Isle of Man Finance

The Isle of Man is an established international finance centre, with a secure base built on political stability, low taxation and a firmly established fiscal and regulatory environment independent of the UK. In relation to providing international services it is fully supported by a modern infrastructure.

It is one of the few international finance centres where Government’s objectives for economic growth are matched by the physical space and labour resources needed to sustain them.

In addition to the introduction of new investment and taxation vehicles designed to maintain and develop the Island’s status as one of the premier offshore locations, the Isle of Man Government was the first international business centre in close proximity to the UK to introduce zero rate business tax strategy.

The Isle of Man economy is currently in its twenty fifth consecutive year of growth. The period since the mid-90’s witnessed a particularly impressive economic performance with real growth averaging almost 10% p.a. between 1997 and 2002 and although there followed a minor slowdown, the economy is currently back up to a growth rate estimated to be of around 8%p.a .

The key sectors in generating this performance have been financial services (this sector has grown by around two-thirds in the last six years) and professional services (growth of 50%). Banking generates typically around one fifth of the Island’s gross domestic product, with the rest of the finance industry adding another 15 to 20%.

Financial Services Sector

The financial services sector consists of banking, fund management and administration, captive and life insurance and fiduciary services including corporate and trust provisions. It has experienced staff trained to offer a full range of financial services, ranging from simple banking products to sophisticated corporate structures. These services include:

Why the Isle of Man?

The principal benefits for managing or locating financial services on the Isle of Man are:

• Reputation
• Proactive & collaborative regulatory regime
• Capacity for sustaining growth and the lowest population density in Europe
• Low operating cost environment
  • A policy of low taxation both for individuals and companies
  • A zero rate of corporation tax established in April 2006
  • A scheme of financial assistance for financial services companies looking to establish an operation on the Island
• Space to grow
  • No restrictions on new residents and the Island has an open property market with no restrictions or qualifications limiting property acquisition
• Modern dynamic state-of-the-art digital telecommunications systems

Who else is here?

The Isle of Man is a world-class international business and finance centre with some of the world’s leading financial services companies based here, With excellent communications, central UK location and a wealth of expertise is never been a better time to do business in the Isle of Man.

Here are just a few of the hundreds of financial services businesses who are doing business in the Isle of Man: