The benefits of the Innovator Founder visa for entrepreneurs

28 Jan 2025, 24 mins ago

The UK has long been one of the most attractive destinations for entrepreneurs from around the world, offering great opportunities to launch and scale business ideas. If you have an innovative business idea, you may be wondering whether the UK Innovator Founder visa is a good choice for you. In this blog, we will further explore the key aspects of the UK Innovator Founder visa and what benefits it can offer you.

The Innovator Founder visa was introduced as a refined version of its predecessor – the Innovator visa. It is designed for individuals with innovative, viable and scalable business ideas, meaning that:

  • your business idea is genuine, original and distinct from anything else on the market;
  • you have relevant knowledge and skills to implement your business idea;
  • your business idea has the potential to grow.

Why the Innovator Founder visa is a great choice for entrepreneurs

  • No minimum investment requirement
    Unlike previous visa options, the Innovator Founder visa does not impose a minimum investment requirement, making it accessible to entrepreneurs from diverse financial backgrounds.
  • Flexibility in running a business
    The Innovator Founder visa allows you to establish and run your business in the UK without restrictions.
  • Right to work outside your business
    Unlike its predecessor, this visa will allow you to take on secondary employment in skilled roles. This flexibility can provide you with additional financial security during the early stages of your entrepreneurial journey.
  • Accelerated path to permanent residency
    The Innovator Founder visa provides a clear pathway to Indefinite Leave to Remain (ILR) after just three years, allowing you to secure permanent residency if you meet the eligibility requirements.
  • Family benefits
    You can bring your family members (spouse and children under 18) with you to the UK, offering them access to the UK market and healthcare.

What are the requirements?

To qualify for the Innovator Founder visa, you must meet the following requirements:

  • Your business must be innovative, viable and scalable, with a clear market potential.
  • You must secure an endorsement from an approved endorsing body.
  • You must demonstrate proficiency in the English language.
  • While no minimum investment is required, you must prove that you have sufficient funds to support yourself and your dependants during your stay.

What is the application process?

The application process for the Innovator Founder visa involves two main stages:

Stage 1: Endorsement application

You will need to submit your business plan to an endorsing body for an assessment of its innovation, scalability and market potential. Once approved, you will receive an endorsement letter.

Stage 2: Visa application

You will need to submit your visa application to the UK Home Office, along with your endorsement letter and supporting documents.

Gherson’s leading Immigration Team have worked with many entrepreneurs who have successfully brought their innovative ideas over to the UK. If you have a business idea that you would like to introduce to the UK market, do not hesitate to contact our team, and we will help you explore your options. If you have any questions arising from this blog, please do not hesitate to contact us for advice, send us an e-mail, or, alternatively, follow us on XFacebookInstagram, or LinkedIn to stay-up-to-date.

Updated: 28 January 2025

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Gherson accepts no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please do not hesitate to contact Gherson. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Gherson.

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