Introduction to Isle of Man Innovator Visa

 

The businessmen who want to set up their own business on the Isle of Man should apply for an Isle of Man Innovator visa. It allows them to establish a business on the island. Here, we will tell you so many things about this like the English eligibility criteria, fees, and the like. 

To apply for the Isle of Man Innovator Visa:

·      You desire for establishing or running a business in the Isle of Man.

·      You fulfill the other eligibility requirements.

·      The business or the idea of the business of yours has been endorsed by the Department for Enterprise of the Isle of Man Government.

You need to have a minimum of £50,000 in investment funds if wishing to set up a new business. If your business is already set or has been endorsed for an earlier visa, then you don’t need funds.

Eligibility criteria:

Before application, you must have your business or idea of business evaluated by the Department for Enterprise.

The authority will give you an endorsement letter if finding your business viable. Apart from that, you also need to:

1.    Fulfill the English language requirement (see below).  

2.    Be 18 years old, at least.

3.    Be capable of providing that you have sufficient personal savings to keep yourself when you are in the Isle of Man.

You must read the particular requirements for the Innovator visa in the Isle of Man Immigration roles before application.

Endorsement:

The Department of Enterprise is the only one endorsing organization in the Isle of Man for the Business Migrant route as prescribed in Appendix X of the Isle of Man immigration rules. Apart from that, it also bears the responsibility of issuing the Letter of Endorsement that you must have to support your visa application.

 

When can you get the Isle of Man immigration Visa?

You need to apply before 3 months of travel; it is the earliest period for application. Let’s take an example to clarify this point:

If you are planning to travel on 5 July, then you can apply from 6 April. You must have a decision on your visa within six weeks if applying from outside the Isle of Man and the UK. It considers the time required for UKVI to do their processes and checks and put the application before the Isle of Man immigration Service to have a decision and then for UKVI to return the travel document with the vignette.

Fees:

The amount of money you have to pay for the Isle of Man Innovator Visa is dependent on the situation you are in and where you are applying from:

 

For whom you are applying	Apply (outside the UK and IOM)	Extend or switch (in the UK or IOM)
You	£1,021	£1,277
All dependents	£1,021 each person	£1,277 each person

 

 

Requirements for English knowledge:

Generally, you need to prove your English language knowledge when you apply for the Isle of Man Innovator Visa unless you did it in a previous successful visa application. 

English Level:

You need to provide that you are capable of writing, reading, speaking, and understanding English to a level B2 on the Common European Framework of Reference for Languages (CEFR) scale.

The following are the ways by which you can prove your capability of English:

1.    If you pass a Secure English Language Test (SELT) from a recognized and approved provider.

2.    If you have a GCSE, A level. Scottish National Qualification level 4 or 5, Scottish Higher or Advanced Higher in English obtained using studying at a UK school that you started when you were below 18.

3.    If you possess a degree-level academic qualification that was taught the English language if studying abroad, you have to apply for confirmation using Ecctis (previously UK NARIC) that your qualification is equivalent to a UK bachelor’s degree, master’s degree, or Ph.D.