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News & Knowledge

The Isle of Man: A safe harbour

5th December 2016
Simon Kelly, Dixcart Management (IOM) Limited

There are a number of reasons why individuals and companies may wish to relocate to the Isle of Man. Traditionally the Isle of Man has been considered a low tax jurisdiction and whilst tax rates are competitive, there are other factors for relocating there. MSI's Isle of Man specialist member Dixcart Management (IOM) Limited highlights the relocation advantages for businesses and individuals.

Over the past three decades the Isle of Man has attracted a wide variety of international businesses and individuals, many of whom are still resident in the Isle of Man and have made it their head office and/or home.

Moody’s Investor Services Limited has recently (September 2016) released a statement stating that the Isle of Man is ‘more diverse and less volatile’ when compared to other offshore financial centres.  The latest report by the agency’s analyst, Stefan Triendl, points to a complete lack of direct national debt; an economic picture matched only by the Chinese territory of Macau.

The report also refers to figures released in September 2016, which show that island’s GDP grew by 5% last year – the thirty-second year of  growth.

Reasons that the Isle of Man is a popular location

Some of the original reasons for companies moving to the island were the low tax rates, and its tax neutral status in relation to Capital Gains Tax and Inheritance Tax.

  • Clusters of excellence on the Island (IT data hosting, Biomed, e-gaming, cleantech, and wealth management)
  • Innovation in IT sectors and a world class IT infrastructure
  • Secure infrastructure (power and travel)
  • Engaged Government which consistently innovates and offers a “can do” attitude
  • The ability to build alliances (business and private) quickly, assisted through a community spirit which has been lost in many cities
  • Educated, skilled and motivated employees
  • The work/life balance is fairer and not heavily compromised
  • The safety and security of the island (very low crime levels)
  • The ease of raising funds for private and public ventures
  • Travel and IT has improved to the point you can be based anywhere in the world
  • Low cost of living compared to other tax neutral jurisdictions

The island offers advantages that are not just tax driven, it is also an attractive place to live and work.

Read more about The Isle of Man: A safe harbour

About Dixcart Management (IOM) Limited - Douglas

With over 25 years’ experience, Dixcart Management (IOM) Limited specialises in the establishment, management and administration of offshore structures for international commercial and private clients.

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