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UK Innovator Founder Visa: Overview
The Innovator Founder Visa is designed for individuals with relevant business experience and sufficient funds to establish and grow a new business in the UK.
Application Process
Before applying, prospective applicants must have their business or idea evaluated by a Home Office-approved endorsing body. This assessment determines the viability of the business, and if approved, the endorsing body will issue an endorsement letter to accompany the application.
Successful applicants receive a three-year visa and can bring family members to the UK. After three years, they may apply for an extension or for permanent residency under indefinite leave to remain (ILR). Each stage—initial application, extension, and settlement—requires endorsement from an approved body.
Advantages of the UK Innovator Founder Program
- Residence permits issued within three weeks
- A route to permanent residency after three years
- Access to an international business environment
- Favorable tax regime for non-domiciled residents
- Direct flight connections to major global cities
- World-class educational institutions
Requirements for Applicants
Applicants must:
- Be at least 18 years old
- Present a new and viable business idea with growth potential, supported by an endorsement letter from an approved body
- Demonstrate sufficient investment funds for establishing and developing the business
- Be the sole or a key member of the founding team
- Meet English language requirements at CEFR Level B2 (intermediate)
The new business must meet these three criteria:
- Innovation: A unique business plan addressing market needs or providing a competitive edge.
- Viability: A realistic and achievable business plan based on available resources, with the necessary skills and market awareness.
- Scalability: Evidence of structured planning and potential for job creation and growth in national and international markets.
Application Procedures and Timeline
The completed application and supporting documents should be submitted to the relevant diplomatic post in the applicant’s country. The processing time can vary from one to eight weeks.
After the initial three-year period, the main applicant must apply for an extension while in the UK. If all criteria are met, a three-year extension will be granted. Following a minimum of five years in the UK (with ILR held for at least the last 12 months), applicants can apply for British citizenship.
Business owners may also pursue secondary employment, provided it is in skilled labor.
For detailed information about the Innovator Founder Visa, please refer to the Home Office website. This overview does not constitute immigration advice.
Frequently Asked Questions (FAQ)
What is the UK Residence by Investment Program?
The UK residence by investment program, known as the UK Innovator Founder Program, allows individuals and their families to gain residency in exchange for establishing significant, innovative, and scalable businesses in the UK.
What investment options are available?
Applicants must present a viable, endorsed business idea and demonstrate sufficient investment funds. They should be key members of the founding team and meet criteria for innovation, viability, and scalability in their business plans.
What are the advantages of acquiring UK residence through investment?
Advantages include:
- The right to live, work, and study anywhere in the UK
- Visa-free entry access to many countries
- Access to a vibrant international business environment
- High-quality healthcare and education
What are the advantages of acquiring UK residence through investment?
Advantages include:
- The right to live, work, and study anywhere in the UK
- Visa-free entry access to many countries
- Access to a vibrant international business environment
- High-quality healthcare and education
What is the minimum investment requirement?
There is no specific minimum investment requirement, but applicants must have sufficient funds to create an innovative and scalable business.
How long does the application process take?
The processing time for applications typically ranges from one to eight weeks.
Is it possible to include family members in the application?
Yes, spouse and dependent children can be included in main applicant’s application.
What are the residency requirements?
To maintain residence status applicants must reside in the UK for at least three years, with absences not exceeding 180 days in any 12-month period.
What are the required documents?
Required documents include:
- A valid passport
- Proof of investment or contribution
- A clean criminal record
- Additional supporting documentation
Is it possible to obtain UK citizenship through this program?
Yes, investors may be eligible to apply for UK citizenship five years after obtaining indefinite leave to remain.
What is the application process?
Applicants must first have their business idea assessed by an endorsing body. Once approved, they can submit their application to the Home Office along with the necessary documents and undergo a due diligence process.