New innovator founder visa route

The new innovator founder route will replace the existing innovator and start-up visa routes with the aim to provide more flexibility to those who have a genuine proposal for an innovative business to set up in the UK.

On 9 March 2023, the Government published a statement of changes HC1118 to introduce a new innovator founder route. The current Innovator and Start-Up routes are to close to new applicants and be replaced by a single ‘Innovator Founder’ route on 13 April 2023.

Key changes to the new Innovator Founder route

The following key changes have however been made to the new Innovator Founder route:

• Minimum funds requirement of £50,000 for Innovator visas to be abolished, meaning that the Start-Up route, which did not carry such a funds requirement, has become redundant and will close on 13 April 2023 (with the exception of endorsements issued before this date).
• Innovator Founder visa holders will be allowed to take up secondary employment alongside the running of their own business provided that the secondary employment meets a minimum skill level of RQF Level 3 (broadly A-Level and the same skills threshold as for the Skilled Worker category), providing more flexibility and making the revised route potentially more attractive to some applicants.
• Certain changes to the mandatory content for endorsing body letters, including a new requirement to state there are no concerns over the legitimacy of the source of funds. This change is coupled with the introduction of new general grounds for refusal under a new ‘Innovator fit and proper person requirement’ to the application.
• At least two ‘contact point’ meetings must be held between the visa holder and their endorsing body during each period of permission granted under the revised category.

Extension applications will be possible under the Innovator Founder – Same Business criteria, where the applicant last had permission as an Innovator Founder or was on the Start-Up or Tier 1 (Graduate Entrepreneur) routes. The settlement will be possible after spending three years continuously resident in the UK under the Innovator Founder route.

Disclaimer:

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Adivis and its authors accept no responsibility for loss that may arise from accessing or relying on information contained in this blog. For formal advice on the current law please don’t hesitate to contact Adivis. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Adivis.

adivis

View author's profile | More posts from author