INNOVATOR | Fenix Visa

INNOVATOR FOUNDER VISA

The Innovator Founder Visa is designed for both experienced business professionals and aspiring entrepreneurs aiming to establish a business in the United Kingdom. Unlike other visa categories, there is no fixed investment requirement. Applicants must, however, present a credible business plan supported by an approved endorsing body. The business must be innovative, viable, and scalable. This visa route became available on 13 April 2023.

Applicants must have either developed or significantly contributed to the creation of their business idea. They are also expected to be actively involved in the daily operations and development of the business. The Innovator Founder Visa is valid for three years and may lead to indefinite leave to remain in the UK. Applicants may include their spouse or partner and children under 18 in their application.

Requirements for an Innovator Founder Visa

To be eligible, applicants must:

Be at least 18 years old
Secure an endorsement from a Home Office-approved endorsing body confirming eligibility, innovation, viability, and scalability of the business, and no concerns about the source of any investment
Commit to a minimum of two contact point meetings with the endorsing body during the visa period
Submit a business plan they have either created or significantly contributed to
Have an endorsement letter issued within three months prior to application
Be the sole founder or a critical member of the founding team
Have sufficient personal funds to support themselves and any dependants
Demonstrate English language proficiency at CEFR Level B2 or higher
Provide a TB test certificate if applicable
Ensure the application does not fall under general grounds for refusal

Requirements may vary depending on the individual’s circumstances.

Suitable Candidates

The visa suits individuals with a genuine, scalable, and innovative business idea. The business may be new or pre-existing but must not yet be trading. Applicants can apply as individuals or as part of a founding team, provided they hold a significant role.

For those aiming to join an existing business, the Skilled Worker Visa may be more appropriate. Alternatively, senior executives of overseas companies may consider the UK Expansion Worker Visa.

Investment Funds

There is no minimum investment threshold. However, applicants must show that their business idea is financially supported at a level appropriate to its scope and requirements.

Endorsement Criteria

New Business Proposals:
The endorsing body must confirm:

The applicant is suitable for the Innovator Founder route
No concerns exist about the origin of the investment funds
There is no evidence of involvement in illicit or unexplained wealth

Business Plan:
Applicants must demonstrate direct involvement in formulating the business plan and show they will implement it. They must attend at least two review meetings with the endorsing body.

Innovation, Viability, and Scalability:

Innovation: Offers a unique product or service addressing market needs or delivering a competitive advantage
Viability: Practical, resource-supported, and managed by individuals with the required skills and insight
Scalability: Demonstrates structured planning, job creation potential, and growth opportunities in UK and global markets

Same Business Criteria

Applicants seeking re-endorsement for a business previously assessed under an Innovator, Start-up, or Tier 1 route must prove:

The business is registered and they are listed as a company director or member
It is active, trading, and sustainable
There has been measurable progress in line with the initial business plan
They played a key role in business operations

Additionally, they must demonstrate prior compliance with contact point meetings.

Approved Endorsing Bodies

From 13 April 2023, a list of approved endorsing bodies will be published by the Home Office. Those endorsed before this date by “Legacy Endorsing Bodies” may continue using their endorsement provided it was issued before that date.

English Language Requirement

Applicants must prove their proficiency in English across reading, writing, speaking, and listening to at least CEFR Level B2, unless exempt.

Financial Requirement

Applicants must show they held at least £1,270 in personal savings for a 28-day period immediately preceding the application, unless exempt.

Applying as Part of a Team

Multiple founders can apply for this visa, provided each member is essential to the business and individually endorsed by an authorised body.

Switching to the Innovator Founder Route

Applications may be submitted from within the UK, except for individuals previously granted leave under categories such as Visitor, Short-term Student, Seasonal Worker, or others outside the Immigration Rules.

Visa Validity

This visa is valid for an initial three-year period and may be extended for successive three-year terms. There is no limit to extensions. After three years, applicants may apply for settlement.

Conditions of Stay

Visa holders must work for the business(es) they have established. While secondary employment is permitted, it must be in a role classified at RQF Level 3 or above.

Contact Point Meetings

At least two meetings must be held with the endorsing body during the visa period to assess progress and ongoing eligibility. Failure to attend may result in visa cancellation.

Indefinite Leave to Remain (ILR) Criteria

To qualify for ILR, applicants must:

Be endorsed as having made substantial progress in their business
Be registered with Companies House and actively managing a trading business
Have played a key role in business development

Additionally, applicants must meet two or more of the following:

At least £50,000 invested and spent in the business
Creation of at least five full-time jobs with an average salary of £25,000
Creation of at least ten full-time jobs for settled workers
Doubling of customer base within three years and surpassing market average
Engagement in R&D activities and IP filings in the UK
Annual gross revenue of at least £1 million
Annual gross revenue of £500,000, including at least £100,000 from exports

Applicants must also meet absence limits (not exceeding 180 days outside the UK in any 12-month period) and demonstrate knowledge of English and life in the UK.