the following countries will not need to fulfil this requirement:
Antigua and Barbuda
Australia
the Bahamas
Barbados
Belize
Canada
Dominica
Grenada
Guyana
Jamaica
New Zealand
St Kitts and Nevis
St Lucia
St Vincent and the Grenadines
Trinidad and Tobago
USA
All other Innovator Founder Visa applicants will need to pass a B2 English language test in reading, writing, speaking and listening from an approved test provider to be eligible for the Innovator Founder Visa.
Can I Switch to the Innovator Founder Visa from Another UK Visa?
Yes, it is possible to switch to the Innovator Founder Visa from another UK visa.
You will need to receive endorsement from an approved body to be eligible to switch to the Innovator Founder Visa, just as you would with a standard Innovator Founder Visa application.
If you meet the eligibility requirements and you’re already in the UK, you could switch from one of the following visas:
- Tier 1 Graduate Entrepreneur Visa
- Tier 1 Entrepreneur Visa
- Skilled Worker Visa
- Visitor Visa, (if applicant came to the UK to get funding with a supporting letter from an endorsement body)
Additionally, if you plan to switch to this visa from a Student visa, one of the following must apply to you:
- The start date of your job is after the completion date of your course
- You’ve been studying for a PhD for at least 24 months
As long as you applied for the Innovator Founder Visa before your current visa expired, you will be able to stay in the UK until a decision has been reached.
Can my Family Join Me in the UK Under an Innovator Founder Visa?
Certain family members can join you when you travel to the UK on an Innovator Founder Visa. Your family members will be classed as dependants of you.
The following people will be classed as dependants:
- A partner
- A child under 18
- A child over 18 if currently in UK as a dependant
Your dependants will need to pay the biometric enrolment fees as well as the yearly healthcare surcharge.
It is also possible for a person living in the UK to switch their visa to stay with you as a dependant. In these circumstances, the dependant must apply as a dependant partner or a dependant child.
Which Documents do I need to Include in an Innovator Founder Visa Application?
The specific documents which need to be included in the Innovator Founder Visa application depends on your particular circumstances.
Still, the following documents will always need to be included in your portfolio of evidence:
Current passport or other valid travel identification
Proof of B2 English language test pass (if applicable)
Bank statements showing that you have at least £945 in savings in your bank account for 90 consecutive days before you apply
Evidence of your investment funds
Your tuberculosis test results if you’re from a country where the test has to be taken
Any documents which are not in English or Welsh must be translated by an accredited translator.
It is imperative that you provide all necessary documents in your application, and that they adhere to the strict Home Office standards. Failure to do so will result in an automatic rejection.
Innovator Founder Visa UK Application Process
Once you have gathered all relevant documents together and have an endorsement from an approved body, you can complete the Innovator Founder Visa application form.
The earliest you can apply for the Innovator Founder Visa is 3 months before you intend to travel to the UK.
How Long Does it Take to Process an Innovator Founder Visa?
If you are applying for the Innovator Founder Visa from outside of the UK, you can expect to receive a decision from the Home Office within three weeks. Applications made from inside the UK can take up to eight weeks. Also, dependant applications will be processed within eight weeks.
The application could take longer to process if the Home Office has any concerns about your application. For instance, you could be asked to have certain supporting documents verified.
Do I Need to Provide Biometric Information?
Yes, with an Innovator Founder Visa application, you will need to provide your fingerprints and a photo.
After you have made your application, you will be prompted to make an appointment at a UK Visa and Citizenship Application Services point to provide the photo and your fingerprints.
How Much is the Innovator Founder Visa Application?
The cost of a UK Innovator Founder Visa depends on where you apply from and your specific situation.
| Who | Standard Application | Extend or Switch |
| You | £1,191 | £1,486 |
| Your partner and children | £1,191 per person | £1,486 per person |
How Long Can I Stay in the UK Under an Innovator Founder Visa?
If your application is approved, you can stay in the UK for three years.
At the end of the three years you will be able to extend your visa if you still meet the eligibility requirements and are still running a business in the UK, or want to start a new one.
If your business has already been endorsed in your original Innovator Founder Visa application, you do not need to have £50,000 in investment funds to renew your Innovator Founder Visa.
Also, you will need to include any dependants who are on your current Innovator visa in the Innovator Founder Visa extension application.
