Isle of Man Business Migrant – Innovator Visa
The Isle of Man Business Migrant – Innovator Visa is one of the most popular routes for those wishing to move to the Island.
Who is the Innovator Visa for?
The Isle of Man Business Migrant – Innovator Visa is a popular route for individuals seeking to relocate to the island. It is intended to encourage entrepreneurs who are wealth creators to move to the Island – this visa provides opportunities for business-minded individuals wishing to relocate to establish and run their ventures on the Isle of Man.
Eligibility and Endorsement
To qualify for the Innovator visa, applicants must meet specific criteria:
- Have a desire to set up or manage a business in the Isle of Man.
- Fulfil other eligibility requirements, including English language proficiency and being at least 18 years old.
- Obtain endorsement from the Department for Enterprise of the Isle of Man Government. This endorsement serves as validation for the business or business idea and is necessary to support the visa application.
Investment Funds
For those planning to set up a new business or invest and participate in an existing business, a minimum investment of £50,000 is required.
Endorsement Process
The Isle of Man Department for Enterprise is the sole endorsing body for the Business Migrant route in the Isle of Man. They issue the crucial Letter of Endorsement, which supports the visa application. Detailed information about obtaining the Letter of Endorsement, including the Department’s Endorsement Policy, can be found on the Department for Enterprise’s webpage.
Visa Application and Processing Time
Applications can be made up to 3 months before the intended travel date. For those applying from outside the Isle of Man and the UK, a decision is typically made within 12 weeks. This timeframe includes the necessary processes and checks carried out by the UKVI and the Isle of Man Immigration Service.
Duration of Stay and Extensions
Upon approval, the initial Innovator visa allows a stay of 3 years. This visa can be extended for an additional 3 years when it is due to expire, with no limit on the number of extensions. After residing in the Isle of Man for 3 years, individuals may be eligible to apply for settlement, also known as ‘indefinite leave to remain.’
Responsibilities and Limitations
Holders of the Innovator visa have certain privileges and responsibilities:
- They can establish and operate one or multiple businesses.
- Working for their business is permitted, including employment as a director or self-employment as a member of a business partnership.
- Family members can also accompany the visa holder to the Isle of Man.
- Public funds are not accessible under this visa.
Conclusion
The Innovator visa provides an attractive pathway for individuals with entrepreneurial aspirations to establish and develop their businesses on the Isle of Man by establishing a qualifying business here.
Other conditions at a glance
Can my family members join me?
Yes
Is an English test required?
Yes
NHS Surcharge payable?
No – this does not apply in the Isle of Man.
Is a Criminal record certificate required?
No, a certificate is not required.
Can this path lead to Indefinite Leave to Remain / British citizenship?
Yes
