Isle of Man Innovator Visa
- Path to IoM Citizenship
- Minimum Investment £50,000
- No IHS (Immigration Health Surcharge)
- 0% Corporation Tax
- Minimum 5.5 Band IELTS Required
- PR for the Entire Family
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Isle of man
Building Business and Permanent Residency in One Visa
The Isle of Man Innovator Visa is initially aimed at experienced entrepreneurs who seek to set up or run an existing business outside their country. The visa, however, does not require the applicant to have a history of founding a company. The Isle of Man offers countless business opportunities, including world-class access to support, stable economy, and its strategic positioning for trade. Visa holders can easily transition to permanent residency alongside their family dependents.
You can apply for an Innovator visa if:
- You want to set up or run a business in the Isle of Man
- You meet the other eligibility requirements
- Your business or business idea has been endorsed by the Department for Enterprise of the Isle of Man Government
You must have at least £50,000 in investment funds if you want to set up a new business. You do not need funds if your business is already established and has been endorsed for an earlier visa.
Getting Endorsed
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. They are responsible for issuing the Letter of Endorsement you will need to support your visa application.
Application Timeline
You can apply up to 3 months before you travel You should get a decision within 6 weeks when applying from outside the Isle of Man and UK
Healthcare Surcharge
You do not need to pay the healthcare surcharge as part of your application. This is for those applying to the UK only.
Visa Duration
Initial stay: 3 years Extensions: Can apply for another 3 years when your visa expires No limit on the number of extensions Possibility to apply for settlement (indefinite leave to remain) after 3 years in the Isle of Man
What You Can and Can't Do
You can:
- Set up a business or several businesses
- Work for your business (as a director or self-employed partner)
- Bring family members with you
You cannot:
- Do any work outside your business
- Work as a doctor or dentist in training
- Work as a professional sportsperson
- Get public funds
Knowledge of English
You must prove your knowledge of English by either:
- Passing an approved English language test with at least CEFR level B2 in reading, writing, speaking and listening
- Having an academic qualification taught in English and recognized by ECCTIS as equivalent to a UK bachelor’s degree, master’s degree or PhD
Investment Funds
- £50,000 minimum for new businesses
- No investment funds required for established businesses endorsed for an earlier visa
- Investment funds cannot be shared between team members
What Are the Isle of Man Innovator Visa Requirements?
Applicants need to meet the following requirements to be eligible for the visa:
- Must be above 18 years of age.
- A credible business plan endorsed by the Isle of Man’s Department of Enterprise.
- A business plan demonstrating that the business will employ 1 full-time employee from the Isle of Man in the first year and about 3 full-time employees in the next 36 months with a letter of endorsement.
- £50,000 minimum investment.
- £950 minimum savings in bank account for over 90 consecutive days.
- Ability to communicate in English with at least a CEFR level B2 (IELTS 5.5 Band) in reading, writing, speaking, and listening.
Benefits of the Isle of Man Innovator Visa
- A supportive environment with access to networks, resources, and mentorship opportunities to help facilitate the growth of innovative businesses.
- No IHS (Immigration Health Surcharge).
- Applicants and families are granted residency rights to live and work in the jurisdiction whilst developing their business ventures.
- Route to British Citizenship after completing the residency period on the Island.
- The applicant's spouse and children can also live and work together.
- The island is part of the UK Common Travel Area, so traveling throughout the UK is no issue.
- Businesses pay 0% corporation tax, with added financial benefits. Ability to apply for a settlement, known as ‘Indefinite Leave to Remain’ (ILR), once you have been in the Isle of Man for 3 years.
- Ability to apply for another 3-year extension when the visa expires. The number of times you can extend is unlimited
Step-by-Step Journey with Legend Consults
Our Process
Legend Consults is a rising visa consultancy firm based in the UK that provides services to clients around the globe.
Submitting Visa Application
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In this step, we will submit your visa application, schedule the interview..
Ongoing Support
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Legend Consults will provide continued support even after you have successfully relocated to the Isle of Man . .
Looking for Isle of Man Innovator Visa? For details and assessment
Frequently Asked Questions
Yes, you can apply for the Innovator Visa if you have a successful track record in entrepreneurship. However, your proposed business venture in the Isle of Man should be innovative and have growth potential.
The Isle of Man government supports Innovator Visa holders through various initiatives, including access to networks, resources, and funding opportunities, to help facilitate the growth of innovative businesses in the jurisdiction.
Previous visa refusals may impact your eligibility for the Innovator Visa. You will need to share the previous case with Legend Consults so we can prepare comprehensive documentation to support your eligibility, which is essential.
There is no specific time limit for developing your business under the Innovator Visa. However, to maintain your visa status, you should demonstrate continuous progress and meet the performance criteria outlined by immigration authorities.
Bespoke Isle of Man Innovator Visa Consultancy and Processing
Legend Consults is an emerging team of Isle of Man innovator visa consultants, with a deep-seated dedication and passion to help businesses from around the world expand into new territories. Unlike other firms, we do not just throw your papers straight into visa processing; we help assess and refine your business ideas, too!
Expert Guidance
We stay updated with changes in the Isle of Man immigration laws, so you have the assurance your visa processing is legally compliant in every step and that you get what we promise–a hundred percent Isle of Man innovator visa success rate!
Massive Network
We work directly with Isle of Man authorities to guarantee that every step is streamlined. Our wide network allows us to offer priority order service if you need the visa completed immediately.
Part of Legend Group
Legend Consults is part of Legend Group, a conglomerate of firms founded by a visionary and results-driven businessman. The firm bears the same core principles of knowledge, reliability, and excellence as its sister companies.
Service Transparency
From consultancy to visa completion, you can trust us to maintain transparency throughout the process, especially initial quotations and final pricing. You pay the amount as disclosed, with no hidden fees.
Ongoing Support
When your visa is secured, we remain committed toward helping your business. We provide continued support by proactively addressing any of your concerns after your successful immigration.
Business Marketing
Digital marketing will take your business to greater heights. Our sister company, Legend DigiTech, helps newly formed companies get on par with their competitors through the right marketing strategies.
