The United Kingdom has streamlined how it attracts global entrepreneurs. The government has made significant changes to its business visa routes. The well-known Start-up visa is now closed to new applicants. It has been replaced by a single, more flexible pathway.
Understanding this change is crucial for any aspiring founder. This guide covers the essential facts about the UK’s current route for entrepreneurs: the Innovator Founder visa. It is now the primary option within UK immigration programs for those wanting to launch a new venture.
Key Facts About the UK’s New Visa for Entrepreneurs
1. It Replaces the Old Start-up and Innovator Visas
In April 2023, the UK government closed the Start-up and old Innovator visa routes. They were merged to create one single category: the Innovator Founder visa. Any information promoting the old Start-up visa is now outdated. This new route is the only dedicated path for new entrepreneurs.
2. Endorsement is a Mandatory First Step
You cannot apply for the visa directly with the Home Office. First, you must secure an endorsement from a government-approved endorsing body. These organizations will assess your business plan. They must agree that your idea is innovative, viable, and scalable before you can proceed.
3. The Rules Offer More Flexibility
The new route has two major advantages over the old system. First, the requirement to have £50,000 in investment funds has been removed. Second, you are now permitted to take on secondary skilled employment. This provides founders with more financial stability as they build their company.
4. It Provides a Fast Path to Settlement
The Innovator Founder visa offers a direct route to permanent residence. This is known as Indefinite Leave to Remain (ILR). You can apply for ILR after just three years in the UK. This is faster than many other visa categories. To qualify, you must show your business has met at least two specific success milestones. This must be confirmed by your endorsing body.
5. You Can Bring Your Family
This visa route allows you to bring your dependents to the UK. This includes your partner and any children under the age of 18. They can apply for their visas at the same time as you. This makes it a comprehensive solution for entrepreneurs wishing to relocate with their family.
The Innovator Founder visa is now the UK’s flagship program for international entrepreneurs. It focuses on genuine innovation while offering greater flexibility and a quick route to settlement. Success depends on having a strong business plan and securing an official endorsement. Understanding these key points is vital for navigating the current landscape of UK immigration programs. For detailed guidance, seeking expert advice is always recommended.
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