The Isle of Man is an internally self-governing British Crown dependency located in the Irish Sea between Great Britain and Ireland. The Island has been inhabited since before 6,500 B.C., and the Island’s Parliament, Tynwald, is the oldest continuously ruling body in the world. Tynwald has competence over all internal political matters, including taxation,
The Isle of Man is a low-tax jurisdiction, with a 0% corporation tax for most types of corporate income, and a maximum rate of 20% for income tax payable by individuals. There are no capital gains taxes, inheritance taxes, wealth taxes or stamp duties in the Isle of Man. The Isle of Man is one of the few offshore jurisdictions where individuals and business have the ability to register for VAT.
Although manufacturing and tourism play a significant role in the economy of the Isle of Man, the Island is known internationally as a leading offshore financial centre, with flourishing business sectors encompassing banking, insurance, financial services and investment funds. The Island has also developed into a leading jurisdiction for e-gaming, space commerce and for the registration of private jets and super yachts.
Domestic stability, a robust regulatory framework and a willingness not only to adapt to developments in international politics but also in many areas, such as international taxation, to lead the way in establishing best standards, have helped the Isle of Man to achieve its reputation as a place where clients are confident to do business. The Isle of Man is on the OECD “whitelist” of offshore jurisdictions, its economy has over two decades of unbroken growth and it has a Standard and Poor’s credit rating of AA+.