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    Extending Your UK Start-up Visa: Transitioning to the Innovator Founder Visa

    If you are a Start-up Visa holder in the UK and approaching the end of your two-year visa period, you may be wondering what your next steps should be to continue developing your business in the UK. While the Start-up Visa itself cannot be extended, transitioning to the Innovator Founder Visa is an excellent option for entrepreneurs looking to scale their business and remain in the UK. This route allows you to further develop your enterprise while offering a pathway to long-term settlement.

    Why Transition to the Innovator Founder Visa?

    The Innovator Founder Visa is designed for more established entrepreneurs who have demonstrated the viability and potential of their business during their initial Start-up Visa period. Unlike the Start-up Visa, which is aimed at newer ventures, the Innovator Founder Visa provides a longer stay and offers permanent residency options after a certain period. If your business has gained traction and shows promise for growth, this visa is the most logical step forward.

    Key Benefits of the Innovator Founder Visa

    • Longer Duration and Flexibility The Innovator Founder Visa is initially granted for three years, giving you ample time to focus on scaling your business. Unlike the Start-up Visa, this visa can be renewed indefinitely as long as you meet the requirements, making it a more permanent solution for entrepreneurs committed to their UK-based venture.
    • No Minimum Investment Requirement One significant advantage of the Innovator Founder Visa is the absence of a minimum investment requirement. While previous versions of the Innovator Visa required at least £50,000 in investment, the new Innovator Founder Visa focuses on the business’s viability, innovation, and scalability rather than just financial input.
    • Pathway to Settlement After spending three years on the Innovator Founder Visa, you may be eligible to apply for indefinite leave to remain (ILR) in the UK, provided you meet the necessary conditions. These include demonstrating that your business is active and sustainable, creating jobs for UK workers, or achieving specific financial milestones, such as generating £1 million in revenue. This makes the Innovator Founder Visa an attractive option for those aiming to settle in the UK permanently.
    • Work Flexibility The Innovator Founder Visa allows you to work on your own business full-time. However, unlike the Start-up Visa, Innovator Founder Visa holders cannot engage in outside employment. This ensures that your full focus remains on developing your business and achieving long-term success.
    • Endorsement Support One of the core features of the Innovator Founder Visa is that you will continue to receive endorsement from an approved endorsing body, which assesses whether your business remains innovative, viable, and scalable. This endorsement not only strengthens your visa application but also provides ongoing support and mentorship, helping you grow your business further.

    Eligibility for the Innovator Founder Visa

    To transition to the Innovator Founder Visa from a Start-up Visa, you need to meet certain eligibility criteria:

    • Business Endorsement You must obtain a new endorsement from an approved UK endorsing body, similar to the endorsement you secured for your Start-up Visa. The endorsing body will review your business’s progress, assessing its innovation, viability, and scalability. If your business has made significant progress and shows potential for further growth, obtaining a re-endorsement should be achievable.
    • English Language Requirement You must meet the English language requirement, which means demonstrating that you have at least B2 level proficiency on the Common European Framework of Reference for Languages (CEFR). Most Start-up Visa holders will have already satisfied this requirement, so it will not typically present an obstacle.
    • Financial Requirements While the Innovator Founder Visa does not have a specific investment requirement, you must show that you have sufficient personal funds to support yourself during your time in the UK. This includes having at least £1,270 in personal savings, which must be held for a minimum of 28 consecutive days before your visa application.
    • Commitment to Your Business As an Innovator Founder Visa holder, you are required to work full-time on your endorsed business. You cannot engage in other employment, ensuring that your focus remains solely on the development and expansion of your venture.

    Transitioning from the UK Start-up Visa to the Innovator Founder Visa offers a clear path to continue building your business while enjoying long-term residency benefits. With no minimum investment requirement, a three-year visa duration, and the potential to apply for indefinite leave to remain, the Innovator Founder Visa is an excellent choice for entrepreneurs looking to scale their ventures in the UK. Start the process early by maintaining communication with your endorsing body and ensuring your business meets the necessary criteria for growth and innovation.

    For more detailed guidance and support in transitioning to the Innovator Founder Visa, please do not hesitate to reach out to the experienced Sterling Lawyers team.

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