The Innovator Founder Visa is tailored for entrepreneurs and seasoned business individuals aiming to establish a business in the UK. Unlike traditional visa routes, applicants are not obligated to possess a predetermined sum of funds for their proposed business ventures. However, the viability, innovativeness, and scalability of the business plan are paramount, and endorsement from recognized bodies is required to validate the business concept.
Application Process for the Innovator Founder Visa:
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Applicants must be at least 18 years old.
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Approval from recognized Endorsement Bodies is essential.
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The endorsement letter must be obtained within three months before the visa application.
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Proficiency in the English language at B2 level is mandatory.
Investment Requirement for the Innovator Founder Visa:
While there is no fixed investment amount stipulated, applicants must demonstrate access to sufficient investment funds to initiate and develop the business. Hence, the financial criterion for the Innovator Founder Visa is adaptable and contingent upon the individual financial requisites of each project.
Endorsement Criteria for the Innovator Founder Visa:
To secure endorsement for the business idea, certain criteria must be met, including:
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Satisfactory evidence of the source of invested funds.
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Active involvement in both conceptualization and implementation phases of the business plan.
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Demonstrated innovation, feasibility, and scalability of the business concept.
Indefinite Leave to Remain:
To qualify for indefinite residence under the Innovator Founder Visa, applicants must fulfil at least two of the following criteria:
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Investment of a minimum of £50,000 into the business idea, actively utilized for project expansion.
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Employment of a minimum of 5 workers with annual salaries exceeding £25,000.
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Employment of at least 10 workers, subject to specific criteria, without obligatory salary payments.
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Doubling of the customer base in the last three years, surpassing competitors in the same sector.
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Pursuit of Intellectual Property Protection in the UK as part of significant research and development endeavours.
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Gross income of £1 million in the business's last operational year.
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Generation of a minimum gross income of £500,000 in the last operational year, with at least £100,000 derived from overseas exports.
Furthermore, applicants must not have stayed outside the UK for more than 180 days within any consecutive 12-month period within three years from the visa approval date. Meeting English proficiency standards and possessing adequate knowledge of life in the UK are also imperative.
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