United Kingdom Innovator Founder Visa
The UK Innovator Founder Visa is a residency-by-investment program designed for experienced businesspeople with a viable innovative business idea who wish to establish their business in the UK. Applicants may wish to apply for permanent residency after 3 years. And further after 1 year apply for citizenship after meeting certain requirements.
United Kingdom Innovator Founder Visa Benefits
Residency and Family Inclusion
- Permanent residents have the freedom to live and work in the UK without any restriction.
Dependents included:
- Spouse;
- children under 18;
- children over 18 currently in the UK as a dependent.
Travel and Quality of Life
- One of the highest standards of living in the world and is a member of the G-7 group of countries.
- A high standard education and healthcare system.
- Access to business opportunities throughout Europe.
Ease of Access
- Eligible to apply for Indefinite Leave to Remain (ILR) to become UK permanent residents after 3 years.
- Pathway to apply for Citizenship after 5 years.
United Kingdom Innovator Founder Visa Requirements
- Applicants must be at least 18 years old.
- Have the business idea endorsed by an approved endorsing body no more than 3 months prior to the Visa Application.
- Must be competent in the English Language to at least CEFR Level B2 (IELTS Score of 5.5-6.0) in all Categories.
- Must have Sufficient funds to support themselves and any qualifying dependents;
- The Application does not fall for refusal on general grounds for refusal.
United Kingdom Residency by Investment Options
Investment and Endorsement Criteria
- The applicant must invest at least GBP 50,000 (Approx. USD 66,000) into business and obtain an endorsement from an approved body.
- The applicant may establish their own business or they can work with a Joint Venture partner in the UK to establish a qualifying business.
- Joint Venture Business investments with a local UK partner are typically in the region of GBP 200,000 – GBP 250,000 (Approx. USD 264,000 – USD 330,000).
- To obtain an endorsement from an approved body, the applicant must provide a business plan and supporting documents showing that the business is:
- Innovative.
- Viable.
- Scalable.
- Can be sustained.
United Kingdom Innovator Founder Visa Process
Processing time To be announced Months
Due Diligence And Application
- Must develop a viable business plan and have the business plan endorsed by an endorsing body approved by the UK Government.
- Following endorsement, the application must be made to a UK Embassy or Consulate nearest to where the applicant resides.
Approval And Investment
- Upon successful application, an initial 3-year visa will be issued to enable the applicant to move to the UK to commence the business.
- Progress must be reviewed by the endorsing body at the 6, 12- and 24-month marks.
Residency
- The visa can be extended for a further 3 years providing that the business is still running and validated by an approved body.
- Applicants may apply for Indefinite Leave to Remain (ILR) after 3 years subject to meeting minimum business performance requirements.
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Frequently Asked Questions
What is the UK Innovator Founder Visa?
The UK Innovator Founder Visa is designed for experienced entrepreneurs with innovative business ideas, allowing them to establish and reside in the UK.
Who is eligible for the UK Innovator Founder Visa?
Eligibility for the UK Innovator Founder Visa includes possessing an innovative business idea, endorsement by an authorized entity, a £50,000 investment, self-sufficiency in funds, English proficiency, a clean criminal record, and a clear tuberculosis test.
What is the validity period of the UK Innovator Visa?
The UK Innovator Visa is initially valid for 3 years, renewable for another 3 years, with potential eligibility for permanent residence after 3 years based on advanced business performance.
What are the residency requirements for the UK Innovator Visa?
Applicants must spend at least 270 days per year in the UK to meet the residency requirements of the UK Innovator Visa.
What are the renewal requirements for the UK Innovator Visa?
Renewal of the UK Innovator Visa requires ongoing endorsement by an authorized body and meeting minimum business performance criteria.
Are UK Innovator Visa holders allowed to work or study in the UK?
UK Innovator Visa holders are restricted to working only for the business specified in their visa application.
Can UK Innovator Visa holders work in other EU countries automatically?
The UK Innovator Visa does not permit holders to work or reside in other EU countries.
Can the spouse and minor children of the applicant benefit from the UK Innovator Visa?
Spouses and dependent children under 18 of UK Innovator Visa holders can also benefit from the visa, and are permitted to work or study in the UK.
What is the minimum investment required for the UK Innovator Visa?
A minimum investment of £50,000 from any legitimate source is required for the UK Innovator Visa.
How long must the investment be maintained in the UK?
The investment must be maintained until permanent residence is granted to keep the UK Innovator Visa valid.
Is the applicant permitted to make additional investments in the UK after the initial qualifying investment?
Additional investments or acquisitions in the UK are permitted for UK Innovator Visa holders.
Can the applicant sell the investment made under the UK Innovator Visa?
Withdrawal of the investment results in loss of residency rights unless permanent residence has been granted.
When can holders of the UK Innovator Founder Visa apply for permanent residence in the UK?
Permanent residence is applicable after 3 years if the business is highly successful, or after 5 years under standard performance evaluations.
When are UK Innovator Visa holders eligible to apply for citizenship?
Investments can be made directly or through a company in which the applicant owns at least 30% of shares.
Does the UK recognize dual citizenship?
The UK permits dual or multiple citizenships without restrictions.
What does indefinite leave to remain mean?
Indefinite Leave to Remain (ILR) is an immigration status in the United Kingdom that allows a person to live and work in the UK without any time restrictions.
What is the UK Innovator visa success rate?
Based on official UK government data, the success rate for Innovator Founder visas in 2021, 82% of applications were successful, with 322 visas granted.