Isle of ManStarting a business
Explore the five recorded questions, answers and sources for this pathway.
This route is for a person who wants to set up or run a business in the Isle of Man.
You can apply for an Innovator visa if: You want to set up or run a business in the Isle of Man
The business or business idea must be assessed and endorsed by the Isle of Man Department for Enterprise, which provides an endorsement letter if the business is viable; the Letter of Endorsement must be provided with the application.
Your business or business idea has been endorsed by the Department for Enterprise of the Isle of Man Government
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.
When you apply you need to provide a Letter of Endorsement issued by the Department for Enterprise of the Isle of Man Government.
A new business normally requires at least £50,000 in investment funds to apply for an Innovator visa. An already established business does not need those funds if it was endorsed for an earlier visa.
You must have at least £50,000 in investment funds to apply for an Innovator visa if you want to set up a new business.
You do not need any investment funds if your business is already established and has been endorsed for an earlier visa.
The holder may set up one or several businesses, work for the business (including as an employed director or a self-employed member of a business partnership) and bring family members. The holder cannot do any work outside the business, work as a doctor or dentist in training, work as a professional sportsperson (e.g. sports coach), or get public funds.
You can: Set up a business or several businesses Work for your business - this includes being employed as a director, or self-employed as a member of a business partnership Bring family members with you
You cannot: Do any work outside your business, for example work where you’re employed by another business Work as a doctor or dentist in training Work as a professional sportsperson, for example a sports coach Get public funds
The visa lasts 3 years on first grant. It can be extended for another 3 years when due to expire, with no stated limit on the number of extensions. Settlement (indefinite leave to remain) may be applied for once the holder has been in the Isle of Man for 3 years.
You can stay for 3 years if you:
You can apply to extend for another 3 years when your visa is due to expire. There’s 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 in the Isle of Man for 3 years.
These are the answers currently recorded in the catalogue. A missing or partial answer is not an eligibility decision.
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Not legal advice. No eligibility verdict or ranking. Check the linked sources before applying.