UK Innovator Founder Visa: Guide for Entrepreneurs
Introduction
The UK Innovator Founder Visa is tailored for start-up entrepreneurs and seasoned business people aiming to establish a new business venture in the UK. Unlike other business visas, there's no specified minimum investment amount. However, applicants must present an innovative, viable, and scalable business idea, backed by a solid business plan and endorsed by an approved body.
Application Decision Timeline
Outside the UK
Decisions are generally made within 3 weeks.
Inside the UK
Expect a decision within 8 weeks.
Expedited Processing
For those requiring an appointment, faster decision options are available, varying by application location.
Application Fees
Outside the UK
The government fee is £1,191 per applicant.
Inside the UK (Extension/Switch)
The cost rises to £1,486 per person.
Healthcare Surcharge
- All applicants must pay this surcharge as part of their application, with amounts varying based on duration and application type.
Biometric Information (For Extensions/Switches in the UK)
- Applicants must provide fingerprints and a photograph at no additional cost.
Privileges and Limitations
Privileges
- Establish one or more businesses.
- Work in your business, including roles as a director or as a self-employed individual in a partnership.
- Undertake skilled work outside your business venture.
- Bring eligible dependents (partner and children) to the UK.
- International travel with re-entry to the UK.
- Eligibility for indefinite leave to remain after 3 years, subject to meeting other criteria.
Limitations
- Cannot work as a professional sportsperson, including coaching roles.
- Ineligible for most public funds and the State Pension.
Next Steps
1. Idea and Endorsement
Ensure your business idea is innovative, viable, scalable, and endorsed by an authorized body.
2. Prepare Documentation
Gather all required documents, including your business plan and endorsement letter.
3. Apply
We will complete the application process: you need to include paying fees and submitting biometric information if applicable.
Conclusion
The UK Innovator Founder Visa offers a unique opportunity for entrepreneurs to bring fresh, scalable business ideas to the UK market. By understanding the application requirements, costs, and what you can (and cannot) do under this visa, entrepreneurs can strategically plan their move to the UK, setting the stage for business success and potential permanent residency.