To apply for ILR (Indefinite Leave to Remain) under the Innovator Founder visa, you need to meet at least two of the following criteria:- Invested at least £50,000 in your business.
- Doubled the number of clients in your company and exceeded the industry average.
- Conducted significant research resulting in an application for intellectual property protection in the UK.
- Achieved a gross income of at least £1 million in the last financial year.
- Earned a gross income of at least £500,000 in the last financial year, with a minimum of £100,000 from exports.
- Created and sustained 10 or more full-time jobs lasting at least 12 months in your business.
- Established 5 full-time jobs with salaries of at least £38,700 each, also lasting at least 12 months.
Initially, these requirements may seem challenging, but breaking them down into smaller tasks makes them more manageable.
For example, what needs to be done in the first year?- Register the company with Companies House.
- Open a bank account in the UK.
- Develop the company's branding.
- Hire an accountant.
- Engage lawyers to ensure compliance with UK legislation throughout the company's operations.
- Establish contacts with potential developers, suppliers, and clients.
Additionally, to qualify for British ILR, you must meet the following criteria:- Knowledge of life in the UK: If you are aged 18 to 64, you must pass the Life in the UK Test.
- Time spent outside the UK: You must not have spent more than 180 days outside the UK in any given 12-month period.
When to apply?You can apply 28 days before you become eligible. Applying earlier may result in your application being rejected.
Do not wait until your current visa expires. If your visa expires before you can apply for Indefinite Leave to Remain, you will need to renew it first.
Costs and timelinesThe application fee is £2,885 per applicant.
Each applicant will need to provide biometric information (fingerprints and a photograph) - there is no charge for this.
Decisions are typically made within 6 months.