Isle of Man

About Isle Of Man Citizenship and Residency

Investors who relocate here for business purposes may also be interested in obtaining Isle of Man residency after having spent some time on the island. You will be considered to be resident in the Isle of Man if you are present in the Isle of Man for at least 183 days in a tax year. The tax year in the Isle of Man ends on 5 April (as in the UK).

However, you will be considered an Isle of Man resident from the date you arrive in the Isle of Man if you intend to permanently reside in the Isle of Man at the date you arrive. Alternatively, if as a visitor you spend on average more than 90 days in the Isle of Man over the previous 4 tax years you will be considered an Isle of Man tax resident from the start of the fifth tax year. 

Isle Of Man Residency by Investment

Investing in the Isle of Man can result in obtaining a visa for this purpose, in the case of non-EEA nationals who qualify. Entrepreneurs can choose to obtain Isle of Man citizenship first by applying to one of the Tier 1 visas or the Business Migrant visas and then observing the conditions to remain in the country for a minimum period.

Naturalization:

You may be eligible for naturalization if you’ve lived in the United Kingdom (UK) or Islands for five years or more and meet the English language requirement. Alternatively, if you are married to a British citizen and have lived in the UK or Islands for three years or more and meet the English language requirement, you may also be eligible.

Business Migrant Routes:

A. Business Migrant – Start-Up Visa

For this kind of visa, you can stay in the Isle of Man for 2 years and 4 months without any extension. You need to have at least £945 in your bank account for 90 consecutive days before you apply. Your visa may be cut short if your endorsement from the Department of Enterprise is withdrawn. If you want to stay longer, you must re-apply with a new endorsement before your current visa expires. You can only stay for a total of 2 years even if you’re granted a new visa with a new endorsement.

You cannot use either of the following to support yourself:

             a. money from your investment funds

             b. money earned while working in the Isle of Man or the UK illegally

Requirements:

Before you apply you need to have your business or business idea assessed by the Department for Enterprise.

 They will provide you with a Letter of Endorsement if your business is viable.

You can apply for a Start-up visa if:

• You are outside of the UK or Isle of Man; or
• Hold a valid Tier 1 (Graduate Entrepreneur) visa; or
• Hold a valid UK Tier 2 Migrant visa: or
• Hold a valid Isle of Man Worker Migrant visa; or
• Hold a visit visa that was granted specifically to enable you to visit as a prospective entrepreneur; or
• Hold a Tier 4 (General) Migrant visa (subject to certain conditions)
• Be at least 18 years old
• Be able to prove that you have enough personal savings to support yourself while you’re in the UK
• Knowledge of English:

         -You may need to prove your knowledge of the English language when you apply.

        -You can prove your knowledge of English by either:

1. passing an approved English language test with at least CEFR level B2 in reading, writing, speaking, and listening
2. having an academic qualification that was taught in English and is recognized by UK NARIC as being equivalent to a UK bachelor’s degree, master’s degree, or PhD

B. Business Migrant – Innovator Visa

This kind of visa is for those who are interested in Isle of Man residency by investment. 

You can apply for an Innovator visa if (1) you want to set up or run a business in the Isle of Man, (2) you meet the other eligibility requirements, and (3) your business or business idea has been endorsed by the Department for Enterprise of the Isle of Man Government. Also, 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. Minimum stay of 3 years with extension for another 3 years when your visa is due to expire. There is no limit on the number of times you can extend. You may be able to apply for settlement (known as ‘indefinite leave to remain’) once you’ve been on the Isle of Man for 3 years and you do not need any investment funds if your business is already established and has been endorsed for an earlier visa. Your visa may be cut short if your endorsement from the Department of Enterprise is withdrawn. If you want to stay longer, you must re-apply with a new endorsement before your current visa expires. 

To support yourself, you need to have had at least £945 in your bank account for 90 consecutive days before you apply.

You cannot use either of the following to support yourself:

• money from your investment funds
• money earned while working in the Isle of Man or the UK illegally

Requirements:

Before you apply you need to have your business or business idea assessed by the Department for Enterprise. 

They will provide you with an endorsement letter if your business is viable.

You must also:

• Meet the English language requirement
• Be at least 18 years old
• Be able to prove that you have enough personal savings to support yourself while you’re in the Isle of Man

You should read the specific requirements for the Innovator visa in the Isle of Man Immigration Rules before you apply.

Benefits of Business Migrant Visa:

• Bring family members with you
• Switch to this visa from some other visa categories
• Work in another job, as well as working for your business

Routes to Non-EEA nationals who wish to come and invest in the Isle of Man:

1. Tier 1 – Investor Migrants

    1. Tier 1 (Investor) route closed to new applicants

• The Isle of Man government has confirmed that its Tier 1 Investor Visa program has now been closed to new applicants.
• The visa was a route for high-net-worth individuals making a substantial financial investment to the island, with a minimum of £2m ($2.69m, €2.4m) in investment funds to apply.
• This allowed investors to stay for just over three years or to apply to settle after two or three years if they made more “significant local investments”.
• The Isle of Man government said in a statement on 23 February 2022: “The UK has closed their foreign investor route due to security concerns about the source of funds that have been used in some applications.

      

     2. Tier 1 (Investor) Migrants

• This route is for high-net-worth individuals making a substantial financial investment in the Isle of Man.
• You must have at least £2,000,000 in investment funds to apply for a Tier 1 (Investor) visa.
• You can come to the UK with a Tier 1 (Investor) visa for a maximum of 3 years and 4 months.

You can apply to extend this visa for another 2 years.

To qualify in this category you must:

• Be 18 or over to apply for this visa
• Have money of your own, under your control, held in a regulated financial institution, and which is disposable in the Isle of Man, amounting to not less than £2 million
• Have opened an account with the Isle of Man regulated bank to invest not less than £2 million in the Isle of Man

Benefits:

• work or study
• apply to settle after 2 years if you invest £10 million
• apply to settle after 3 years if you invest £5 million

2. Tier 1 (Entrepreneur)

The Tier 1 (Entrepreneur) category of the Points Based System is now closed to new applications.

If you already hold leave in this category, you can either:

• Apply to extend your leave as a Tier 1 (Entrepreneur); or
• Apply to switch to the Business Migrant route

For your application to extend your leave as a Tier 1 (Entrepreneur), you must meet the relevant requirements set out in the Isle of Man immigration rules and provide the specified evidence where appropriate.

You can apply to extend this visa for another 2 years if you reapply in this category.

You may be able to apply for settlement (known as ‘indefinite leave to remain’) once you have been in the Isle of Man or the UK for 5 years

3. Tier 1 (Graduate Entrepreneur) Migrants

The Tier 1 (Graduate Entrepreneur) category of the Points Based System is now closed to new applications.

If you already hold leave in this category, you can either:

• Apply to extend your leave as a Tier 1 (Graduate Entrepreneur) or
• Apply to switch to the Business Migrant route

For your application to extend your leave as a Tier 1 (Graduate Entrepreneur), you must meet the relevant requirements set out in the Isle of Man immigration rules and provide the specified evidence where appropriate.

Leave to remain will be granted for 1 year.

4. Tier 1 (Exceptional Talent) Migrants

This route is for exceptionally talented individuals in particular fields, who wish to work in the Isle of Man. These individuals are those who are already internationally recognized at the highest level as world leaders in their particular field, or who have already demonstrated exceptional promise and are likely to become world leaders in their particular area.

This immigration category is aimed at exceptionally talented people who wish to work in the Isle of Man in specific recognized fields of:

• arts
• humanities
• science
• engineering
• medicine
• digital technology

Benefits Of The Isle Of Man Residency By Investment Program

The benefits of the Isle of Man Residency are listed above in the “Isle of Man Residency by Investment” section

Isle Of Man Residency Requirements And Qualifications

The requirements and qualifications required to obtain Isle of Man residency or citizenship are listed above in the “Isle of Man Residency by Investment” section.

Steps And Timeline

STEP 1 – Contact the Isle of Man Department for Enterprise to discuss your business plan. 

STEP 2 – Apply 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). 

Our Services

Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:

• Find the best solution for your needs.
• Identify and deploy a strategy to help you accomplish your goals.
• Activate our network of people in the country where you need help without having you search for the best solution or lawyer. We only work with licensed people in every country whom we carefully vet and pass our guidelines and principles of privacy we stand for.
• Focus on cutting through the red tape and to expedite your process.
• Provide proper communication with you about your case.
  …. and above all: Offer you legal strategies to provide additional layers of privacy for your identity, while obtaining your residency or citizenship!

Privacy World can also help you with incorporating your company in the Isle of Man, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.

Want Privacy World to handle your case? Have any questions? Contact us!

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