If you are an international tech entrepreneur planning to set up a business in the UK, you may be unsure of the best immigration route to use for you and your family. The two main routes considered by non-UK tech entrepreneurs planning to establish themselves in the UK are the Global Talent Visa and the Innovator Founder Visa. While both enable international entrepreneurs to build a future in the UK, they cater to different backgrounds, skill sets, and professional goals. This article looks at the differences and similarities between the Global Talent Visa and the Innovator Founder Visa, including the requirements, benefits, and limitations of each visa.
What are the main UK visa routes for international tech entrepreneurs?
As a non-UK national with plans to set up a business in the UK, you will most likely need a suitable visa. The two primary immigration pathways utilised by international business people who wish to set up a business and live here are the:
- Global Talent Visa, and
- Innovator Founder Visa
Each visa is quite different in terms of its benefits and requirements; hence, it is important to do your homework before deciding which visa to apply for. You may have other visa options open to you depending on your nationality, family, and history in the UK. If you are unsure of your visa options, please speak to a member of our friendly and knowledgeable immigration law team for advice based on your unique circumstances.
Global Talent Visa
Overview of the Global Talent Visa
The UK Global Talent Visa is ideal for individuals who are recognised as having ‘exceptional talent’ or ‘exceptional promise’ in fields such as digital technology, science, and the arts. Digital technology includes areas such as financial technology (‘fintech’), gaming, cyber security, and artificial intelligence.
This route is particularly attractive to tech professionals who want the flexibility to explore different opportunities once in the UK. This includes the flexibility to work for different employers, or become a freelancer, self-employed, or a director of a business.
Once in the UK, Global Talent visa holders can stay for up to 5 years with their immediate family members, travel freely to and from the UK, and apply for permanent settlement after 3 years if applying as a leader or 5 years as a potential leader in digital technology.
Eligibility for the Global Talent Visa
To apply for the Global Talent Visa as an international tech entrepreneur, you must be endorsed by Tech Nation as a leader (i.e. a person with exceptional talent) or potential leader (i.e. a person with emerging talent) in the last 5 years. ‘Leader’ refers to individuals who have already achieved notable success in their field, while ‘potential leader’ refers to those who have the potential to make significant contributions to their sector.
You should also be able to demonstrate that you meet at least 2 of the following:
- Have a record of innovation as a founder or senior executive of a product-led digital technology company
- Have a record of innovation through working in a new digital technology field or concept as an employee
- Have contributed to the digital technology sector outside of work (e.g. mentoring or collaborative projects)
- Have set up or worked in a product-led digital technology company and have made technical, commercial, or entrepreneurial contributions in the digital technology sector or
- Have had research published or endorsed by an expert.
Applicants can also qualify by holding an eligible award such as the Association for Computing Machinery Prize in Computing or the Turing Award.
What are the benefits of the Global Talent Visa for tech entrepreneurs?
Unlike many other visas, the Global Talent Visa does not require a job offer or employer sponsorship, giving holders the flexibility to decide how they work in digital technology in the UK. Another benefit is the speed of access to permanent residence. Those in the Exceptional Talent category can apply for indefinite leave to remain (ILR) after just three years, whereas those with Exceptional Promise can do so after five years.
The Global Talent visa also enables holders to bring family members to the UK who can then qualify to settle at the same time as the main visa holder.
What are the limitations of the Global Talent Visa for tech entrepreneurs?
The Global Talent visa is more geared towards individuals at the top of their game or with the potential to do so. As such, applicants need to demonstrate either established success or clear potential in their field.
Getting endorsed is a competitive process that requires detailed evidence of the applicant’s skills, contributions, and potential impact on the UK’s tech sector. With that said, it is possible to apply if you do not have an endorsement if you have an eligible award.
Innovator Founder Visa
Overview of the Innovator Founder Visa
The Innovator Founder Visa is a newer UK immigration category that is specifically for international entrepreneurs who plan to establish a unique and innovative business in the UK. Holders can stay for 3 years and then either extend their visa or apply for permanent settlement. It is also possible for holders to set up a business or several businesses (and work for those businesses), bring their partner and children with them as ‘dependants’, and travel abroad and return to the UK without restrictions.
Eligibility for the Innovator Founder Visa
To qualify, applicants must get endorsement from an approved endorsing body confirming that their business idea is innovative, viable, and scalable. Unlike the now-closed investor visa, which requires a minimum financial investment, the Innovator Founder Visa does not have a specific investment threshold. All that matters is that applicants have enough money to start up and run their new venture.
In addition to meeting the innovation, viability, and scalability requirements, applicants must meet the English language requirement and have at least £1,270 in personal savings to support themselves.
Twelve months and 24 months after getting the visa, holders are required to meet with their endorsing body to show how they are making progress with their business, in order to keep their visa.
What are the benefits of the Innovator Founder Visa for tech entrepreneurs?
Endorsement bodies place a great emphasis on helping visa holders to succeed. As such, one of the biggest benefits of the Innovator Founder visa is the support offered by business mentors, networks, and potential investors. In addition, the UK’s startup ecosystem offers resources and connections that can be highly beneficial to innovators and entrepreneurs.
Many people choose this visa because they do not need to have won an award or been recognised as a leader or potential leader in digital tech. Instead, endorsement bodies are focused on the merits of the business idea being presented.
Another key benefit of this route is accelerated permanent residence. Holders can gain indefinite leave to remain (ILR) after just 3 years as opposed to the usual 5 years for most visas.
What are the limitations of the Innovator Founder Visa for tech entrepreneurs?
Endorsement under the Innovator Founder Visa requires a strong, feasible business plan with evidence of the idea’s viability and potential impact. If you have a strong record as a successful business person, if the endorsement body is not satisfied that your business idea meets its criteria, it is likely to be refused.
Final words
Choosing the right visa for your needs involves evaluating both your short-term and long-term personal and professional goals. For tech entrepreneurs with a groundbreaking business idea and a commitment to seeing it through in the UK, the Innovator Founder Visa offers a supportive pathway with structured requirements and support. For tech talents who prefer a less rigid work structure and want to leverage their exceptional skills across multiple roles, the Global Talent Visa provides a high level of flexibility.
