An Island of Opportunity

 

The Isle of Man is a place where people and business will find the right environment in which to reach their full potential. Excellent financial and taxation benefits, effective collaboration and partnership between public and private sectors and world class connectivity means the Isle of Man is an outstanding location in which to do business, allowing you freedom to flourish.

 

The Isle of Man has a culture of innovation spanning centuries which means we empathise with the entrepreneurial spirit and offer it the opportunity to flourish.

 

Residents of the Isle of Man are either happy or very happy with the Isle of Man as a place to live. With little commuting, diverse career opportunities, low personal taxes, very low crime rate and a distinctive culture the quality of life on the Isle of Man is high. The Island also prides itself on being a caring society and offers excellent standards in both health care and education.

 

The Island also has an established reputation for events, particularly motor-sport and the internationally recognised TT Races. But the Island is increasingly becoming well-known as a centre of sporting excellence in other areas such as cycling and football, testament to the excellent sports facilities that are located here. The opportunities for hiking and walking are superb given that that the Isle of Man is an area of outstanding natural beauty.

 

For the less energetic, there’s 10,000 years of history to explore presented under the ‘Story of Mann’ banner by Manx National Heritage. Attractions range from the award-winning House of Manannan in Peel - an interactive heritage centre on the west coast presenting the Isle of Man’s Celtic, Viking and maritime history - to museums and medieval castles. In addition to the 600 miles of quiet roads, the Island’s Victorian railway systems also present a wonderful way to explore the Isle of Man.

 

Personal Taxation

The Isle of Man operates a policy of low taxes with a standard rate of tax on individuals of 10%, a higher rate of 20% and generous personal allowances with a £115,000 tax cap on personal income. Companies are subject to a zero rate, 10% or 20% depending on circumstances.

 

The Personal Allowances for 2011-2012 are:
Single Person Allowance: £9,300
Married Couple Allowance: £18,600

 

Thresholds at which higher rate of 20% tax becomes payable:
Single Person: £10,500 of taxable income
Married Couple: £21,000 of taxable income, fully transferable between husband and wife

Therefore, single persons may have incomes of £19,800 whilst for married couples this figure is £39,600.

There is no capital gains tax, wealth tax, stamp duty, death duty or inheritance tax in the Isle of Man.

www.gov.im/treasury/budget

 

Work Permit Requirements

Please click on the link below to access information on Work Permits.

www.gov.im/ded/workpermits/wpwelcomepage.xml