Innovator Visas

The UK Innovator visa

The Innovator Visa was created for people who wish to come to the UK to start a business for the first time or who have already established a business and are willing to continue running the business in the UK. For those hoping to obtain or renew an Innovator Visa it is crucial to note that it has been replaced by the new “Innovator Founder Visa”. 

About the Innovator Founder Visa

The new Innovator Founder Visa represents the fusing of two visa routes: the Start-Up Visa and the Innovator Visa, both of which are now closed to new applicants.

Previously, Innovators who did not qualify for Indefinite Leave to Remain (ILR) were able to extend their stay in the UK once the initial 3-year period expired by extending their Innovator Visa. But such extensions of the Innovator Visa are no longer possible. Instead, those with an Innovator Visa that is about to expire and who wish to extend their stay, will need to switch over to the Innovator Founder Visa.

Those who do not wish to switch over to the new Innovator Founder Visa, but who wish to remain in the UK might consider taking the Skilled Worker Visa route as a way to extend their stay, since the Skilled Worker Visa opens up the possibility of self-sponsorship.

That said, we’re going to look at how a person who received an Innovator Visa can switch over to the new Innovator Founder Visa using the same business as the basis for their application.

Switching from the Innovator Visa to the Innovator Founder Visa: Requirements

• You must be at least 18 years of age.
• You must have an endorsing letter from a recognised endorsing body or legacy endorsing body.
• You must meet the current English language requirements.
• If you have been in the UK for less than 12 months you will need to meet certain financial requirements*.
• Your application must not qualify for refusal under the General Grounds for Refusal.

*You must prove you have at least £1,270 in maintenance funds for yourself. If you have a dependent partner you must show an additional £285 on hand to provide for them. If you have children you will need to show at least £315 on hand for the first child and £200 for each additional child.

If You Have an Endorsement from a Legacy Endorsing Body

One of the above-listed requirements is that you have an endorsement either from a recognised endorsing body or a legacy endorsing body. What this means is that if you received your endorsement before 13 April 2023 (the date on which the new Innovator Founder Visa came into effect) you do not need to apply for a new endorsement in order to qualify for the Innovator Founder Visa.

But there are a couple of stipulations. First, you must be using the same business as the basis of your application and second, you must receive a new letter of endorsement from the legacy endorsing body.

What Your Endorsement Letter from the Legacy Endorsing Body Should Say

The new letter from the legacy endorsement body should cover all of the following points:

• It must be dated no more than 3 months prior to the date you plan to switch to the Innovator Founder Visa. For example, if you plan to apply for the Innovator Founder Visa on 1 July, the letter must be dated after 1 April. If it is dated before that it will not be accepted.
• The letter must confirm that the business being used as the basis for the new Innovator Founder Visa is the same one the applicant used to obtain the Innovator Visa.
• The letter must also confirm the applicant met all their checkpoint requirements (at 6, 12 and 24 months) with the legacy endorsing body.
• Finally, the letter must confirm that all business criteria identified during the Innovator Visa application process continue to be met.

New Additions to the General Grounds for Refusal

Above we mentioned applicants for the new Innovator Founder Visa must not violate any of the General Grounds for Refusal. It is important to note, however, that as part of the adoption of the Innovator Founder Visa new Grounds for Refusal have been added to the existing list. They are:

• Anyone who is the subject of a serious civil or criminal proceeding or investigation related to corruption, financial misconduct or other financial crimes will have their application for the Innovator Founder Visa refused.
• Anyone who has been barred from acting as a company director or from conducting financial activities in any country will have their application for the Innovator Founder Visa refused.

What About the Requirement to show £50,000?

Applicants for the now-defunct Innovator Visa were required to prove access to £50,000 which could be invested in a business. With the new Innovator Founder Visa that requirement has been removed. That said, those switching from an existing Innovator Visa to an Innovator Founder Visa may be queried on how they plan to continue funding the business. So be prepared.

Does the Innovator Founder Visa Prohibit the Applicant from Working for Someone Else?

The Innovator Founder Visa is more flexible than the Innovator Visa it replaces. Under the Innovator Visa, you could only work for the business used to obtain the visa. Under the Innovator Founder Visa, you can work for other companies in addition to (not instead of) the business used to obtain the visa. The lone stipulation is that you must be employed in a role that requires a skill level of at least RQF Level 3.

Switching from an Innovator Visa to an Innovator Founder Visa

If you plan to switch from the Innovator Visa to the Innovator Founder Visa you must do so from inside the UK. Your application must be made before your current visa expires and the application fee is £1,292. There will also be a £624 Health Surcharge for the applicant and a £470 Health Surcharge for any dependents under 18 years of age.

If your application is successful you will be granted an Innovator Founder Visa valid for a period of 3 years. Those 3 years can be applied toward the 3 years of continuous residence required to obtain ILR status.

If you would like to discuss or require more information about this new Innovator category visa, please do not hesitate to contact our team of expert UK Immigration lawyers at: barar.london@bararassociates.co.uk or on 0207 487 8370.