About the Isle of Man

The Isle of Man is a successful and significant player in the international financial services arena.

The place to do business

The funds industry plays a significant role in the success of our Island and offers opportunities both for our existing businesses and businesses looking to relocate to a dynamic and growing jurisdiction.

The Isle of Man is situated at the heart of the British Isles and is a self-governing dependent territory of the British Crown. It is not a part of the United Kingdom but is a member of the British Commonwealth.

Tynwald, the Island's 1,000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. The Manx legal system is closely based on English law, but has been developed in certain areas to meet the Island's special circumstances, particularly with regard to taxation, company law, and financial supervision.

Specialist fund administration operations have been established, giving greater diversity to the Island's service offering to the promoters of offshore funds.

Changes to Isle of Man law allow for the incorporation of an Isle of Man company to act as an exempt manager to Isle of Man specialist funds, without having to be regulated in the Isle of Man. This exemption requires the support of an Isle of Man administrator and may be particularly attractive to start-up fund managers, family offices, multi-family offices and "onshore" fund managers who are looking to establish parallel operations outside of the European Union.

All this, combined with a first class telecommunication infrastructure and a great quality of life – the Isle of Man has recently been designated as a UNESCO world biosphere region – makes it easy to see why we think the Isle of Man is a great place to do business.

Key Economic Data and Standards

  • Resident Population: 83,314 (Isle of Man Census Report April 2016)

  • Land Area: 572 sq. km/ 227 square milesPopulation Density: 140 people per sq. kilometre or 352 people per sq. mile

  • Location: The centre of the Irish Sea - 50 km (31 miles) from Ireland and 50 km (31 miles) from the U.K.

  • Status: An internally self-governing dependent territory of the Crown which is not part of the United Kingdom

  • Currency: Sterling (the Isle of Man issues its own bank notes)

  • A comprehensive range of economic and statistical data is available by visiting the Economic Affairs website: https://www.gov.im/about-the-government/departments/the-treasury/economic-advisory/

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