Innovator Founder Visa UK: Requirements, Costs and ILR Guide

Innovator Founder visa requirements

Endorsement Requirement

As part of the process for applying for an Innovator Founder visa, a business or business idea must be assessed and approved by a UKVI-approved endorsing body.

For new applicants, the endorsing bodies are:

• UK Endorsing Services
• Innovator International
• Envestors Limited
• The Global Entrepreneurs Programme (GEP)

The requirements for each endorsing body vary, so it is important to review their criteria to determine which is most suitable for your application. . If you are successful in obtaining endorsement, you will need to attend two meetings with their contact during validity of your grant of leave. There is a fee per meeting which has been listed in the costs section.

Business Requirement

The plan you have for your business must also meet certain requirements. The business requirements differ depending on whether you are applying as a new business or extending your visa for an existing business.

New Business Applications

New Businesses must:

1. Provide a business plan
2. Demonstrate that the business is innovative, viable and scalable

The business plan must demonstrate:

• That the applicant has made a significant contribution to the ideas in the business plan
• That the applicant will have a day-to-day role in carrying out the business plan
• That there will be at least 2 contact point meetings between the applicant and the endorsing body
• That the applicant is either the sole founder or an instrumental member of the founding team

To be classed as scalable, the planned business must meet all of the following:

• Be a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage
• Be realistic and achievable based on the applicant’s available resources
• The applicant is actively developing or has the necessary skills, knowledge, experience and market awareness to successfully run the business.
• Demonstrate evidence of structured planning and the potential for job creation and growth into national and international markets
  

Existing Business Applications (Extensions)

For extensions, the business must:

• Have been previously endorsed
• Be active, trading and sustainable, demonstrating significant achievements against the original business plan
• Involve the visa applicant in day-to-day management and development of the business

Other Mandatory Requirements

To be eligible to apply for an Innovator Founder visa, the main applicant must be at least 18 years old.

Additionally, if switching from a Student visa, proof of course completion must also be supplied.

All applicants must also:

• Meet the English language requirement at B2 level or above
• Meet the financial evidence requirement

If you are extending your visa and have previously met the English language requirement, you will not need to provide evidence of this again.

Financial Requirement

If you have been in the UK for the past 12 months, you will not need to provide financial evidence. Otherwise, the following will need to be shown for a minimum of a 28 day consecutive period:

• £1,270 for the main applicant
• £285 for a dependant partner
• £315 for the first child
• £200 for each additional child

Innovator Founder visa costs

Innovator Founder visa fees include:

• Endorsement from approved body: £1,000 per person
• Meeting with endorsing body representative: £500 per meeting, 2 are mandatory
• Application fee:
  • £1,274 per applicant (outside the UK)
  • £1,590 per applicant (inside the UK)
• Immigration Health Surcharge:
  • £1,035 per year per adult
  • £776 per year per child
• Priority processing (optional): £500 per applicant

What you can do on an Innovator Founder visa

Innovator Founder visa holders may:

• Establish and run one or more businesses
• Work for the business as a director, be self-employed or operate as a member of a partnership
• Take supplementary employment, provided it is within a Standard Occupational Code (SOC) permitting Skilled Workers

Settlement under the Innovator Founder visa

The Innovator Founder visa offers a route to Indefinite Leave to Remain (ILR) after three years.

To qualify, you must:

• Ensure that you have had no absences from the UK that exceed 180 days in any consecutive 12-month period
• Provide an endorsement letter from your endorsing body confirming:
  • that you have shown significant achievements, judged against the business plan assessed in your previous endorsement
  • that your business is registered with Companies House and you are listed as a director or member of that business
  • that your business is active and trading
  • that 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
  • evidence that you have an active key role in the day-to-day management and development of the business
  • evidence that shows business growth in at least 2 of UKVI’s specific criteria

This is in addition to the standard requirements for settlement, such as successfully passing the Knowledge of Life in the UK Test.

If you are not eligible or do not wish to apply for settlement at the end of your initial grant of leave, you may be eligible to pursue an extension application. This extension can be valid for a maximum period of 3 years. There is no limit on the number of times you may extend your Innovator Founder leave.

Frequently Asked Questions

What is the Innovator Founder visa?

The Innovator Founder visa is a UK visa route that allows entrepreneurs to establish and run an innovative, viable and scalable business in the UK, with the potential to qualify for settlement after three years.

What are the requirements for an Innovator Founder visa?

Applicants must obtain endorsement from an approved endorsing body, demonstrate that their business is innovative, viable and scalable, meet the English language requirement at B2 level, and satisfy financial requirements where applicable.

How do I get endorsement for an Innovator Founder visa?

Endorsement is obtained by applying to a UKVI-approved endorsing body, which will assess your business idea or existing business. Each endorsing body has its own criteria and application process.

How long is the Innovator Founder visa valid?

The Innovator Founder visa is granted for three years and can be extended in further three-year periods.

How much does an Innovator Founder visa cost?

Costs include endorsement fees, application fees, Immigration Health Surcharge and optional priority processing. Fees vary depending on whether the application is made inside or outside the UK.

Can I apply for ILR after three years on an Innovator Founder visa?

Yes, applicants may qualify for Indefinite Leave to Remain after three years if they meet the endorsement criteria, demonstrate business growth and satisfy residence requirements.

Do I need a minimum investment for the Innovator Founder visa?

There is no fixed minimum investment requirement. However, applicants must demonstrate that their business is viable, scalable and financially credible.

Can I work outside my business on an Innovator Founder visa?

Supplementary employment is permitted if the role falls within an eligible Standard Occupational Classification code permitted for Skilled Workers.