Innovator Founder Visa UK
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A quick look
The visa allows you to stay for three years. This is applicable if you come to the UK on an Innovator Founder Visa or you switch to this visa while in the UK.
You can extend this visa for a further three years when it is close to expiry.
Yes, you can switch to the Innovator Founder Visa if you are already in the UK on another visa. Your existing visa must allow switching to other visas.
Any dependants will need to apply separately to switch their visa.
You are allowed to:
- Set up a business or businesses
- Work for your business – this includes being employed as a director, or self-employed as a member of a business partnership
- Do work outside your business; the job must be on the Skilled Worker occupations list or need a level 3 qualification
- Bring your partner and/or children with you, if eligible
- Travel abroad and return to the UK
- Apply for permanent settlement in the UK – Indefinite Leave to Remain
You are not allowed to:
- Work as a professional sportsperson or coach
- Apply for most public funds/benefits, including the State Pension
Innovator Founder Visa UK
The Innovator Founder Visa is for experienced business-people who intend to set up or run a business in the UK. It must be unique, independent, and meet all of the requirements.
The requirements that your business idea should meet are:
- You must be able to show that your business idea is new. You are unable to join a business that is already trading
- Your business idea must also be innovative (an original business idea which is different from anything else on the market) and also be viable with the potential for growth
- You must also be able to speak, read, write and understand English to a good standard
- Your business must be endorsed by an authorised body; you can find endorsing bodies on the Government’s website
How long can you stay?
You can stay for 3 years if you either come to the UK on an Innovator Founder Visa or you switch to this visa from another visa while in the UK.
You can apply to extend your stay for another 3 years when your visa is due to expire. There is no limit on the number of times you can extend and you may be able to apply for settlement once you have been in the UK for 3 years.
After 12 months, you will need to meet with your endorsing body, who will check that your business is making progress. This will happen again 24 months into your visa.
If your endorsement is removed, then your visa will end early.
How much does an Innovator Founder Visa cost?
The costs of the Innovator Founder Visa are dependent on your specific circumstances.
If you are applying from outside of the UK, then the visa will cost £1191 per person. This means that if you are bringing dependants, then you will need to pay the same amount for them.
If you are applying from inside of the UK, then it will cost £1486 per person. This fee also applies if you are switching to the Innovator Founder Visa from another visa.
Ready for assistance?
If you have any questions about the changes or want legal advice, contact
Woodcock Law & Notary Public today. Contact us by phone on 0330 133 6490 or
by email at email@example.com.