Tier 1 Investor & Entrepreneur Visa Applications

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UK Visa & Citizenship Applications

If you have ever considered trying to obtain British Citizenship, you may have found that it looks like a laborious and expensive process. Do you realise there is an alternative route through the Isle of Man?

The Isle of Man, with its 1000 year old Parliament (Tynwald), is a self-governing Crown Dependant island situated in the northern Irish Sea. Despite its closeness to the UK it is independent and makes its own laws and all internal administration, fiscal and social policies. It is an established and well respected international finance centre with political and fiscal stability and low taxation.

For more information on the Isle of Man, go to www.isleofman.com

There is a qualifying period of 5 years before British Citizenship can be obtained; however a person must have held Indefinite Leave to Remain (ILR) status for at least 12 months prior to submitting an application for citizenship, in other words if a person acquires ILR to stay in the Isle of Man after 5 years, he would have to wait a further 12 months before making an application for citizenship. There is an accelerated route, and we provide details of this below.

Once an application is successful (approximately 6 months) a person would attend a British Citizenship ceremony and receive a certificate of naturalisation. The certificate would then allow a British passport to be applied for.

The Isle of Man (IOM) Government can offer a Tier 1 Entrepreneur Visa Route and a Tier 1 Investor Visa Route, both are a points based application.

Tier 1 Entrepreneur Visa - For any person setting up a business who wish to remain in the IOM

  • £200,000 is required to setup, takeover or run a trading company in the IOM (another partner can provide funds or this can be borrowed)
  • You must be able to support yourself in the IOM and evidence a minimum personal savings of £3,300;
  • An initial visa would be granted for 3 years 4 months;
  • The visa can be extended for 2 years provided that i) at least £200,000 has been invested in one or more IOM companies, ii) you must be self-employed or a registered director of the IOM business, and iii) at least 2 full time jobs must have been created for more than 12 months.

Indefinite Leave to Remain (ILR)
Can be applied for if:

  • You must have lawfully spend 5 years in the IOM; and
  • Not have been absent from the IOM for more than 180 days in any 12 months;
  • You must demonstrate sufficient knowledge of English and life in the UK and Islands.

Accelerated ILR
Can be applied for if:

  • 10 or more jobs have been created or business income of at least £5 million has been achieved within the 3 year period; or
  • An IOM business has been taken over or invested in and net income has increased by £5 million within the 3 year period.

Tier 1 Investor Visa – For any person wishing to remain in the IOM via qualifying investment

  • £2 million must be available for investment (within the first 3 months);
  • An initial visa would be granted for 3 years 4 months;
  • The visa can be extended for 2 years provided that i) £2 million has been invested in one or more IOM trading companies (other than companies principally engaged in property investment), ii) investments must have been made during the first 3 months of arriving in the IOM and the funds must have stayed invested throughout the full period of leave to remain.

Indefinite Leave to Remain (ILR)
Can be applied for if:

  • You must have lawfully spend 5 years in the IOM; and
  • Not have been absent from the IOM for more than 180 days in any 12 months;
  • You must demonstrate sufficient knowledge of English and life in the UK and Islands.

Accelerated ILR
Can be applied for if:

  • £5 million is invested instead of £2 million, an application for ILR is reduced to 3 years; or
  • £10 million is invested; an application for ILR is reduced to 2 years.

 

For additional information, please follow these links:
www.gov.im/immigration
http://www.whereyoucan.com/ibweb/res/pdf/Immigration%20factsheet.pdf

 

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Our team of professionals are available to assist with your Tier 1 Visa queries.

 

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