Isle Of Man Innovation Visa

Isle Of Man Innovator Visa

Important to Note:

If the applicant is granted visa for the Isle of Man; he/she does not need a separate visa to visit one of the Crown Dependencies. There is no immigration control between the UK and the Crown Dependencies, nor between the three islands themselves.
However, if you wish to live and work/study in the UK, you would need to apply for a separate and applicable UK visa.
Means, the CTA (Common Travel Area) can only be used to travel between the UK and the Crown Dependencies. However, if any applicant wants to work study or live permanently in the other Island; he/she must apply and obtain the visa for the specific required route.
For those who have submitted a ‘leave to remain’ visa application within the UK (for an extension of stay or indefinite leave to remain), it’s useful to note that you can still travel within the Common Travel Area before a decision has been made.

Eligibility Criteria for Isle of Man Innovator Visa

This is for individuals who are seeking to establish, join or take over one or more businesses in the Isle of Man. Applicant is required to have an innovative, viable and scalable business idea.

Business Plan Innovation

Applicant must have an original business plan that meets new or existing needs and/or creates a competitive advantage.

Viability

Applicant must have, or be, developing the necessary skills, knowledge, experience and market awareness to successfully run the business.

Scalability

There must be evidence of structured planning and potential for job creation and growth into national markets.

Endorsement Letter

Department of Enterprise

The Department for Enterprise is the only endorsing body in the Isle of Man for the Business Migrant route as prescribed in Appendix X of the Isle of Man Immigration Rules and is responsible for issuing the Letter of Endorsement you will need to support your visa application
The applicant is required to present his/her business idea to the Department of Enterprise for the endorsement for the Innovator Visas; If the idea will be approved and accepted by the Endorsing body; they will issue endorsement letter to the applicant that required to be attached with the application to file the case.

Investment Funds:

  • Minimum of £50,000 to invest into the business

  • The investment funds must be held in a regulated financial institution and disposable in the Isle of Man

Team Application

This visa can be applied as the team of migrants with a business partner, however, each member of the team will be required to invest £50,000.
If the funds are owned by the applicant funds, he/she will need to prove that the funds are maintained for alteast two years.
However, if the funds If the Migrant has not held the funds for a minimum period of 2 years, the Migrant must provide additional evidence as to the source of funds and where such funds are derived from. The following sources may be considered as permissible:

  • A gift

  • Deeds of sale

  • A will

  • A divorce settlement

Job Creation

Applicant needs to demonstrate (through business plan) that business expects to employ 1 permanent employee on the Isle of Man (in addition to main applicant) within the first 12 months of period for which the letter of endorsement is issued.

Also to demonstrate that during the first 36 months of the period for which the letter of endorsement is issued that you will create an minimum of 3 full time permanent employees.

Maintenance

£945 for Main Applicant and £630 for each dependent.

Funds to be maintained for a consecutive period of no less than the 90 days before the date of application in the bank account of the main applicant or any dependent.

English Language

B2 level of English language ability.

Or Degree taught in UK, Channel Islands, or Isle of Man

Or Degree taught in English outside the UK attested/approved to the minimum to the UK’s Graduation by UK NARICS


SPONSORSHIP LICENSE OF THE PARENT COMPANY

Eligibility of Business to get the license

The Parent company has to apply for the Sponsorship License and then issue a certificate of sponsorship to their employee before the employee apply for this visa, below is the detail and procedure to obtain the Sponsorship License of the Parent company under the UK Global Expansion worker visa;

Sponsorship Management Role

To get a license as an employer, the parent company and the employer can’t have:

  • Unspent criminal convictions for immigration offences or certain other crimes, such as fraud or money laundering.

  • Had a sponsor license revoked in the last 12 months.

BENEFITS

  • Free Educations to the children under 16

  • Move with Family

  • Free travel to the UK, and the Channel Islands

  • ILR after Three Years

  • Naturalisation in the total period of 5 years


Application Process

STEP 1

Contact the Isle of Man Department for Enterprise to discuss your business plan. .

STEP 2

Submit an application for a letter of endorsement, along with the relevant supporting documents. The Isle of Man Department for Enterprise will determine whether your business plan meets the required criteria.

STEP 3

Should you pass the initial application stage, The Isle of Man Department for Enterprise will conduct a due diligence procedure on you and the source of funds and an assessment will be made of the business plans and/or investment proposals.

STEP 4

If the Isle of Man Department for Enterprise is satisfied they will issue you with a Letter of Endorsement.

STEP 5

Submit a visa application online, make the relevant payment and book an appointment at your local British embassy/consulate to submit your documents and provide your biometrics. Once, submitted a decision will be made on your application within 6 weeks (can be faster if you use the priority service).

DEPENDENTS

The Main Applicant is permitted to bring spouse or civil partner and any dependent children under the age of 18.

Maintenance Funds for Dependents

£630 in your bank account for each dependent.

180 Rule

Dependents will also have to abide by the 180 day rule for ILR. However, periods spent in the UK, Guernsey or Jersey will not count towards the 180 day limit.

Route to UK Citizenship

STEP 1

The Innovator Visa will be granted for an initial period of 3 years. After 3 years on the innovator visa you will qualify for ILR. In order to qualify you will need to: Have sufficient knowledge of the English language and pass the Life in UK and Isle of Man test.s Prove that you have spent a continuous period of 3 years in the Isle of Man. Have invested at least £50,000 into your business; and Have created roles for at least 3 full-time permanent employees (30 hours per week) on the Isle of Man that have existed for at least 12 months at the point of application (2 or more part time roles may be combined to equate to 1 full time role) (Part 7.6, Appendix X, Isle of Man Immigration Rules).

STEP 2

After a further 2 years on the Isle of Man you may apply for naturalisation as a British citizen. In order to apply for British Citizenship you must not have been absent from the UK (which is defined as including the Isle of Man) for more than 450 days in the preceding 5 year period and you must not be absent for more than 90 days in the preceding 12 months.

Travel to the UK

The UK, Channel Islands (which include Jersey), the Isle of Man and the Republic of Ireland collectively form the Common Travel Area (CTA). If you have been granted permission to enter Jersey, you will not require to apply for leave to enter another part of the CTA, you are therefore free to travel to the UK.

FEES

  • Application for entry clearance (Main Applicant): £1,021

  • Application for entry clearance (Dependents): £1,021

  • Application for extension (Main Applicant): £1,277

  • Application for extension (Dependents): £1,277

  • Priority Service: £220 (additional)

  • Super Priority Service: £800 (additional)

Important to Note

  • Holders of a valid visa for the UK or the Channel Islands can travel freely around the Common Travel Area without the need for applying for a specific visa for the Isle of Man.

  • Isle of Man Innovator Visa holder must establish and invest in Isle of Man to meet the eligibility for the ILR

  • The Holders of the visas (Main Applicant/Dependent) can stay in the UK or the channel islands but they must associate their all the matters related to the Tax, registration, insurance etc. with Isle of Man

  • The Main Applicant and Dependent must spend most of their times in the Isle of man to meet the requirement of 180 days for ILR