Individuals with industry experience who want to start or run a business on the Island are eligible for the Isle of Man Innovator visa.
Unlike the UK program, the candidate does not have to be the sole founder of the company; he/she can be part of a team of entrepreneurs.
Each individual should have at least £50,000 in available funds and should genuinely intend to work for the company listed in their application and be capable of doing so.
Applicants may be required to demonstrate their English language proficiency by passing a certified test with at least CEFR level B2 in speaking, reading, writing, and listening, or by possessing educational qualifications taught or expounded in English and is equivalent to a UK bachelor's, master's, or Ph.D.
Those interested in applying for an Innovator visa must first be approved by the Department of Enterprise and receive a Letter of Endorsement, which is required to support the visa application. The applicant must meet the following prerequisites to be considered:
The Department of Enterprise must be convinced that the applicant will spend the vast majority of their working time developing and managing their stated business on the Isle of Man. During the duration of the visa, individuals can only leave the UK and Islands for a maximum of 180 days in any 12 months.
In addition, the applicant's business plan must indicate that the proposed business will employ:
The Department of Enterprise will meet with the candidate at least once every six months for the duration of the visa.
Once selected, an applicant (who must be at least 18 years old) will be granted a three-year visa. A person may apply for a three-year extension after the completion of the first three years - there is no limit to how many times it can be extended. After three years of residence on the Isle of Man, an individual can apply for indefinite leave to remain.
We have a team of highly experienced and skilled professionals who have been assisting people with visas. We have the highest success rate when it comes to helping people get the Isle of Man Innovator visa. Throughout the process, we work with individuals and families, assisting with:
As per Part 7.4, Appendix X, Isle of Man Immigration Rules - To be eligible for the Isle of Man Innovator Visa, you must have a minimum investment of £50,000 in your business. The Start-Up Visa does not require any financial investment.
Part 7.1(3)(c), Appendix X, Isle of Man Immigration Rules, states that the investment funds for the Isle of Man Innovator Visa may include funds that have already been invested in the business within the previous 12 months. Migrant Endorsement Policy, paragraph 6.11 states that the investment funds must be retained in a regulated financial institution and be available in the Isle of Man.
The investment funds can be used for a variety of purposes, including:
According to the Migrant Endorsement Policy Paragraph 6.12, if you're using your own funds, you will need to demonstrate that you have held them for at least two years.
Part 7.3(2), Appendix X Isle of Man Immigration Rules states that you will need to create employment through your business. So far, creating the jobs is concerned; for both visa routes, your business plan must show that your company will hire one permanent employee (in addition to yourself) on the Isle of Man within the first 12 months of the letter of endorsement's validity period. Aside from that, you will need to show (through your business plant) that you will hire at least three full-time permanent employees during the first 36 months of the period for which the letter of endorsement is issued.
According to Appendix X of the Isle of Man Immigration Rules, the Department for Enterprise is the Isle of Man's only endorsing body for the Business Migrant route and is in charge of granting the Letter of Endorsement that you'll need to support your visa application.
It is advised to visit the Department for Enterprise's webpage for more information and gain in-depth knowledge on how to obtain a Letter of Endorsement, along with the Department's Endorsement Policy.
How long does it take to obtain an innovator visa?
The earliest you can apply is three months prior to your departure date.
Here is an example
If you plan to travel on November 10, you can apply as early as August 11.
When applying from outside the Isle of Man and the United Kingdom, you should receive a decision on your visa within six weeks. This accounts for the time it takes UKVI to complete their processes and checks, refers the application to the Isle of Man Immigration Service for a decision, and then for UKVI to return the travel document with the vignette.
The cost of an Innovator visa varies depending on your situation and the location you're applying from.
|Who you're applying for||Apply (outside the IOM and UK)||Extend or switch (in the IOM or UK)|
|All dependants||£1,021 each person||£1,277 each person|
The healthcare surcharge is not required as part of your application.
This is only for those who are applying to the United Kingdom.
How long will you be able to stay?
If you go to the Isle of Man on an Innovator visa
When your visa is about to expire, you can apply for a three-year extension. There is no limit to how many times you can extend your subscription.
After three years on the Isle of Man, you may be eligible to apply for settlement (also known as "indefinite leave to remain").
If your endorsement is revoked
If the Department of Enterprise withdraws its endorsement, your visa may be shortened.
You must reapply with a new endorsement before your current visa expires if you want to stay longer.
What you are allowed to do at the Isle of Man and what you are not allowed to do
The first and foremost thing to be eligible for an Innovator Visa is a solid business plan. You must first have your business or business idea evaluated by the Department of Enterprise before applying.
If your business is financially feasible, they will write you an endorsement letter.
Aside from that, there are other requirements that you will need to meet to obtain the innovator visa. Here are the requirements:
Make sure you read the Isle of Man Immigration Rules to have in-depth knowledge and understanding about the specific requirements for the Innovator visa before you apply for it.
If you wish to start a new business,
You'll need at least £50,000 in investment funds in order to apply for an Innovator visa if you are planning to start a new business on the Island.
If you already have an established business that has been endorsed for an earlier visa, in this situation, you won't need any investment funds.
You can start your business all alone or form a team with other Innovator applicants. However, you won't be able to invest the same money. If you form a team, each Innovator applicant or team member must have £50,000 available in their accounts.
Here is an example:
If you have made a group with two other Innovator applicants, your entire team will need £150,000 to invest.
Before you apply, you must have had at least £945 in your bank account for 90 days. You can't rely on either of the following to get by:
English proficiency is required.
When you apply, you may be asked to demonstrate your command of the English language.
You can demonstrate your English proficiency in one of two ways:
If you've already proven your English proficiency at level B2 or higher in a previous successful application, you don't have to prove it again.
Documents that you must submit
When you apply, you must include a Letter of Endorsement from the Isle of Man Government's Department for Enterprise.
You must also provide:
Aside from that, you'll need a blank page in your passport for your visa.
Any documents that are in a different language other than English will require a certified translation.
Lastly, you may be required to provide additional documentation if your situation demands it.
The first step to applying for an innovator visa is to apply for an Innovator visa entry clearance. For that, you will need to visit the UK Visas and Immigration website.
After that, you'll need to have your fingerprints and photograph taken at a visa application center as part of your application for a biometric residence permit. The Isle of Man does not issue biometric residence permits, so you will not need to apply for one.
You will then come to the BRP collection section of the UKVI's website, where you will need to use postcode SW1H 0AX when applying.
Find out how to have your visa application referred to Isle of Man Immigration more quickly, depending on which part of the world you live in.
Check to see if your visa application center provides expedited processing and other services.
Should you need any further information, please do not hesitate to contact us for quick support from our experts.