Isle of Man
Constitution
 The Isle of Man, situated in the geographical centre of the British Isles, is an internally self-governing dependant territory of the British Crown, which is not part of the United Kingdom. It enjoys many important advantages, including political stability and financial soundness. Its legal system is based on common law, as in the UK and USA and as such is widely understood by most international lawyers.
Tynwald is the Islands 1000-year-old Parliament. It makes it own laws and oversees all internal administration, fiscal and social policies. The Isle of Man’s taxation and legal systems are entirely independent of those of the United Kingdom. It has contracted with the United Kingdom Government to provide diplomatic and consular representation abroad.
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Financial Status
 The Isle of Man is one of the most attractive offshore financial centres, with undoubted status and stability. We have one of the most respected supervision systems in the world.
There is no exchange control in force and, consequently, we benefit from the free movement of capital to and from the Island.
All major United Kingdom high street banks are represented in the Island and a number of major international banks are also present. |
Taxation
The Island has it's own Income Tax and Customs and Excise services and has long been a low tax area enjoying total independence from the United Kingdom on matters of direct taxation. Corporate tax is 0% (with the exception of banks and local property holding companies). Personal taxation rates are low and there is no capital taxation of any kind. As a consequence, the Island has developed into a flourishing international offshore business centre.
Europe
 The Isle of Man is not a member of the European Union. It does however enjoy a special relationship with the European Union by virtue of Protocol 3 of the Act of Accession by the United Kingdom. This extends the European Union legal regime to the Island for limited purposes, principally for customs and the free movement of goods.
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