About the Isle of Man

The Isle of Man is one of the world's leading International Financial Centres' with an enviable reputation for well-regulated financial services and a wide availability of professional providers such as banks, building societies, investment management and hedge fund companies, insurance and fund administrators, lawyers and trust & company service providers.

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The Isle of Man is an internally self-governing dependent territory of the Crown that is not part of the United Kingdom. The Island has a special relationship with the European Union set out in Protocol 3 to the United Kingdom's Treaty of Accession. Tynwald, the island's 1000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. Both individuals and companies who are resident in the Isle of Man for income tax purposes enjoy complete independence from the United Kingdom on matters of direct taxation. The Island's taxation system is quite separate from that of its neighbour.

Located in the centre of the British Isles, in the Irish Sea, the Isle of Man is 33 miles (52 Kilometres) wide. Offshore financial services, manufacturing and tourism are key sectors of the Island's economy. Financial services now contribute about 47% to the Manx gross national product. The Isle of Man also enjoys free access to European Union markets. The Island's population is around 80,000.

Companies and other forms of business organisation established under the laws of the Isle of Man have been widely used internationally. It is arguable that the Isle of Man has the most sophisticated law relating to forms of business organisation of any International Financial Centre for 'Offshore' work, and is among the leading jurisdictions in the world in this respect.

Why choose the Isle of Man?

There are a number of excellent reasons for choosing the Isle of Man as the jurisdiction of choice for your offshore business needs:

  • Variety of tailored-use structures available, including private companies limited by shares or limited by guarantee, hybrid companies (limited by shares and guarantee), limited liability companies, protected cell companies, purpose trusts, limited liability partnerships and partnerships
  • Reputation: the Isle of Man has an excellent reputation amongst International Financial Centres
  • Stability: AA1 credit rating from Moodys with the world's oldest continuous Parliament, Tynwald, which was established over 1,000 years ago.
  • Regulation: robust regulation of financial services with powerful endorsement from the UK Government's Edwards Report of the financial regulation in the Crown Dependencies
  • Common law jurisdiction with modern and flexible company and trust legislation
  • Corporate Taxation: from 6 April 2006 the Isle of Man Treasury introduced a 0/10% tax policy on corporate profits. Essentially most types of corporate profit are now taxed at 0% (some income derived from banking business and income derived from Isle of Man sited land or property is taxed at 10%). This has the effect of making the Isle of Man a 'tax-neutral' jurisdiction for most non-Isle of Man derived income
  • Availability of the highest quality fiduciary service providers backed by associated professionals such as lawyers, accountants and fund managers with specialised offshore experience
  • A facilitative approach to new business areas which has led to the Isle of Man becoming a major player in the online gaming and the space industry and to the development of aircraft and yacht registries
  • Proven jurisdiction for listings onto the London capital markets. The Isle of Man is by far the largest jurisdiction of incorporation of non-UK companies listing onto the London Stock Exchange Alternative Investment Market (AIM). Total market capitalisation of Isle of Man incorporated AIM listed companies is over £6.2 billion; more than the entire market capitalisation of the next 3 largest non-UK listed jurisdictions, Canada, British Virgin Islands and Australia
  • Established base for structured finance and securitisation vehicles
  • Presence of the major banking and life insurance companies
  • Position of the Isle of Man on the same time zone as the United Kingdom and only an hour's flight from the City of London
  • Excellent communications links, including advanced telecommunications technology