The Representative of an Overseas Business visa route was closed by the U.K. in 2022 but is still available in the Isle of Man
The Representative of an Overseas Business visa route was closed by the United Kingdom in April 2022 but is still available in the Isle of Man and may be an attractive option for companies aiming to enter the country.
Businesses wishing to access the U.K. market as well as Europe can do so by placing a sole representative in the Isle of Man. For customs and value added tax purposes, the Isle of Man is considered a part of the U.K. which enables companies to import goods into the U.K. Besides, agriculture and manufactured products from the Isle of Man have free access to the European Union.
Applicants entering the Isle of Man through this route can also apply for Indefinite Leave to Remain after five years of residence, which allows permanent stay on the Island, and citizenship thereafter.
To qualify as a sole representative, an applicant must have been recruited outside the Isle of Man by the business, which must have its headquarters and principal place of activity outside the Isle of Man. The person must be a senior employee of the overseas business, which must have no active branch, subsidiary or other representative in the Isle of Man or the U.K. He or she must have full authority to take decisions for establishing and operating a registered branch or wholly owned subsidiary of the overseas company. The branch or subsidiary must be involved in the same type of business activity as the overseas business.
The Isle of Man, a British Crown dependency, is a 53 kilometres long and 22 kilometres wide island in the Irish Sea midway between Great Britain and Ireland. It is a low-tax jurisdiction with zero corporate tax and personal income tax capped at 20 percent. That compares with the U.K.’s highest personal income tax rate of 45 percent. The island has its own parliament, government and laws with the U.K. only responsible for its international relations.
An applicant for a representative of an Overseas Business must be the sole representative of the employer in the Isle of Man, be fully employed by the overseas business but must not be a majority shareholder in that overseas business. The person must supply products from his employer and must have the required ability with the English language.
If you are interested in incorporating a company in the Isle of Man or sending a representative to the Island please do get in touch with the Visa Kings Global team. We will answer all your queries.