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What is the Innovator Founder Visa?

Tatiana Tsutsor

Updated: Nov 19, 2024

The Innovator Founder visa is a unique option for entrepreneurs with unconventional business ideas who wish to establish their ventures in the UK.


There is no specific investment amount required, however the business must demonstrate potential for growth. Successful applicants are granted a three-year visa and can bring their immediate family members to the UK.


Beyond having an innovative idea, applicants must present a detailed business plan that demonstrates the viability of their idea. This business plan must be endorsed by a UK government-approved endorsing body.

 

Stages in the Innovator Founder Visa Process and Associated Costs


The Innovator Founder Visa is designed for entrepreneurs with exceptional business ideas who wish to enter the UK market. The process for this visa differs from the self-sponsorship route and involves the following key steps:


The first step is to develop a comprehensive business plan that outlines the strategy and approach for the innovative business idea. The plan must demonstrate that the business is not only original but also viable and scalable, meeting the criteria for innovation and potential growth.


To apply for the Innovator Founder Visa, the business plan must be endorsed by a UK government-appointed endorsing body. The endorsement assesses the business’s fit within the UK market, its potential for profitability, sustainability, and long-term growth prospects. It is recommended to have a look at the requirements set by endorsing bodies before whilst considering applying for this visa: https://www.gov.uk/government/publications/endorsing-bodies-innovator-founder-and-scale-up-visas/innovator-founder-and-scale-up-visas-endorsing-bodies


Under the updated process, founders must pay endorsement fees. This includes £1,000 for the initial endorsement review and £500 for each checkpoint assessment at the 12 and 24-month marks.


After receiving the endorsement, the entrepreneur can proceed with their Innovator Founder Visa application to the Home Office. The visa application fee ranges from £1,191 to £1,486 and will depend on whether the application is made from within or outside the UK.


There is no set minimum investment requirement for this visa, but the business must have sufficient funds to cover its operations and meet its financial needs. Applicants must show they can satisfy the English language requirement. This can be done by proving English proficiency at the B2 level of the CEFR through a language test, having a degree taught in English, or being a citizen of a majority English-speaking country.


Applicants must also demonstrate financial stability by showing they have held at least £1,270 in their bank account for 28 consecutive days before submitting the application, ensuring they have sufficient funds to support themselves in the UK.


The Innovator Founder Visa is designed for individuals with a groundbreaking business idea who wish to develop and grow their business in the UK. A unique and feasible idea with strong potential for future growth is a must have for this type of visa.


If you consider applying for Innovator Founder Visa, we will be happy to guide you through the process:


Our contact:


Phone/ WhatsApp: +44 7523 281911, Tatiana




Innovator Founder Visa Meeting

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