Everything you need to know about the UK’s new Innovator Founder visa

There will now only be certain Home Office-approved endorsing bodies. Going forward, new applicants who do not have an endorsement letter dated prior to 13 April 2023 will need to seek an endorsement with one of the new endorsing bodies approved for the Innovator Founder route.

The new endorsing bodies approved for the Innovator Founder visa are:

Envestors Limited
UK Endorsing Services
Innovator International
The Global Entrepreneurs Programme (GEP)

GEP only provides visa endorsements for founders who have already been invited to participate on their programme.

The requirement to show the business proposal is innovative, viable and scalable is still a key feature under the Innovator Founder visa programme. It is possible to apply with a new business concept, or to apply under the same business category, provided you previously obtained permission as an Innovator Founder, Innovator, Start-up or Tier 1 (Graduate Entrepreneur), and were assessed in a previous application using the same business concept. While the new route is vastly similar to the previous scheme, the new visa does offer some welcome changes.

No GBP 50,000 minimum investment requirement

Previously, applicants were required to show they had at least GBP 50,000 available to invest in the new business. This requirement has been scrapped under the Innovator Founder visa, offering greater flexibility to entrepreneurs. Businesses that do not need a large amount of capital to kick start their business will see great benefit to this. However, if your business idea requires a significant cash injection to launch, then the new endorsing bodies may still want evidence that you have the necessary funds available to start your business in the UK, usually for at least the next 12 months.

Minimum two contact points

Legacy endorsing bodies were previously required to stay in contact with Innovator applicants at checkpoints of 6, 12 and 24 months. The new rules now only require a minimum of two contact points, providing more flexibility as to when new applicants need to meet with their endorsing body. Different industries and businesses will have different timelines in how they develop their businesses, so moving away from set 6, 12, and 24-month checkpoints will help ease the pressure on some entrepreneur innovators to develop their businesses under less rigid timescales. 

Secondary employment allowed

Previously, it was a condition that Innovators could only work for the business the Innovator had established in the UK. Now, Innovator Founders can take up secondary employment provided that the role is at a skill level not less than RQF Level 3 – equivalent to A-levels or high school leavers. This is a welcome change as it is not uncommon for entrepreneurs to start their new business venture while being employed at other businesses. This reflects the reality of many genuine, multifaceted entrepreneurs. It also helps entrepreneurs to earn income and maintain their life in the UK until their business is at a stage where the applicant no longer requires earning from their secondary employment.

Can I use an endorsement letter issued by a legacy endorsing body under the new scheme?

If you are applying on the basis of a new business, you can use the endorsement letter issued by the legacy endorsing body if the letter is dated before 13 April 2023. Alternatively, if the legacy endorsing body previously endorsed you as a Start-Up visa applicant, then the same legacy endorsing body may endorse you to apply for the Innovator Founder visa.

If you are applying under the same business category, you may only rely on the endorsement from a legacy endorsing body if you previously obtained your first endorsement letter with that same legacy endorsing body before 13 April 2023, and subsequently applied for the Innovator Founder visa after 13 April 2023.

With these changes, visa applicants will now need to check a number things before they apply. 

Nick Rollason is a Partner and Head of Business Immigration. He advises on all areas of UK immigration and nationality law and has expertise in providing strategic advice to businesses on their global immigration needs. He has litigated key test cases before the European Court of Justice.

Jessica Jim is a Senior Associate in the immigration team at Kingsley Napley and advises on a wide range of personal and business UK immigration matters. Jessica has extensive experience advising high net worth individuals on their relocation to the UK, particularly entrepreneurs and start ups.