The Digest:
The UK Home Office has introduced significant changes to the Innovator Founder Visa, now allowing international students to switch to this route without leaving the country, a major policy shift effective November 25 aimed at retaining global entrepreneurial talent.
Key Points:
- International students can now apply for the visa from within the UK, eliminating the previous requirement to leave after studies.
- Applicants must be 18+ with an innovative, market-differentiating business idea endorsed by an approved body.
- Financial requirements include £1,270 in personal savings held for 28 consecutive days before applying.
- Visa costs are £1,274 (outside UK) or £1,590 (inside UK), plus £1,000 endorsement fee and £500 progress review fees.
- Endorsing bodies must confirm business progress at 12 and 24 months before settlement eligibility.
- Settlement is possible after 3 years if the business meets criteria like £50k investment, £1M revenue, or 10+ jobs created.
- Dependants (spouse/children under 18) are eligible to accompany the main applicant.
Sources: UK Home Office, The Cable
