The Isle of Man

The Isle of Man is widely recognised as a centre of excellence for the provision of a wide range of offshore financial services and offers an unrivalled portfolio of benefits.

A self governing British Crown dependency, the Island's 1,000 year old Parliament, Tynwald, makes its own laws and oversees all internal administration, fiscal and social policies.

In 2007, Standard and Poor's re-affirmed the Island's "AAA" rating. In its report, Standard and Poor's refer to the Island's "very strong credit standing" and noted that the Isle of Man has outperformed other "AAA" jurisdictions such as Singapore, Bermuda, Luxembourg and the United Kingdom in respect of its growth during the last five years.

The Isle of Man won the 'Best International Financial Centre' Award at the 9th annual International Investment Fund & Product Awards 2008. This is the 7th time the Isle of Man has won the 'Best International Finance Centre' category at the annual International Investment awards, adjudicated by an independent panel of life and investment experts.

The Island has its own taxation system and Customs & Excise services.

The Island's trust legislation is based on the English law of equity and provides unique security and continuity for the establishment and management of trusts.

The Isle of Man Government also has a proactive, innovative and service-driven approach to business. In the last few years, it has introduced progressive taxation and legislation, including a zero rate tax for companies, tax capping of personal tax liabilities and the innovative 2006 Companies Act, which introduced a new streamlined and flexible corporate vehicle.

Licensing and Regulation
The Island has an exemplary approach to regulation and was the first offshore jurisdiction to introduce legislation and formal licensing of all Corporate Service Providers (CSP) by the Financial Supervision Commission. In addition, legislation was introduced for Trust Service Providers (TSP) which mirrored the legislation for CSPs.

This ground breaking legislation aims to protect anyone engaging the services of a CSP and TSP based on the Island by imposing standards of "fitness and properness" and by requiring all corporate service providers to conduct their business to the highest standards. Equiom Trust Company was one of the first companies to secure a CSP and TSP Licence.

Confidentiality of Ownership
The beneficial ownership of a company is not disclosed to Isle of Man authorities, on incorporation. The use of nominee shareholders is permissible and provides ongoing confidentiality.

Beneficial Taxation Arrangements
Isle of Man companies with non-Isle of Man beneficial ownership and whose activities take place outside the Isle of Man are subject to income tax at 0%.

No Inheritance Tax, Capital Gains Tax, or Stamp Duty
These do not exist on the Isle of Man. Also, where none of the beneficiaries are resident on the Island, there is no income tax charge in the Isle of Man.

More Information
Find out more about the Isle of Man here