The Innovator Founder visa has been established as a singular immigration pathway, thereby replacing both the Innovator visa and Start-up route as of April 13th, 2023. This program is designed for aspiring entrepreneurs and seasoned business professionals from international backgrounds who desire to develop a cutting-edge enterprise in the United Kingdom.
The innovator founder visa pathway offers a distinct opportunity for entrepreneurs not residents of the United Kingdom to actualize their business concepts within the UK. Upon receiving approval, individuals can engage in their pre-existing entrepreneurial endeavors while pursuing further employment prospects that necessitate a skill level equivalent to or surpassing UK A levels. Furthermore, individuals have the opportunity to engage in academic pursuits while simultaneously overseeing their entrepreneurial endeavors. At the outset, founders who are innovators are granted authorization to reside and engage in employment within the United Kingdom for a duration not exceeding three years.
Subsequently, individuals may apply for indefinite permission to remain, contingent upon fulfilling the requisite criteria. In addition to the innovator founders themselves, it is permissible for them to be accompanied by their close family members, such as their partner and dependent children when relocating to the United Kingdom. The partners and children of dependents are free to engage in employment across many sectors, except as sports coaches or players, while also having the opportunity to pursue their educational endeavors.
Here is a step-by-step on how to apply
- Find a firm or agency specializing in helping people obtain Innovator Founder Visas.
Contact an Innovator Founder Visa sumission service for a preliminary assessment of your eligibility for an Innovator Founder visa. Be prepared to answer their questions and provide as much information as possible about your business and application goals. Experts in the law will evaluate the data and advise you based on their findings.
- Determine if you are qualified to contact endorsement organizations.
Each applicant is responsible for verifying that they fit the requirements for an Innovator Founder Visa. Once you have completed Step 1, immigration lawyers will schedule a first meeting to determine if you meet the basic requirements for an Innovator Founder visa as outlined in the Immigration Rules.
- Evaluate your business concept or idea.
To qualify for an Innovator Founder Visa, you must show endorsement agencies that your business idea is novel, commercially viable, and expandable. Schedule a meeting with your attorneys to discuss this and get advice on whether or not it meets the requirements to be submitted to an endorsement body.
- Connecting with Endorsing Organizations
The final step is for your legal team to formally introduce you and your business concept to one or more endorsing organizations authorized by the Home Office.
- Verification of the Business Model and Concept
The endorsing organization will assess your idea and business strategy during your preliminary meeting. If they decide to take a further look at your proposal, they will work with you to learn all they can about your firm, finances, and potential for innovator founder endorsement.
- Comprehensive Know Your Customer and Due Diligence
The endorsing body will require comprehensive details about you and your funding source. To ensure the endorsing body can easily digest and make sense of this data, consult your legal team about how best to deliver it.
- Submitting a Visa Application as a Founder Innovator
Your team should assist you in submitting your Innovator Founder Visa application to the appropriate division of the UK Home Office once you have completed the stages above and received support from an endorsing body. There are strict standards for proof of innovation and financial backing in the UK’s Business Immigration Rules.
Approval of Applications and Mentoring
If you’ve applied for an Innovator Founder Visa and been granted entry to the UK, you can begin working on your company plan there.
In conclusion, to maximize your chances of being granted an Innovator Founder Visa, you should remember that the process is lengthy and intricate. Get help from the experts if you want to make it through the application process unscathed. This visa option presents a rare chance for business owners to launch and expand cutting-edge companies in the United Kingdom, boosting the economy and promoting a culture of innovation.