Innovator Founder Visa For Australians
Australian entrepreneurs looking to launch a new and innovative business in the UK may apply for an Innovator Founder Visa to enter the country and begin their professional endeavours. The business and the founder must both meet set criteria.
The Innovative Founder Visa application should be completed with specialist legal support throughout to ensure the best possible chance of success. Total Law’s team of lawyers can help – call us on +44 (0)333 305 9375 to talk through your British business plans.
UK Innovator Founder Visa: An Overview
The Innovator Visa (also known as the Innovator Founder Visa) is a professional visa specifically designed for foreign entrepreneurs to set up and run a business that is classed as ‘innovative’ in the UK.
This visa aims to attract overseas business talent to Great Britain, and so differentiates the businesses permitted under it to be unique; hence the ‘innovative’ title.
Australian citizens with a business idea that has been verified as ‘innovative’ by a relevant endorsing body may apply for the visa and if granted, move to the UK to set up the company. The company must be entirely new and cannot join any existing entity.
The Innovator Founder Visa lasts for a period of three years, with ‘check-ins’ held with the appropriate endorsing body for the business each year to ensure continued viability and eligibility.
If eligible, an Innovator Founder Visa holder may bring their dependents and partner to the UK with them under this visa class.
Page Contents
- UK Innovator Founder Visa: An Overview
- Eligibility Requirements Of The UK Innovator Founder Visa
- Approved Endorsing Bodies for Innovative Businesses
- Application Fees
- How To Apply For The UK Innovator Visa From Australia
- UK Innovator Founder Visa: Application Processing Time
- How Total Law Can Help
- Frequently Asked Questions
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Eligibility Requirements Of The UK Innovator Founder Visa
Both the visa applicant and the business they intend to launch must meet various eligibility requirements. These are as follows:
Visa applicant
- Must be aged 18 or over
- Must hold a valid Australian passport
- Must be able to prove they have access to sufficient finances to support themselves while in the UK. There is a minimum financial requirement of £1,270 in a bank account for at least 28 consecutive days before the Innovator Founder Visa application is filed.
- Meet the English language requirement – for Australian citizens, this need not be proven as applicants are applying with nationality from an English-speaking country.
The innovative business to be founded
- Your business or business idea must be new and innovative, and if already trading, it must be substantially different from any existing UK business.
- There is no fixed minimum funding requirement; however, you must demonstrate that you have sufficient funds to develop your business plan.
- Your business or business idea must be endorsed by an approved body, which will assess it based on innovation, viability, and scalability.
Approved Endorsing Bodies for Innovative Businesses
UK Innovator Founder Visas are only granted whereby the business to be launched has been endorsed by an approved endorsing body. These entities are:
- UK Endorsing Services
- Innovator International
- Envestors Limited
- The Global Entrepreneurs Programme (GEP).
Each holds its own specialism and eligibility criteria.
It is the duty of the visa applicant to contact an endorsing body ahead of making any applications through the Innovator Visa route.
The endorsing body must have agreed to and supplied a full written endorsement (an endorsement letter) of the business idea in order for it to be considered eligible for this visa type.
Applicants will need to provide evidence of structured planning documents for the proposed business, the scalable business requirement, investment funds requirement, details of the business’ founding team and any relevant intellectual property protection pending or in place.
There are several legacy endorsing bodies but it should be noted that unless their endorsement letter was provided when they were actively developing new companies for this visa class, this will no longer be considered valid.
Endorsing bodies are also able to provide endorsements for businesses under the Scale-Up Visa scheme for Australian entrepreneurs.
Application Fees
UK Innovator Founder Visas incur several costs throughout the application process.
The Innovator Founder Visa fee is £1,357 for each person, including partners and children for applications made outside the UK. Applications for an Innovator Founder Visa made inside the UK costs £1,693 per person.
Applicants should note that while the application fee must be paid in order for the visa application to be processed, it is not the only cost likely to be faced. The lengthy process of having the business proposal endorsed by a relevant body and the associated administration tasks for the application are likely to present indirect costs.
Visa application fees are non-refundable, even where an application results in a visa refusal. To maximise your chances of application success, it is recommended that specialist legal advice is sought. Contact Total Law for guidance on your Innovator Visa application today on +44 (0)333 305 9375.
How To Apply For The UK Innovator Visa From Australia
An Innovator Founder Visa can be applied for no earlier than three months ahead of the applicant’s intended travel to the UK. The process is as follows:
Approach Innovative Business Endorsing Body
An approved endorsing body must give their full written endorsement for the business proposal in an endorsement letter ahead of any visa application being made.
These bodies endorse applicants for their business planning and acumen, ensuring that Innovator Founders are competent and able to run the company once in the UK. They will also analyse and audit the business plan, partake in some Companies House research and market awareness to ensure the proposed business really is ‘innovative’, and confirm the proposal is innovative, viable and scalable. Investment funds must have been secured ahead of an endorsement being provided.
Collect other required documents
Once the endorsement letter is in place for the business, the applicant must collate all other supporting documents for all parties to be named on the application form.
Complete online visa application
The initial Innovator Founder Visa application form is filed online through the GOV.UK website. Any dependents and/or a partner may be named on this form and full business details must be provided.
Pay visa fee
The visa fee must be paid online for each party named on the Innovator Founder Visa application form. These funds clearing initiate the visa processing period.
Attend UKVCAS biometric information appointment
Once the application fee has been paid for the Innovator Funder Visa, the applicant must book a biometric information appointment at a local UKVCAS (UK Visa and Citizenship Application Services) service centre. The applicant must attend this appointment and supply their fingerprints, have their photo taken and provide their Australian passport. In most cases, the passport will be retained for the processing period of the Innovator Founder Visa.
Wait for decision
UKVCAS will contact the applicant with their decision to either grant or refuse the visa. This is always done in writing but may be accompanied by a phone call, or, in some cases, requests for further information. If the Innovator Founder Visa has been declined, information on the reasons why will be detailed alongside any relevant appeal procedure.
Need to appeal a visa refusal? Call Total Law on +44 (0)333 305 9375 for expert support and guidance through the process.
Collect passport
The Innovator Founder Visa applicant will collect their passport from the UKVCAS service point once a decision has been made. Offices usually have set hours for passport collections, so check ahead of visiting.
Travel to the UK
If the visa has been granted, the Innovator Founder Visa Holder is free to travel to the UK as soon as it is valid.
UK Innovator Founder Visa: Application Processing Time
The exact amount of time it takes to process an Innovator Founder Visa is dependent on an applicant’s individual circumstances, but on average it takes three weeks from the provision of biometric information at a UKVCAS service centre.
It may be possible to pay for expedited processing services. Contact Total Law for more information – call us today on +44 (0)333 305 9375.
How Total Law Can Help
Applying for an Innovator Founder Visa is a costly and complex process and can be difficult to navigate without the correct support. Total Law work with entrepreneurs from all across Australia and further afield to help them formulate innovative business plans and apply successfully to enter the UK and launch them.
Our team of specialist immigration lawyers help from business conception to visa completion, and can offer support and guidance through the annual ‘check-in’ appointments with endorsement bodies, too. Call our UK office today on +44 (0)333 305 9375 for more information on how we can help and to discuss your innovative business idea.
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We will examine the reasons for refusal, identify weaknesses or errors, assess your available options and provide the legal support and representation your case requires.
Related pages for your continued reading.
Frequently Asked Questions
In Australia, UKVCAS service centres are run by a third-party business called VFS Global. There are six mainland offices (Adelaide, Brisbane, Canberra, Melbourne, Perth and Sydney) and one in Tasmania (Hobart). Each has its own opening hours and these should be checked ahead of any appointment being booked. All deal with Innovator Founder Visa applications.
An approved endorsing body will confirm whether or not a proposed business meets its criteria to be ‘innovative’. This means that they must be considered unique and not similar to any other company currently operating in the UK. The Innovator Founder Visa scheme only facilitates entry to the UK for entrepreneurs of businesses meeting this definition.
Those who have been granted an Innovator Founder Visa must meet with the endorsing body who accredited their business after 12 and 24 months of arriving in the UK. At these appointments, they will work through the business’ current standing and ensures it still meets the necessary visa requirements. If these are no longer met, the Innovator Founder Visa may be terminated early or the visa holder may choose to switch it to a different visa type.
The Innovator Founder visa previously had a mandatory £50,000 business funding requirement, but that has now been removed. Your business plan will be assessed for it’s “viability”, which may involve financial backing. There is just no longer a minimum. Any business funds are separate from the requirements to support yourself while in the UK, and there must be no cross-over of these funds.
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