The Isle of Man

The Isle of Man is a British Crown Dependency situated in the Irish Sea at the centre of the British Isles. It is within one hour’s flight from London (London City, Gatwick and Stansted) and a 30-minute flight from Dublin.

The Isle of Man is not part of the United Kingdom or the European Union. It makes its own laws and has its own system of income taxation. The island is integrated, however, into the VAT area and Customs Union of the UK and EU, which makes the Isle of Man a VAT-efficient point of import into the EU for goods and high-value assets.

The island is part of the Common Travel Area, which also includes the UK, Ireland and the Channel Islands. There are no fixed immigration controls for travellers between these countries. Isle of Man nationals are British citizens under the British Nationality Act 1981.

The island’s advantages include:

  • Political and economic stability, with more than 1,000 years of continuous parliament (Tynwald)
  • over GBP1.3 billion in reserves
  • high credit rating from both Moody’s (Aa1) and Standard & Poor’s (AA+)
  • 30+ years of unbroken growth in GDP
  • Zero corporation tax for most companies, no capital taxes and access to tax treaties
  • English is the language of government and business
  • The pound sterling (GBP) is the currency used
  • In the same time zone as London and Dublin
  • On the OECD white list
  • Compliant with FATF AML, the Basel Core Principles for Effective Banking Supervision, Insurance Core Principles and the AIFMD criteria
  • Member of the International Organisation of Securities Commissions (IOSCO)
  • Legal system based on English common law following the doctrine of precedent
  • Developed and respectable international financial centre with a diversified economy and high quality of life
  • State of the art IT and telecommunications infrastructure
  • Diversified economy not reliant solely upon financial services

Key sectors of the Isle of Man economy include banking, fund administration, corporate and trust service provision and insurance; however, the island’s economy is more balanced than many small jurisdictions and also includes:

  • Manufacturing, including high technology sector;
  • Clean technology and biotechnology;
  • E-commerce and e-gaming;
  • Aircraft registration and space commerce;
  • Ship registration and management;
  • Film;
  • Agriculture; and
  • Speciality food production
12 Hope Street, Douglas, Isle of Man IM1 1AQ, British Isles