The Government released its anticipated Innovator route changes on 9 March 2023 by stating changes to immigration rules.
On 13 April 2023, the Innovator and Start-Up routes will close to new applicants and replace with the “Innovator Founder” route.
The updated Innovator route was expected to replace the Tier 1 Investor visa, which expired on 17 February 2022. In addition, an updated entrepreneur visa will excite new investors and business professionals.
Innovator Founder
Innovator Founder route changes
The new Innovator Founder route has undergone the following fundamental changes:
- The Start-Up route, which did not require £50,000 for Innovator visas, will close on 13 April 2023 due to removing the minimum funds requirement (except for endorsements issued before this date).
- Innovator Founder visa holders will be allowed to work in secondary employment if it meets a minimum skill level of RQF Level 3 (roughly A-Level and the same as for the Skilled Worker category), giving them more flexibility and making the revised route more appealing to some applicants.
- Endorsing body letters must now state there are no concerns about fund legitimacy. In addition, a new "Innovator fit and proper person requirement" adds general grounds for refusing the application.
- The revised category requires at least two "contact point" meetings between the visa holder and their endorsing body per period of permission.
- The business plan requirement will receive 20 points from the minimum funds' requirement (previously 10 points under the old route and now 30 points under the new route).
- The requirements of the application's advanced English language (10 points) and maintenance funds (10 points) have stayed the same. Therefore, the 70 points for eligibility under the previous Innovator route are still needed under the revised route.
This revised category (Indefinite Leave to Remain/permanent residency) does not change UK settlement requirements.
We await announcements on whether the list of endorsing bodies will change on 13 April 2023. Also awaited is revised category guidance.
Contact Muhammad Ahmad Zubairi, Waseem Anwar, or another immigration team member for more information.
