Isle of Man immigration legislation closely mirrors that of the UK but is not identical so local Isle of Man advice is recommended. The Isle of Man Government immigration information on their website is useful.
It is important to note that Immigration decisions are made locally by the Isle of Man immigration staff (i.e. independently of UK agencies) therefore immigration officers are able to take local Isle of Man specific factors into account when considering decisions.
Investor (Tier 1) Visa category is suitable for high net worth individuals from outside the EU who wish to reside in the Isle of Man / Common Travel Area and who have significant funds to invest.
The detailed requirements are set out in sections 245E – 245EF (pages 74-79) of the Isle of Man Immigration rules. It is a points based system with numerous variables but in summary…
The Investor must demonstrate that they have money of their own under their control held in a regulated financial institution and disposable in the Isle of Man amounting to not less than GBP2 million; and that they have opened an account with an Isle of Man regulated bank for the purposes of investing not less than GBP2 million in the Isle of Man.
The Tier 1 (Investor) Visa permits an initial stay of 3 years 4 months – which, subject to conditions can be extended – potentially leading to Indefinite Leave to Remain after 5 years and ultimately British citizenship.
Where an investment of GBP10m or GBP5m is made an application for Indefinite Leave to Remain can be made after just 2 years or 3 years respectively.
There is no English language requirement for this category of Visa.
Middleton Katz can assist with applications, including supporting documents. We can also help with setting up and administering the Investor’s Isle of Man Investments.
See our Isle of Man Immigration Overview for details about other categories of Visa.