Tier 1 Visa for Entrepreneur Visa

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Isle of Man
About
Requirements
Cost of Living
Expats

About

The Tier 1 (Entrepreneur) category of the Points Based System is for individuals investing in the Isle of Man by setting up or taking over, and being actively involved in the running of one or more businesses in the Isle of Man.

In order for you to make a successful initial or extension application within Tier 1 (Entrepreneur), you must score the required number of points.

The awarding of points will be conditional on you providing supporting evidence where appropriate.

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DURATION

40 months

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CITIZENSHIP

84 Month(s)

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FEES

1,620

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P. RESIDENCY

60 Month(s)

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COMPLEXITY

Low

Eligibility Requirements for Tier 1 Visa for Entrepreneur Visa

9 Eligibility Requirements

  • Applicant must have access to at least £200,000 investment funds to apply for a Tier 1 (Entrepreneur) visa.
  • Applicant funds must be held in one or more regulated financial institutions and free to spend (‘disposable’) on business in the Isle of Man.
  • Applicant may also apply under this route if he has £50,000 which has been provided from one or more registered venture capital firm regulated by the Financial Services Authority or Entrepreneurial Seed Funding Competitions which is listed as endorsed by the Department of Economic Development.
  • There are different eligibility requirements depending on whether you have access to £50,000 or to £200,000. You should satisfy yourself you meet the requirements of the immigration rules before making an application.
  • Applicant can form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant but can not use the same funds on another application with a different entrepreneurial team.
  • Applicant must meet the English language requirement.
  • Applicant must be able to support yourself during your stay.
  • Applicant must score 95 points - check your points score.
  • Applicant must be at least 16 years old.

Document Requirements for Tier 1 Visa for Entrepreneur Visa

6 Document Required

  • Letter from financial institution holding the money, confirming amount of money, that the institution is regulated by the home regulator and that the money is transferable to the Isle of Man.
  • Passports, Identity Card for Foreign Nationals and/or travel documents. Passports should have two clear pages back to back.
  • Police registration certificate.
  • Marriage or civil partnership certificate.
  • Birth certificate.
  • Driving licence.

Cost of living

Avarage cost of living in

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