The Isle of Man offers a specific visa route for entrepreneurs looking to establish a business in the region. This visa is particularly designed for individuals who have innovative, viable, and scalable business ideas. Below is a detailed overview of the key aspects of the Isle of Man Entrepreneur Visa.

Eligibility Requirements

To qualify for the Entrepreneur Visa, applicants must meet several criteria:

1. Age Requirement: Applicants must be at least 18 years old.
2. Business Idea Assessment: The applicant’s business idea must be assessed by an endorsing body, specifically the Department for Enterprise in the Isle of Man. This body will issue a Letter of Endorsement if the business idea is deemed viable.
3. Financial Requirements: Applicants need to demonstrate that they have sufficient personal savings to support themselves while residing in the Isle of Man. Specifically, they must show that they have held at least £945 in their bank account for 90 consecutive days prior to applying.
4. English Language Proficiency: Applicants must prove their knowledge of English, which can be demonstrated through various means such as passing an approved English language test or holding an academic qualification taught in English recognized by UK NARIC.
5. No Previous Violations: Applicants should not have any history of working illegally or breaching immigration conditions in the Isle of Man or UK.

Application Process

1. Obtaining Endorsement: Before applying for the visa, candidates must secure a Letter of Endorsement from the Department for Enterprise after their business idea has been evaluated.
2. Visa Application Submission: Once endorsed, applicants can submit their visa application online or via paper application forms, including all required documentation such as:

A current passport.

• Bank statements proving financial stability.
• Tuberculosis test results (if applicable).
• Proof of English language proficiency.
• The Letter of Endorsement.

Processing Time: The processing time for applications typically takes up to six weeks from submission when applying from outside the Isle of Man and UK.

Fees and Charges: While specific fees may vary, applicants should check with official resources regarding current visa application fees.

Duration and Conditions

• The Entrepreneur Visa allows successful applicants to stay in the Isle of Man for a period of 2 years and 4 months.
• Importantly, this visa cannot be extended; however, holders may apply to switch to another category such as the Innovator Visa if they wish to continue their entrepreneurial activities beyond this initial period.
• Holders are permitted to bring family members with them but cannot access public funds or work outside their established business ventures during their stay.

Withdrawal and Compliance

If an applicant’s endorsement is withdrawn by the Department for Enterprise due to non-compliance with visa conditions or other issues, it may lead to early termination of their visa status. Therefore, maintaining compliance with all requirements is crucial throughout their stay.

For more enquiries on a Isle of man entrepreneur visa, book a consultation with a consultant with e-lhr