Investors and entrepreneurs who want to set up business and settle in the UK have an opportunity with the Innovator Founder Visa UK.
The UK Innovator Founder Visa is created for candidates with an innovative and scalable business idea who intend to develop and establish a business in the UK and are supported by an approved UK body.
The UK Innovator Founder Visa targets candidates who can create opportunities for skilled workers and contribute to the UK economy through entrepreneurship. As an UK Innovator Founder Visa holder, an applicant will be allowed to work for their established business and create additional employment.
This visa allows the candidates to stay in the UK with their family for up to 5 years and 4 months. After residing for five years in the country, candidates can apply for an ILR.
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The processing time for a Innovator Founder Visa UKapplication from within the UK is eight weeks.
Here is the detail of the processing fees for the Innovator Founder Visa UK:
| Application fee | £1,486 to apply for or extend the visa from within the UK |
| Endorsement fee | £1,000 to pay directly to the endorsing body |
Step 1: Find an endorsing body
Step 2: Filed out the online application form
Step 3: Sort out the requirements
Step 4: Submit the application
Step 5: Verify your identity
Step 6: Avail the visa
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To get an endorsement an applicant must submit their business plan with proper documentation to the UK government. The UK government will evaluate the business idea based on innovation, viability, and scalability criteria. They will approve a letter if they are satisfied with the business plan.
The UK Innovator Founder Visa is granted for 3 year. After staying in the country for three years an applicant can apply to extend their visa or apply for Indefinite Leave to Remain (ILR) if they meet the eligibility criteria.
Yes an applicant can bring their spouse or partner and children aged below 18 to the UK, provided they secure a dependant visa. The UK Innovator Founder Visa holder dependents can work or study in the UK.
The UK Innovator Founder Visa has no minimum investment requirement. Although, the applicant must demonstrate that they have sufficient funds to establish and grow your business in the UK.
UK Innovator Founder Visa takes around eight weeks from within the country. Although the entire preparation process may take longer because first you must have a business plan and get the idea approved, and then the visa is granted for three years which can be renewed for another three years and more.
