Isle
of man
The Isle of Man is classified as a British Crown Dependency and had
fiscal and legislative autonomy from the United Kingdom. Indeed, the
Manx Parliament, Tynwald, is the oldest continuous parliament in the
world, being established in 979 AD by Norse Vikings.
The people of the Isle of Man, the Manx, are fiercely proud of their
Celtic and Norse ancestry and examples of this rich history are still
found throughout the Island today.
Indeed, the national Manx flag (above) is derived from the Island’s
Norse heritage.
The Isle of Man enjoys a central location in the British Isles,
and has a rich and colourful history in seafaring. Click
here for a brief summary of this history.
The Isle of Man Today
The Isle of Man is an established, well regulated and competitive
player in the global offshore industry, being a major player in
the banking, insurance, e-commerce, space and shipping industries.
The financial and professional support services are of the highest
standard and the Island can draw on its well educated, motivated
workforce and its modern communications and stable social
infrastructure.
Taxation
A major draw for business to the Isle of Man is the favourable tax
regime in operation.
Of primary interest here is that Isle of Man Registered Companies are currently charged taxation at 0% on their taxable profits.
The regime for individuals is also favourable in comparison to most
EU jurisdictions, the standard rate of Income Tax being 10%, and
the higher rate currently set at 18%. Further to this there are
no taxes on capital gains, nor are there any taxes on death.
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