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Home  >  Company: Isle of Man 24 June 2018
Isle of man

The Isle of Man is classified as a British Crown Dependency and had fiscal and legislative autonomy from the United Kingdom. Indeed, the Manx Parliament, Tynwald, is the oldest continuous parliament in the world, being established in 979 AD by Norse Vikings.

The people of the Isle of Man, the Manx, are fiercely proud of their Celtic and Norse ancestry and examples of this rich history are still found throughout the Island today.




Indeed, the national Manx flag (above) is derived from the Island’s Norse heritage.

The Isle of Man enjoys a central location in the British Isles, and has a rich and colourful history in seafaring. Click here for a brief summary of this history.


The Isle of Man Today

The Isle of Man is an established, well regulated and competitive player in the global offshore industry, being a major player in the banking, insurance, e-commerce, space and shipping industries.

The financial and professional support services are of the highest standard and the Island can draw on its well educated, motivated workforce and its modern communications and stable social infrastructure.


Taxation

A major draw for business to the Isle of Man is the favourable tax regime in operation.

Of primary interest here is that Isle of Man Registered Companies are currently charged taxation at 0% on their taxable profits.

The regime for individuals is also favourable in comparison to most EU jurisdictions, the standard rate of Income Tax being 10%, and the higher rate currently set at 20%. Further to this there are no taxes on capital gains, nor are there any taxes on death.