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Tier 1 – Entrepreneur

Tier 1 (Entrepreneur)

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.

How long you can stay

You can come to the Isle of Man with a Tier 1 (Entrepreneur) visa for a maximum of 3 years and 4 months.

You can apply to extend this visa for another:

  • 2 years if you’re already in this category
  • 3 years if you’re switching to it from another category

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

What you can and can’t do

You can:

  • set up or take over the running of one business or more
  • work for your business, including being self-employed, but you should check your work meets the conditions of being self-employed
  • bring family members with you

You can’t:

  • do any work outside your business, for example work where you’re employed by another business
  • get public funds

Funds

You must have access to at least £200,000 investment funds to apply for a Tier 1 (Entrepreneur) visa.

Your funds must be:

  • held in one or more regulated financial institutions
  • free to spend (‘disposable’) on business in the Isle of Man

You may also apply under this route if you have £50,000 which has been provided from

  • one or more registered venture capital firm regulated by the Financial Services Authority

  • one or more Entrepreneurial Seed Funding Competitions which is listed as endorsed by the Department of Economic Development or

  • one or more Isle of Man Government Departments and made available by the department(s) for the specific purpose of establishing or expanding an Isle of Man business

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.

You must also:

  • meet the English language requirement
  • be able to support yourself during your stay
  • score 95 points - check your points score
  • be at least 16 years old

Sharing investment funds

You can form an ‘entrepreneurial team’ with one other Tier 1 (Entrepreneur) applicant and share the same investment funds.

You and your team member must meet all the requirements of the immigration rules and:

  • not use the same funds on another application with a different entrepreneurial team
  • provide all the documents needed for evidence of the funds with your own applications.

The Isle of Man Immigration Service cannot provide Immigration advice as this would compromise our positions as regulators when assessing any application you may make.

 



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