If you want to apply for an Innovator visa, you must show that your business idea is unique, viable, and capable of rapid expansion.
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The Innovator Founder visa is a consolidated immigration path that will replace both the Innovator visa and the Start-up route on April 13, 2023. This plan is intended for start-up entrepreneurs and experienced businesspeople from other countries who want to develop an innovative firm in the UK.
The UK government has revealed a new Innovator Founder Visa pathway to replace the current Innovator Visa and Start-Up Visa schemes. Since the new system is scheduled to go into effect on April 13, 2023, it is crucial that you, as a lawyer, stay abreast of any developments leading up to that date. Changes to eligibility, endorsing bodies, investment requirements, contact points, and secondary employment rules are just some topics that will be covered in this article as they relate to the new Innovator Founder visa path.
Business proposals following the Innovator Founder model must still demonstrate innovation, viability, and scalability;
However, the new route does offer some welcome changes. Unlike the previous scheme, the new way does not require a minimum investment of £50,000. This change provides greater flexibility for entrepreneurs, especially those who do not require a significant capital investment to start their business. However, suppose your business idea requires considerable cash injection. In that case, the new endorsing bodies may still want you to demonstrate that you have the necessary funds to start your business in the UK, usually for at least the next 12 months.
The previous endorsing bodies were required to stay in contact with Innovator applicants at 6, 12, and 24-month checkpoints. The new rules now only require a minimum of two contact points, providing greater flexibility regarding when new applicants should meet with their endorsing body. This change helps ease the pressure for some entrepreneur innovators to develop their businesses under less rigid timescales.
Previously, Innovators could only work for the company they founded in the United Kingdom. However, under the new programme, Innovator Founders can take on secondary work if the role requires a skill level equivalent to RQF level 3, equivalent to A-levels or high school leavers. This adjustment represents the reality for genuine entrepreneurs who are multidimensional, and it also assists them to earn and maintain their living in the UK until their firm has progressed to the point when the applicant no longer needs to make from their secondary occupation.
The new Innovator Founder visa route adds some intriguing new features to the existing Innovator visa scheme, making it easier for entrepreneurs to shop in the UK. By removing the £50,000 minimum investment threshold, applicants will have more freedom to invest only what is required to get their firm off the ground. In comparison, at least two contact points will allow applicants to meet with their endorsing body for their business development conveniently. Furthermore, the flexibility of innovation founders to work part-time will enable them to earn a living while their business is still in its early stages, which is a welcome shift.
New applicants must seek endorsement from one of three new endorsement bodies designated for the Innovator Founder path. In contrast, existing Innovator visa applicants must seek approval from a legacy endorsement body for the same business idea utilised in a previous application. Applicants must also complete the standards to demonstrate that their business concept is innovative, viable, and scalable.
General Innovator Founder Visa Requirements The endorsing body must confirm the following:
To be considered for an Innovator Founder Visa, applicants must meet several requirements as stipulated by UK Visas and Immigration:
Ⅰ. Applicants must be at least 18 years old.
Ⅱ. They must secure an endorsement letter from a recognised UK endorsing body, which confirms the following.
Ⅲ. The endorsement letter must be dated three months before the Innovator visa application submission date.
Ⅳ. Applicants must speak English at a minimum level B2 on the Common European Framework of Reference for Languages (CEFR) scale (equivalent to IELTS 5.5 in reading, writing, listening, and speaking).
Ⅴ. For applicants outside the UK or those residing in the UK for less than 12 months, they must demonstrate financial means of at least £1,270 for personal support, along with £285 for a dependent partner, £315 for the first child, and £200 for each subsequent child.
Ⅵ. The application should not be liable for refusal based on general exclusion criteria.
Having a business plan you either authored or significantly contributed to would be best. You must demonstrate an active daily role in project implementation and indicate that you will attend at least two check-in meetings with the endorsing body during your visa duration. Furthermore, your function must be that of the only founder of the company or a vital member of the founding team.
Your business idea must meet the following criteria:
English language proficiency is required for the Innovator Founder Visa application. Applicants must demonstrate English proficiency in all four areas: reading, writing, speaking, and listening. According to the Common European Framework of Reference for Languages, the needed language level is B2.
Various approved tests, such as IELTS, can be used to demonstrate English language ability, with applicants needing to score at least 5.5. Meeting this condition is critical because it guarantees that candidates can effectively interact and engage in business activities within the UK without encountering language hurdles, improving the likelihood of their organisation’s success.
English at a minimum level B2 on the Common European Framework of Reference for Languages (CEFR) scale (equivalent to IELTS 5.5 in reading, writing, listening, and speaking).
| If you are in the UK | If you are outside of the UK |
|---|---|
| IELTS SELT Consortium: IELTS for UKVI or IELTS Life Skills | IELTS SELT Consortium: IELTS for UKVI or IELTS Life Skills |
| LanguageCert: LanguageCert International ESOL SELT | LanguageCert: LanguageCert International ESOL SELT |
| Pearson: PTE Academic UKVI or PTE Home | Pearson: PTE Academic UKVI or PTE Home |
| Trinity College London: Secure English Language Tests for UKVI – Integrated Skills in English (ISE) or Graded Examinations in Spoken English (GESE) | PSI Services: Skills for English UKVI |
The application fee for the Innovator Founder Visa is presently set at £1,036 for those applying from outside the UK and £1,292 for those switching from within the country. You must also pay a £1,000 (excluding VAT) endorsement fee to the applicable endorsing body as an applicant. These payments do not include any legal costs incurred due to a law firm handling your application. For the term of your visa, you will also be required to pay the immigration healthcare premium (currently £624 per person per year).
To be eligible for the innovative founder visa, applicants must have at least 70 points, with at least 50 points coming from either the new or exact business requirement (but not both). The remaining 20 points will be awarded based on financial and English language proficiency. The applicant’s business plan will be evaluated to see if it meets the new business criteria, with a possible 30-point award. An extra 20 points may be awarded if the planned business endeavour is inventive, viable, and scalable.
The new Innovator Founder visa is a single immigration route that has replaced both the Innovator visa and Start-up visa from 13th April 2023. It is aimed at overseas candidates who wish to establish an innovative business in the UK.
The fundamental changes to the Innovator route include the removal of the £50,000 minimum investment requirement and relaxation of employment rules, allowing secondary employment as long as it is in a skilled role equivalent to at least RQF Level 3.
If you wish to apply under the Innovator Founder Visa route, your letters of endorsement must show that you are perceived as a fit and proper person to receive such an endorsement. Furthermore, the endorsing body must be convinced that there are no issues with or over the legitimacy of sources of funds that you will invest into the endorsed business and that there is no reason to believe that you, as the applicant or your approved business, have unexplained wealth.
Applicants must have at least £1,270 held for 28 consecutive days.
Innovator Founder Visa holders must regularly have at least two check-in meetings with their endorsing body during their stay. These meetings assess progress against the business plan. The endorsing body must be convinced that the visa holder is actively working on the business venture and has made reasonable progress with either the original or a new innovative, scalable, and viable business idea. Failing to attend a check-in meeting with the endorsing body may revoke the Innovator Founder Visa.
Indefinite leave to remain, also known as a permanent settlement, is a crucial benefit of the innovator founder route. After residing and working in the UK for three years, visa holders can apply for indefinite leave to remain, provided they meet the relevant requirements. Indefinite leave to remain allows individuals to stay in the UK without any time restrictions. It also opens up opportunities for them to apply for British citizenship after a set period. To qualify for indefinite leave to remain, innovator founder visa holders must demonstrate their business’s progress and ability to create jobs in the UK. They must also meet English language and Life in the UK test requirements. Securing indefinite leave to remain provides innovator founders with stability and enables them to continue growing their business in the UK without any immigration restrictions.
