Isle of Man Innovator Visa

Isle of Man 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 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:

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.

Visa Application and Processing Time

The Isle of Man Department for Enterprise is the sole endorsing body for the Business Migrant route in the Isle of Man. They will review applicants business proposals; which must be documented in a formal business plan with reference to their published endorsement policy.

The requirements set out within the endorsement policy are quite strict. For example:- 

  • The business plan must amongst other things, demonstrate that the business envisiges employing 1 full time permenent member of staff – not including the applicant – within the first 12 months following the approval of the plan, 
  • 2 further full time employees within 36 months of issue and 
  • the business proposal must, from an Isle of Man perspective, be ‘innovative’ to an acceptable degree.  

 

Once the business proposal is approved, the Department will issue the crucial Letter of Endorsement, which supports the visa application. 

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 Isle of Man Innovator visa have certain privileges and responsibilities:

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 – with some exceptions. 

NHS Surcharge payable?
No – this does not apply in the Isle of Man.

Does the visa confer rights to live in the UK?
Yes

Is a Criminal record certificate required?
No, a certificate is not required but convictions are required to be disclosed as part of the application process.

Can this path lead to Indefinite Leave to Remain / British citizenship?
Yes – subject to English language skills being demonstrated.

For a personalised, no cost, no obligation assessment of your Isle of Man immigration options - please complete our simple questionnaire; we will review it and revert to you by email