Tier 1 Entrepreneur Route
Requirements in Summary
A £200,000 investment in an Isle of Man trading company (partner can provide funds or they can be borrowed). The trading company can be established by the applicant or it can be an existing business.
The company must have a registered office, a bank account and pay taxes in the Isle of Man.
The applicant must not be absent from the Isle of Man for more than 180 days in any 12 month period.
The initial period of residence is for up to 3 years and 4 months.
Extension to Visa
An application to extend the visa for another two years can be made to the Isle of Man Immigration Office, provided that:
- At least £200,000 has been invested in one or more Isle of Man businesses.
- The applicant is self-employed or a registered director of an Isle of Man business.
- At least two full time jobs, each existing for more than 12 months, have been created.
Application for Indefinite Leave to Remain (ILR)
An applicant must have been in the Isle of Man for 5 years and cannot have been absent from the Isle of Man for more than 180 days in any 12 month period.
Accelerated Leave to Remain (ILR)
An application can be made if:
- 10 or more jobs have been created or a business income of at least £5m has been generated within the 3 year period
- An Isle of Man business has been taken over or invested in and net income has increased by £5m within the 3 year period.