Diving into the realm of business visas, let’s uncover the unique features of the Innovator Founder Visa in comparison to the Innovator Visa.
Innovator Founder Visa Explained
Differentiating the Innovator Founder Visa
Are you aiming to establish and manage an innovative business in the UK? The Innovator Founder Visa is your pathway, catering to businesses that offer something distinct from existing market offerings. To qualify, your business or idea should receive an endorsement from an approved body, commonly referred to as an endorser.
Your business idea, to be deemed eligible, must align with three key attributes:
- Newness: You cannot join an already operational business.
- Innovation: Your business concept must be original, setting it apart from existing market offerings.
- Viability and Scalability: The potential for growth, job creation, and expansion into both national and international markets is essential.
Unlike earlier regulations, the £50,000 investment requirement no longer applies, marking a significant shift.
The Transition from the Start-Up Visa
The Evolution of the Start-Up Visa
Effective from April 13, 2023, the Start-Up Visa now caters exclusively to those with a valid Start-Up endorsement issued before the mentioned date. By July 13, 2023, the Start-Up route will no longer be open for new applications.
Endorsement: Who Can Support Your Business?
Navigating the World of Endorsing Bodies
Endorsement is crucial and must come from an approved endorsing body or a legacy endorsing body. A letter of endorsement from a Legacy Endorsing Body for new business criteria is accepted and awarded points only under the following conditions:
- The endorsement letter predates April 13, 2023, for Innovator route use.
- If you previously held permission under the Start-Up route, and the endorsing body for that prior permission aligns with the Legacy Endorsing Body backing the current application.
Engagement and Employment on Innovator Founder Visa
Roles and Responsibilities on the Innovator Founder Visa
Active involvement in day-to-day business management and development is essential. Once your application succeeds, certain conditions apply:
- No access to public funds.
- Exclusive work for established business(es) or employment in roles requiring skill levels not less than RQF Level 3.
- Study permissions exist, subject to ATAS condition.
Navigating the Innovator Founder Visa Application
How We Can Assist You
Embarking on your Innovator Founder Visa application journey? The expertise of our business immigration lawyers at Davenport Solicitors is at your service. We’re equipped to guide you through the intricacies and ensure a seamless application process.
Connect with Us Today
Ready to seize the opportunities that the Innovator Founder Visa offers? Reach out to our skilled business immigration lawyers at Davenport Solicitors. We’re here to address your queries, streamline your application process, and set you on a path to business success.