
Economic Overview & Business Opportunities
Located in the Irish Sea between Great Britain and Ireland, the Isle of Man is the self-governing British Crown dependency that is not part of the United Kingdom or European Union. The Isle of Man’s exceptional political and economic stability (as exemplified by a history of over 1000 years of continuous parliamentary government) has helped the country to gain traction as one of the investors-favoured countries for business.
Home to approximately 90,720 people, the Isle of Man is famous for its low taxes. Businesses on the island need to pay only 0% corporation tax, 0% stamp duty, and 0% capital gains tax. Financial services, manufacturing, and tourism form the major pillars of the economy of the Isle of Man. As a member of EU, the Isle of Man enjoys free access to EU markets – which has added a great deal of advantages to the island’s position as one of the investment hotspot.
On top of that, the Isle of Man is blessed with opportunities across many sectors and is well recognised as a hub for financial and professional services. Today, there are over around 200 manufacturing companies on the Island, ranging from food and drink producers to aerospace firms. The Isle of Man provides a business-friendly and a supportive ecosystem for entrepreneurs looking to start, grow, or relocate their business – from training and mentoring, to loan and equity investment.
Further to that, the Isle of Man is well known internationally as a low-tax economy with no capital gains tax, wealth tax, stamp duty, or inheritance tax; and a top rate of income tax of 20%. Personal income will be assessed and levied based on a total worldwide income basis rather than on a remittance basis. In other words, all income generated throughout the world is assessable for personal tax, rather than only income generated in or brought into the Island. In the Isle of Man, the standard rate of corporation tax for residents and non-residents is 0%. For retail business profits above £500,000 and banking business, income is taxed at 10%. Rental (or other) income from land and buildings located at the Isle of Man will be taxed at 20%.
Why Invest in The Isle of Man?
- Zero-rated corporation tax for Isle of Man companies
- Businesses need not pay capital gains tax, inheritance tax and a top rate of 20% for individuals
- Trusts with non-IOM resident settlors or beneficiaries will not be taxed
- Rapidly growing tax treaty network for the avoidance of double taxation
- State-of-art infrastructure in terms of banking, legal and accounting services
There are several tax-favoured countries across the globe, but none can beat the significant advantages offered by the Isle of Man as an offshore money centre. If you want to tap into the UK market or EU zone, the Isle of Man is the place to develop and expand your business.
Services Offered
- Isle of Man Company Setup
- Company formation and management
- Trusts
- Family Office
- Private Trust Companies