Hosting on the Isle of Man
The Offshore Advantage
The Isle of Man is a leading international offshore business centre,
which offers a unique combination of advantages for any company wishing
to establish itself, or any part of its operation, on the Island.
The Isle of Man Government is committed to working closely with the
private sector, especially on those legislative and regulatory issues,
which help businesses establish themsleves on the Island and trade with
the world.
The Isle of Man’s internationally accredited financial regulation, and
effective consumer and data protection, provides businesses and their
customers with a considerable degree of reassurance and confidence.
The Island has global ambitions and recognises that a world class
telecommunications capability is integral to achieving those ambitions.
The Island's geographical position in the Northern European time zone
places it optimally for companies with global operations in a number of
hemispheres.
Stability
The Isle of Man is one of the most highly regarded and well regulated
offshore centres in the world. Geographically at the heart of the
British Isles, and close to the European mainland, the Island is
politically independent, with the freedom to create its own policy and
legislation. The Island enjoys an "AAA" credit rating from leading
credit agencies, Standard & Poor's and Moodys and is a Tier 1 regulated
jurisdiction, with legal and legislative practice and culture based on
UK standards and principles.
Taxation
The Isle of Man has one of the simplest and most pro-business tax regimes in the world.There is no capital taxation at all in the Isle of Man. Resident individuals and companies pay no wealth, inheritance, gift, or capital gains taxes.
Corporate Taxation
The Island’s keenness to attract e-commerce business is reflected in a corporate taxation regime specifically designed to attract inward investment.
- Benefits include
- Zero rate corporate tax
- No Capital Gains Tax
- Low sliding scale betting and gaming duty
Personal Taxation
The Isle of Man has one of the most attractive personal tax regimes in the world, creating a very advantageous fiscal environment in which to live.
- Personal allowances are among the highest in Europe.
- Tax rates are low, with a personal tax cap at �£100,000 per annum.
- Mortgage and loan interest payments, contributions to personal pension arrangements, and the costs of private medical insurance are, in the main tax, deductable.
- Anyone entitled to live in the UK or EU can relocate to the Isle of Man, there are no fiscal entry requirements before tax residence.
- Relief from double taxation is also available where foreign tax
has been paid.
Support
The Isle of Man Government’s Financial Assistance Scheme is designed to encourage existing businesses to adopt new technologies and practices, and help new businesses establish themselves and flourish on the Island. Companies can qualify for generous annual government funding of up to 40% for:
- Relocation
- Manufacturing / IT sector buildings / offices
- Hardware, software purchase and leasing
- Maintenance
- Marketing
- Consultancy
The IOM, UK & EU
The Isle of Man has a special relationship with the EU, but is
subject to less regulation. This relationship allows free movement of
industrial and agricultural goods traded between the Island and the EU.
Under this special arrangement, the Island neither contributes to, nor
receives from the funds of the European Union. Very little EU
legislation is directly applicable to the Isle of Man, except in respect
of agricultural products and customs matters. The relationship with the
UK provides administrative simplicity for Isle of Man-based businesses
selling into the UK and EU.
Regulation
The Isle of Man Government works closely with the private sector to
develop legislation which helps businesses gain a competitive advantage.
It was one of the first jurisdictions in the world to introduce
legislation specifically designed to benefit eBusiness and eGaming
firms, and has developed a regulatory regime specifically designed to
support and protect such companies and their customers. This regulatory
framework continues to develop and be responsive to the sector’s needs.
Quality of life
Quality of life on the Island is high. Attractions include affordable
high quality residential accommodation, with no restrictions on buying
property for those not indigenous to the Island, a distinctive Manx
cultural heritage, diverse scenic beauty, low crime rates, excellent
schools and medical facilities, plus the opportunity to take part in the
widest possible range of sports and leisure activities. There are also
excellent hotel and conference venues. At a time when other offshore
jurisdictions have become overcrowded and expensive, the Isle of Man can
offer affordable high-quality commercial and residential accommodation
in a spacious and scenic environment – the Island provides room for
businesses, people, and families to grow
Getting to the IOM
The Island has excellent air and ferry services. Direct flights regularly serve four London airports, and most major cities in the UK and Ireland, are within an hour’s flight. There are also regular ferry services to and from the UK and Ireland.
NOTES
Why the Isle of Man?
- Legal system based on English Common Law
- Credibility of being a Crown Dependency of the UK
- Ideal jurisdiction from which to launch an AIM or FTSE stock market listing
- UK White Listed in 2007
Taxation
- Zero rate of Tax on Taxable Income (except for banks and property companies
- One of the most attractive tax regimes for gambling or e-gaming in the world
- No Capital Gains Tax, Inheritance or other wealth taxes
- Personal Taxation - 10% standard rate, 18% higher rate
- Low betting and gaming duty
Grants:
Annual Government funding of up to 40% for:
- Relocation
- Manufacturing/ IT sector buildings/ offices
- Hardware & software
- Marketing & consultancy
- Quality & environmental standards
- Annual Government funding of up to 50% for
- Training Grants applied for on an annual basis
Infrastructure:
- World Class telecommunications infrastructure
- Two self-healing fibre rings - always on connectivity
- 1.2 tera bits capacity 0.02% utilisation
- Anti-DDOS attack technology
- Free ADSL connectivity for businesses
- Excellent Air and Sea links to the UK and Ireland
- Totally self sufficient power station
infrastructure, supported by sub-sea gas and electricity
supplies when needed
Support Services:
- Over 33,000 Financial Institutions registered on the island
- Legal and accountancy expertise from the world's leading firms and gambling /e-gaming specialists
- Excellent on-Island support service providers in Hosting, IT and Digital Media
- Recruitment, and office relocation specialists
- Highly literate IT workforce, conforms to international IT standards
