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About the Isle of Man
About The Isle of Man
The Isle of Man is a respected member of the international community and is at the forefront of best practice in financial regulation.
The Isle of Man is a self-governing British Crown dependency in the Irish Sea, located between the United Kingdom and Ireland.
The Island is acknowledged for its:
- Independent tax system
- English common law legal system
- Very well regulated financial services
- Favourable tax status
- Political stability
- Good relationship with the EU
The Isle of Man strives to be a model of political stability and financial supervision. The Island is at the forefront of best practice in international regulation and has been praised by global bodies including the OECD, G20 and IMF for its commitment to upgrading financial and supervisory standards. These recent independent endorsements have provided further recognition at a global level that the Isle of Man is a well-regulated and respected country with a diverse, successful economy equipped to deal with turbulent economic times.
While the Isle of Man is neither a member state nor an associate member of the European Union, there is free movement of goods between the Island and the European Union.
The Island is known as a leading international business centre renowned for innovation, professionalism and a long-standing policy of positive engagement with international initiatives and standards. The Island has successfully encouraged the diversification of its economy in recent years and is now home to a wide range of high performing sectors, including:
- Clean-tech and bio-tech
- Space Commerce
The Isle of Man is committed to international standards of tax transparency and has helped develop the OECD template for tax information exchange agreements (“TIEA”). Since then, the Isle of Man has remained at the forefront of efforts to extend tax co-operation agreements. This commitment to “openness” has earned the Island a place on the OECD “white list” of countries. Responding to evolving world standards, in 2011 the Isle of Man moved to the automatic exchange of tax information on savings, under the EU Savings Directive.
For further information, please contact:
Paul Scarffe, Managing Director
+44 (0) 1624 614971