There is a tremendous craze among businessmen all over the world for the Isle of Man Innovator visa. If you are one of those businessmen to run a business or set up a business in the Isle of Man, then read this blog. Here, we will tell you the necessary information related to this visa. We will tell you about the requirements you need to fulfill, the conditions under which you can apply for it, the English language eligibility criteria and the documents you need to submit when applying for this visa.
The following are the conditions under which you can apply for an Innovator visa:
· If you want to establish or run a business in the Isle of Man
· If you satisfy other eligibility requirements
· If the Department for Enterprise of the Isle of Man Government has endorsed your business or business idea
You must possess a minimum of £50,000 in investment funds if willing to establish a new business. You are not required to have funds if your business is already set and has been endorsed for an earlier visa.
Eligibility:
Before applying for the visa, you must have your business or business idea evaluated by the Department for Enterprise. You will get an endorsement letter from the authority if it finds your business viable. Besides that, you need to fulfill some criteria. Read below to know them.
The following are the Innovator visa requirements you need to meet:
· You have to fulfill the English language requirements.
· Your age should be a minimum of 18 years.
· It is a must for you to prove that you have sufficient personal savings to keep yourself when you are on the Isle of Man.
You must read the specific requirements for the innovator visa in the Isle of Man Immigration Rules or hire a specialist to know more about this before applying.
English language criteria you need to fulfill:
You must be required to prove your English language competency when you apply.
You can prove your competency by either:
· Passing an approved English language test with a minimum of CEFR level B2 in writing, reading, listening and speaking
· Possessing an academic qualification that was taught to you in English and is accepted or accredited by UK NARIC as being comparable to a UK bachelor’s degree, master’s degree, or PhD
You are not required to prove your English knowledge if you have already proved it to be level B2 or higher in an earlier successful application.
Documents you must provide for the Innovator visa application:
When applying, you are required to provide a Letter of Endorsement given by the Department for Enterprise of the Isle of Man Government.
You also need to give:
A current passport or other valid travel identification
Bank statements as proof that you have had a minimum of £945 in savings in your bank account for 90 consecutive days before applying (it is the proof that you have a sufficient amount of money to support yourself, and must be separated from the money you have in your investment fund)
Evidence that you fulfill the English language requirements
Your tuberculosis test results if coming from a country in which this test is compulsory to take.
Proof of your investment funds (if establishing a new business)
You must have a blank page in your passport for your visa.
You will be required to provide a certified translation of any documents that are not in English.
You may be required to provide extra documents that are dependent on the circumstances you had.
