Isle of Man

Isle of Man: Business Migrant - Innovator Visa

Please see the UK section in terms of Benefits. In addition:

A successful applicant and his/her family are entitled to receive British Citizenship if all of the relevant conditions are met. Subsequently an application can be made for a British passport.

With regards to taxation, residents will benefit from a personal allowance of £14,500, a lower rate of tax at 10% on the first £8,500 and a standard rate of tax at 20% on all income thereafter. Income Tax can be capped at £200,000, subject to an irrevocable election. You can add these allowances together in the case of joint assessment. Other headline rates include 0% Inheritance Tax, 0% Capital Gains Tax and 0% Corporate Tax.

There is no restriction on purchasing property in the Isle of Man and there is a single housing market.

To find out about living on the Isle of Man, please click here.There is no restriction on purchasing property in the Isle of Man and there is a single housing market.

Isle of Man: Business Migrant - Innovator Visa

The Business Migrant – Innovator Visa allows non-island residents to move to the Isle of Man to establish a business/businesses, either on their own or with their family. A successful applicant will be able to be employed by their own business, but cannot work for another Isle of Man employer

You can apply for an Innovator visa if:

• you want to set up or run a business in the Isle of Man;
• you meet the other eligibility requirements;
• your business or business idea has been endorsed by the Department for Enterprise of the Isle of Man Government.

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.

Under this visa you can stay for up to 3 years. You can apply to extend for a further 3 years and there is no limit on the number of times you can extend.

You may be able to apply for indefinite leave to remain once you’ve been in the Isle of Man for 3 years.

The cost of applying is currently £1,021 per applicant.

You can find out more here.

Isle of Man: Business Migrant - Innovator Visa

Please see the UK section.

Isle of Man: Business Migrant – Start Up Visa

Please see the IOM Business Migrant- Innovator visa in terms of Benefits. In addition:

To find out about living on the Isle of Man, please click here.

Isle of Man: Business Migrant – Start Up Visa

The Business Migrant – Start Up Visa is designed for those seeking to start a business, whilst being able to work for an Isle of Man employer. This route also allows the applicant to bring family members.

You can apply for an Start Up Visa if:

• you want to set up or run a business in the Isle of Man;
• you meet the other eligibility requirements;
• your business idea has been endorsed by the Department for Enterprise of the Isle of Man Government.

Under this visa, you can stay in the Isle of Man for 2 years 4 months. You cannot extend this visa, only re-apply, or apply to switch visa categories. Your visa may be cut short if your endorsement from the Department of Enterprise is withdrawn.

The cost of applying is currently £363 per applicant.

You can find out more here.

Isle of Man: Business Migrant – Start Up Visa

Please see the UK section.