Corporate Benefits
The Isle of Man offers a stable and secure jurisdiction, which is open, transparent and compliant with international standards.
The Government is supportive, approachable and facilitates a first-rate environment in which your maritime business can thrive. High quality, robust regulation and a pragmatic approach to supporting business means the Island is perfectly placed to meet and exceed the needs of your business within a diverse economy.
The benefits of locating your business on the Isle of Man include:
- Superb quality of life with optimate work/life balance
- Short commute times
- High standards of healthcare & education
- Low unemployment rates
- Crime rates amongst the lowest in Europe
- An internationally endorsed regulatory system
- For individuals – No capital gains tax, no inheritance tax, low rates of personal income tax
- For businesses – No corporation tax for most businesses, no capital gains tax, no withholding tax on dividends
- Geographically within the European time zone
- Frequent & reliable travel links by air & sea
- Strong IT & Telecommunications infrastructure
- Home to a highly skilled workforce
The Government offers:
- Financial assistance for relocation of employees / businesses
- No residency restrictions
- NI Holiday scheme for new resident employees
- Various funding and support schemes
The Isle of Man recognises that the most effective way to create a successful business environment is to engage with its stakeholders and form positive relationships with the private sector. – Isle of Man Department of Enterprise.
The Island’s diversified and adaptable economy that encompasses traditional sectors, such as financial services and manufacturing, to niche and emerging industries such as digital media and BioMed, has enabled the Isle of Man to enjoy many years of stable economic growth. The diverse business sectors are also supported by over 30 trade bodies and associations, all working together to promote the Island’s unique ethos to an international and local audience.
Maritime Focus
Isle of Man Maritime is a cluster organisation of maritime focused members and has close ties with both the Isle of Man Government and Isle of Man Ship Registry. With a strong maritime history, and sizable maritime knowledge base, the Isle of Man is a sensible choice for maritime businesses looking to relocate or establish operations, joining the diverse maritime cluster covering many areas of maritime including but not limited to:
- Ship/Yacht ownership structures
- Crew employment and management
- Technical management
- Yacht management
- Marine insurance
- Financing
- Corporate services
- Legal services
- Maritime communications and IT
Individual Benefits
The Isle of Man is a UK Crown Dependency located in the heart of the British Isles and has a rich history dating back to before 6500 BC. It has its own democratically elected Parliament called Tynwald, which dates back more than 1,000 years to be the world’s oldest continuous parliament.
Lifestyle
The Isle of Man offers an excellent quality of life. Residents enjoy minimal commuting times, excellent standards in both healthcare and education, and some of the lowest personal tax rates in Europe. These factors combined with its stunning natural beauty, friendly, welcoming community and exceptionally low crime rate make the Island an ideal place for families to live and work. A HSBC Expat survey in 2019, rated the Island as the ‘Best Place to Live in the British Isles’.
86% – of residents say they have an excellent quality of life
14% – higher average annual salary on the Isle of Man than the UK
The Isle of Man is a leading international business/maritime centre renowned for its innovation, professionalism, and long-standing policy of positive engagement with international initiatives and standards.
The Isle of Man is home to a robust and vibrant ecosystem ready for you to explore. It is the only full jurisdiction in the world to be awarded UNESCO Biosphere status. With miles of pristine coastline and endless hiking trails, the Isle of Man always has something new to discover. The Island also prides itself on being a caring society and offers excellent standards in both health care and education.
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