Innovator Founder Visa: Key Facts from GOV.UK

The business criteria

Your business idea must be endorsed by an approved endorsing body as:

• New: you cannot join a business that is already trading
• Innovative: an original idea, different from anything else on the market
• Viable, with potential for growth
• Scalable: with planning for job creation and growth into national and international markets

Personal requirements

You must also:

• Meet the English language requirement
• Be at least 18 years old
• Have held at least £1,270 in your bank account for 28 consecutive days, unless you have been in the UK for at least a year
• Not rely on your investment funds to meet the maintenance requirement

Fees

• £1,357 per person when applying from outside the UK
• £1,693 per person when extending or switching inside the UK
• £1,000 for the endorsement, paid to your endorsing body
• £500 for each checkpoint meeting with your endorsing body, paid to the body
• The healthcare surcharge, paid as part of your application

Checkpoints and length of stay

The visa lasts 3 years. You meet your endorsing body after 12 and 24 months to show progress, and your visa may be cut short if your endorsement is withdrawn. You can extend for another 3 years with a new endorsement, and may be able to apply for settlement after 3 years.

What you can do

With an Innovator Founder visa you can:

• Set up one or several businesses
• Work for your business as a director, or self-employed as a member of a business partnership
• Do work outside your business in a job needing at least a level 3 qualification
• Bring eligible partners and children as dependants
• You cannot apply for most public funds or work as a professional sportsperson