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United KingdomInnovator Founder Visa Program

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Overview

The United Kingdom continues to be a favored investment destination, with its capital city London recognized as a global financial hub. The country attracts businessmen from around the world, and its government maintains well-established immigration programs that undergo periodic enhancements and reforms.

Among the latest British initiatives that is gaining popularity among entrepreneurs is Innovator Founder Visa Program.

The Innovator Founder Visa targets individuals with business expertise, able to establish a new, scaling business in the UK.

Eligibility

To be eligible, applicants must showcase ample investment funds for business initiation. Additionally, their business plan must receive endorsement and approval from the Home Office. The business idea should be new, unique and viable, with potential for growth.

If the business meets the eligibility criteria, the endorsing body will provide an endorsement letter. Applicants must fulfill certain conditions, including meeting the English language requirement (CEFR level B2), being at least 18 years old, and demonstrating adequate personal savings to support themselves while in the UK.

Benefits

Residency in the UK

The UK offers one of the highest living standards in the world. The Innovator Founder Visa holders have right legally to reside and run the business in UK.

Health & Education

Access to premium healthcare and education services after obtaining UK residency.

Family Inclusion

The main applicant for the UK Innovator Founder Visa can include spouse and children in the application and attain the UK residency for the whole family.

Business Opportunities

Access to the solid banking system and financial services, along with markets for business expansion throughout Europe.

Permanent Residency

After holding the UK Innovator Visa for three (3) years, holders become eligible to become UK permanent residents and attain Indefinite Leave to Remain (ILR)

Pathway to UK Citizenship

After maintaining ILR (Indefinite Leave to Remain) status for at least one year and living in the UK for the past five years, it is possible to apply for UK citizenship.

Investment Options

The UK Innovator Founding Visa does not has any specific, set investment threshold. However, in order to attain an endorsement letter investment should start from £ 50,000
Investment in innovative start-up £ 50,000+
Joint Venture Business with UK partner £ 200,000 – £ 250,000

Applicable Fees

Apply (outside the UK) Extend or Switch (in the UK
Main Applicant £ 1,036 £1,292
Spouse or children £ 1,036 (for each person) £1,292 (for each person)

Application Process

Bayat Legal Services’ compliance team will conduct an internal due diligence check, which entails a background security screening of the applicant, Preparation of KYC (Know Your Client) and a qualification assessment.
Applicants must have a viable business plan, which must be endorsed by a special body approved by the government. Bayat Group’s experts will curate the process of getting endorsement letter and approval.
After receiving the endorsement, the applicant should proceed to collect needed documents and submit the application to the nearest UK Embassy or Consulate based on their place of residence.
After a successful application, the applicant will receive an initial 3-year visa that allows them to relocate to the UK and initiate their business. The endorsing body will conduct progress evaluations at the 6-month, 12-month, and 24-month milestones.
The visa can be extended for an additional 3-year period, contingent upon the continued operation of the business and validation by an endorsement body. After three (3) years, applicants have the option to apply for Indefinite Leave to Remain (ILR), subject to fulfilling the stipulated minimum business performance and physical residency criteria.
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