Because, in the Isle of Man, you can have the best of both worlds - Our Low personal and business tax strategy, world beating technology ...
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Because, in the Isle of Man, you can have the best of both worlds Our Low personal and business tax strategy, world beating technology environment and an unparalleled quality of life makes the Isle of Man an ideal environment for fund management.
The Isle of Man is a land of opportunity, The International Financial services sector has
where people and business can reach their expanded over 40% in the last 6 years, contributing to
full potential. over 24 years of unbroken growth in the Island’s GDP.
We are small and changes can be made quickly Professional and scientific services account for 65%
and efficiently and with a population of only of the Island’s economy and we’re diversifying further.
80,000, one person can really make a difference. We have a flourishing and dynamic economy with
Politicians and regulators are accessible to significant e-commerce, film and space industries. The
all and work closely with business. Ideas are growth of our ship and yacht registry to become the
welcomed…and actioned. top flag in the world has provided a template
Because you can,,in a can-do Island
And yet the Isle of Man has space. Ten times the for the development of our aircraft registry which is
size of Guernsey and Cayman with some 227 set to emulate this success. And that diversification is
square miles of uncrowded and green spaces, creating exciting innovation with new expertise, new
navigated by 600 miles of open roads, it is far professionalism and new residents
larger than alternative locations.
Simply put, in today’s Isle of Man things get done.
It’s not just about physical space.
The Isle of Man gives you space to breathe,
space to think, and space to create. Here you
“It has the capacity and political will to enable both
really do have space to grow. existing and new businesses to expand and thrive”.
Things get done in the Isle of
with a growth rate of 8%, it’s“The reason we’re here, and more importantly,
the reason we remain here is the whole
offering – low tax, quality of life and a can do
approach to the economy by Government.”
Anderson Whamond –
Charlemagne Capital
Man. It’s a place where good business is easy to do. And
a place that is growing at three times the rate of Europe.Because you can.call the shots We’re nimble and agile and relatively free of bureaucracy, even legislative changes can be made quickly. You can make a The Isle of Man is a significant and successful jurisdiction in the dynamic global funds industry through our successful and growing funds administration business. For fund management, the Island now provides you with a unique angle and a compelling proposition. An Investment Manager or Fund Management company based onshore can establish a front and or middle office operation in the Isle of Man and qualify for zero corporation tax. “The Island has a zero rate corporate tax regime, a cap of 100K on personal income tax, a strong service provider infrastructure, inexpensive office rental. No restrictions on house purchase and work permits are a formality”. At the same time, onshore tax can be mitigated according to the proportion of your operations you move to the Island. Licensing under the Island’s regulatory system is an efficient process; particularly for organisations regulated by the FSA or an equivalent body. Office rentals are low (around £20 per square foot) and work permits are a formality for the specific areas of expertise that an Asset Manager requires. Relocation assistance is also available from the Government.
There aren’t any restrictions on house purchase,
difference. permits are not required and we do not have any
multiple tiered housing markets. House prices
compare favourably with the UK (particularly the
South East of England) and you can live in the
countryside and yet only be 10 minutes away
from the office.
Technology is available so that all aspects
of your operations including trade processing,
data management and client relationship
management can be delivered seamlessly
between your onshore and Isle of Man offices
and your service providers.
This proposition allows you to retain core
front-end investment activity onshore, while
reducing costs for your operational activities.
And if you do decide to locate all of your
business on the Island, including yourself,
low personal tax levels of 10 and 18 per cent
are an obvious attraction with a £100,000
personal tax cap. These initiatives, introduced
in April 2006, combined with an absence of
capital gains and inheritance taxes, make the
Isle of Man’s financial case compelling.
You can consider the Isle of Man a unique
proposition in the Asset Management world.
"Specific regulation has been passed to streamline and facilitate the
necessary investment business licenses required to operate and run
alternative fund management business on the Island. "
“Frankly the regulators in the Isle of Man have a better understanding of
the fund business than my experiences elsewhere”.
Andy Pegge – Laxey PartnersThe Isle of Man is a tremendously different place to that of 20 or 25 years ago when finance was in its infancy. Our independence has meant that we can weave our own path. New ideas and legislation have been introduced quickly, which means today’s Isle of Man is a place where businesses thrive and people prosper. Because you can go faster In 1985, average income per head was 55% of that of our UK neighbours. Today, it is 113%. In the Isle of Man, you can have it all. An unparalleled quality of life without having to compromise on your business aspirations and you will be richly rewarded for living on the Island once you get to know it.
“The professional infrastructure in the Isle of Man really understands
the fund industry. That’s a major advantage of being here.”
Lloyd Jones – Nedgroup Investments
Our independence has meant that we can weave our
own path. In the Isle of Man you can have it all.In the Isle of Man, we have an ideal
environment. Beautiful and peaceful yet still
connected to the wider world.
At the heart of the British Isles, almost
equidistant from England, Scotland, Wales
and Ireland, the Island is served by scheduled
flights in under an hour from some of the major
UK airports, and especially enjoys excellent
air connections to both London Gatwick and
London City airports with convenient flight times.
Because, in a centre of excellence, you can
So, the city, an hour away becomes a
discretionary pleasure rather than a
day-to-day grind. There is simply no better
place to come home to.
We see things differently. Like the idea of
government. Composed of individuals, not
parties and underpinned by a mandate of
cooperation instead of confrontation, our people
are independent thinkers who do their best and
pull together.
AAA rated by Standard & Poor’s,
It has resulted in an unparalleled working 6 consecutive years and with prof
relationship between the public and private
sectors. It is the way you always felt it should be.
It is no coincidence that we have had unbroken
growth for over 23 years, accelerating at three
times the speed of Europe and a secure AAA
Stable rating with Standard & Poor’s
and Moody’s.We have a heritage of bright ideas and
innovation. We had Europe’s first 3G telecom
network. We were the first nation in the world
to sign the Kyoto Protocol on climate change.
We lead the world in creating the path towards
space commerce and have the first commercial
satellite registry.
And our fresh thinking has also inspired
enterprising new approaches in world class
professional services, financial services,
legislation, taxation and business grant schemes.
Perhaps that’s why 90% of our supported new
business start-ups succeed.
Perhaps that’s why you should seriously consider
the Isle of Man as part of your strategy.
Moodys and Fitch, number one International Finance Centre for
ofessional services to match, excellence is not an optional extra.
“It’s easy to get here. That makes it so easy for clients to
perform due diligence. They can be in and out in a day”.
Ken Watterson - Tufton OceanicOn the Isle of Man, you can live the dream. The We have one of the finest education systems,
beach is never more than 15 minutes away. with a unique mandate; to provide children with
Want to watch the surf break while closing a the tools to become rounded, informed and
deal on the other side of the world? equipped individuals.
Because you can.flourish
In the Isle of Man, you don’t have to use your And you are surrounded by inspirational scenery
imagination for that of outstanding natural beauty. It’s no wonder we
rank at the top of locations polled by MORI.
People don’t feel the need to talk about
achieving a “work/life balance”, because it is a That’s why we say the Isle of Man gives you
natural benefit when you live here. freedom to flourish.
We take time to know our neighbours, our
colleagues and our customers. You won’t feel
the need to lock your doors. It’s a sophisticated
society with motivated people, where you can
make a difference.
"A lot of people wake up one day and find they simply can’t imagine living anywhere else”
Andy Pegge – Laxey PartnersImagine the gift of another hour a day for yourself. It’s the hour of your life the city takes from you. Every day. An hour to do what you please. Here you don’t have to imagine.
The Isle of Man is a land of possibility where people and business
will find the right environment in which to reach their full potential
Produced by Isle of Man Finance in association with Mainstream Financial Media & PR. 01624 678001.
Isle of Man Finance
2nd Floor
Illiam Dhone House
2 Circular Road
Douglas
Isle of Man IM1 1PG
Tel: +44 (0)1624 687597
E-mail: brian.donegan@isleofmanfinance.gov.im
Web: www.isleofmanfinance.gov.im www.isleofmanfunds.comYou can also read
