If you are an entrepreneur aiming to establish a business in the UK, several visa options can pave the way for you to live and build your business here.
The primary route now available to new applicants is the Innovator Founder Visa, which has replaced previous categories such as Tier 1 (Graduate Entrepreneur), Tier 1 (Entrepreneur), Innovator, and Start-up visas. However, the Tier 1 (Investor) visa route was discontinued in February 2022, with no current alternative.
Entrepreneur Visa UK also offers a pathway to permanent settlement and allows dependents to join you. For professional advice and comprehensive support with your visa application, contact our immigration solicitors at 02033939272. We are here to guide you every step of the way.
The Tier 1 Entrepreneur Visa UK is a UK business visa that allows prospective entrepreneurs to enter the UK and establish a new business or take over an existing one. It offers the opportunity for applicants to do business in the UK as an individual, a partnership, or a limited liability corporation.
Applicants must actively manage their business in the UK and meet the specific requirements under the Immigration Rules to be successful in their application. This includes scoring a total of 95 points. Points can be earned by having access to £200,000 in funds, or £50,000 if applying as a Graduate Entrepreneur.
Please note that as of April 2019, the Tier 1 Entrepreneur Visa was replaced by the Innovator Visa. Therefore, new applications for the Tier 1 Entrepreneur Visa are no longer accepted. However, those with an existing Tier 1 Entrepreneur Visa can apply for an extension or settlement under the appropriate conditions.
Entrepreneurs considering setting up a business in the UK have access to various visa routes depending on their business plans, investment levels, and skills.
Here are the key options currently available:
The Innovator Founder Visa is the primary route for experienced entrepreneurs wanting to establish an innovative business in the UK. It replaces the previous Innovator and Start-Up visas. Applicants must have a business plan authorised by a recognised organisation and demonstrate that the business is innovative, viable, and scalable. Unlike earlier routes, no minimum investment amount is required, but significant personal involvement in business growth is necessary.
This start up visa was aimed at entrepreneurs starting a business for the first time. It required endorsement from a UK higher education institution or business organization. While new applications are no longer accepted, current holders can transition to an Innovator Founder Visa as their business evolves.
Previously a popular route for business people investing £200,000 in a UK business, this visa category is now closed to new applicants. Those already holding Tier 1 (Entrepreneur) visas can extend or apply for settlement under specific conditions.
While tier 1 investor visa offered a non-endorsement-based route for high-net-worth individuals investing £2 million or more, it was discontinued in February 2022. No direct replacement currently exists, though other pathways for business investment remain under consideration.
Most people associate the Innovator Visa with the previous Tier 1 Entrepreneur Visa. Here are the entrepreneur visa UK requirements that applicants must meet:
The Innovator Visa application process cannot commence unless a valid endorsing organisation has given its stamp of approval to the applicant’s proposed business venture.
Organisations that offer their stamp of approval should have experience helping business owners in the UK. Nonetheless, another entity (with a history of success) can also establish a new company that meets the criteria.
Three criteria will be used by endorsement bodies to ascertain whether a company proposal is viable:
The specific documents that are required will vary based on the applicant’s situation and application.
All Innovator Visa applications must include the following documents:
Innovator Visa Fees
The cost of the Innovator Visa varies depending on the type of application you are submitting:
Special rates for applicants from Turkey or Macedonia:
In addition to the application fee, you will need to pay a healthcare surcharge and a biometric fee of £19.20.
If submitted from outside the UK, a decision on your application should be received within three weeks. The processing time for applications submitted from the UK can reach eight weeks.
Your application may take more time to be processed if immigration officials face any issues.
For professional help with applying for a visa to the United Kingdom, contact Rees Clayton. To give you the best chance of success, one of our immigration law specialists can assist you in making sure your application satisfies all requirements and the rigorous administrative standards set by the Home Office.
You can go to the UK with specific dependent family members if you have an innovator visa.
A person holding an Innovator Visa can claim the following individuals as dependents:
If an applicant wants to bring a dependent to the UK, they must show that they have saved £630 for each of them.
The dependent can change their visa status to that of a legal resident as a dependent of the Innovator Visa holder if they are already residing in the UK.
Startup Visa applicants are not required to have a certain minimum capital to invest in their venture. The Innovator Visa differs significantly from the Start-up Visa in this regard.
Potential applicants for the Start-up Visa include those who fulfil the following requirements:
An authorised entity must support the applicant’s business idea before they can apply for a Start-up Visa.
The proposal needs the stamp of approval from an official UK institution of higher learning or a business group with a track record of backing entrepreneurs in the UK.
The following requirements must be satisfied before the business proposal can be considered:
The primary documents needed for an Innovator Visa are also necessary for a Start-up Visa, with the exception of proof of investment capital.
Prospective employees must present:
Applications for Start-up Visas are typically processed within three months by the Home Office. A decision should be reached within three weeks if the application is made outside of the UK.
The Start-up Visa fees depend on the type of application being made:
Special rates for applicants from Turkey or Macedonia:
As with the Innovator Visa, applicants must also cover the healthcare surcharge and biometric fee of £19.20.
Some members of your family may be able to accompany you to the UK as dependents if your application for a Start-up Visa is approved.
In addition to the usual £945, you will need an additional £630 to cover the costs of supporting any dependents who are accompanying you to the UK.
Both citizens and non-citizens living in the UK can apply on behalf of dependents. As a biometric requirement, dependents will need to submit a photo and fingerprints with their application.
For individuals who have a substantial amount of wealth to invest in a business in the UK, there is a somewhat distinct type of visa called the Investor Visa.
Having a minimum of £2,000,000 in investment capital is the primary criterion for this special visa.
The typical application fee for an Investor Visa is £1,623. At the conclusion of its initial three-year and four-month term, the Investor Visa becomes eligible for an automatic extension.
Compared to other UK visas, the Investor Visa offers better terms. After only two years of lawful residence in the United Kingdom, Investor Visa holders may be eligible to apply for settled status, subject to specific conditions.
If you already have one of the following UK visas and match the requirements for the Innovator Visa, you can transfer to it:
You should know that in order to qualify, you must have your business idea authorised by an licenced organisation.
In order to stay in the UK until their Innovator Visa application is decided, applicants need to apply before their current visa expires.
It is indeed feasible to transfer some UK visas to the Start-up Visa.
The following are:
You should be aware that any time you have already spent under the Tier 1 Entrepreneur Visa UK will be counted towards the two years of the Start-up Visa if you decide to move from that visa to the Start-up Visa. This applies if you are a graduate entrepreneur.
Applying for a Start-up Visa change might take up to eight weeks at the Home Office.
Please note that the Tier 1 Entrepreneur Visa and the Tier 1 Graduate Entrepreneur Visa are now unavailable.
But if you’re still legally present in the UK with a Tier 1 Entrepreneur Visa (issued before April 2019), you can change your visa.
From the Tier 1 Entrepreneur Visa, you can still transfer to the Innovator or Start-up Visa, and there are still circumstances where you can request to extend your Tier 1 Entrepreneur Visa.
The minimum residency criteria for Indefinite Leave to Remain and British citizenship can be satisfied during the time spent in the UK under a Tier 1 Graduate Entrepreneur Visa or a Tier 1 Entrepreneur Visa.
The Entrepreneur Visa UK is a category of UK visas that allows foreign nationals to establish and run a business in the UK. The primary route for new applicants is the Innovator Founder Visa, which replaces older routes like the Tier 1 Entrepreneur Visa. This visa provides a pathway to permanent residency and British citizenship after five years.
Yes, dependents such as your spouse, partner, and children under 18 can accompany you on an Entrepreneur Visa UK. You’ll need to prove that you have the required additional funds to support them. For a partner, this means an additional £285, and for children, it’s £315 for the first child and £200 for each additional child.
The Innovator Founder Visa allows you to stay in the UK for up to three years. After this period, you can apply for an extension if your business is still active. After five years, you may be eligible to apply for Indefinite Leave to Remain (ILR) and, eventually, a British entrepreneur visa and citizenship.
Yes, if you are on a Tier 1 Entrepreneur Visa, you can still apply for an extension or Indefinite Leave to Remain (ILR), provided you meet the requirements. However, new applications for this visa are no longer being accepted, as it was closed to new applicants in 2019.
The application fee for the Innovator Founder Visa is £1,021 for the main applicant. Dependents are charged the same amount. Additionally, applicants must pay the healthcare surcharge and, in some cases, a biometric fee.
If you are applying from outside the UK, the processing time for the Innovator Founder Visa is usually around three weeks. For applications made inside the UK, the processing time is typically up to eight weeks. Processing may take longer if additional information or documentation is required.
If you are applying for the Innovator Founder Visa, there is no minimum investment fund requirement. However, you must still prove that your business is innovative, viable, and has potential for growth. A robust endorsement and business plan are crucial for this route.
The Start-up Visa was aimed at new entrepreneurs starting their first business in the UK. Unlike the Innovator Visa, it didn’t require a minimum investment amount, but applicants still needed to demonstrate that their business was innovative, viable, and scalable. The Start-up Visa is no longer accepting new applications. It has been replaced by the Innovator Visa, which provides a more comprehensive pathway for entrepreneurs to grow their businesses in the UK.