International students in the United Kingdom will be eligible for an Innovator Founder visa without having to leave the country, provided they meet specific requirements, according to an immigration White Paper approved last month.
The bulky 82-page immigration White Paper was released in May.
Foreign students can apply for an Innovator Founder visa if they want to set up and run an innovative business in the UK, different from anything else on the market.
The business must have growth potential and demonstrate the ability to create jobs and expand into national and international markets.
The visa route takes effect on November 25 and lasts for three years. There are no limits on the number of times it can be extended, and applicants may be able to apply for settlement after 3 years in the UK.
To apply, applicant must have their business (idea) assessed by an endorsing body, meet an English language requirement, be at least 18 years old, and have enough personal savings of at least £1,270.
However, applicants will need to meet with their endorsing body after 12 months and 24 months to show business progress.
The changes came the same week that foreign students were given 18 months to find employment after graduation, down from the current 2 years.
The Home Office said the changes, which take effect from January 1, 2027, were necessary to ensure graduates contribute effectively to the economy.
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