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Jurisdiction Comparison Table

Comparison Chart

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Information Revision date: 15/08/2016

JurisdictionsIsle of ManUKJerseyGuernseyMaltaGibraltarSwitzerlandMonacoCaymanBermudaHong KongIrelandBVILuxembourgMauritiusFirst Cagayan (Philippines)CuracaoKahnawake (CA)
Consumer Protection
Banking
Relevant LegislationFinancial Services Act 2008Financial Services Act 2010Banking Business Regulations 2009      Banking Deposit Compensation Scheme Ordinance, 2008Directive 94/19/EECDeposit Guarantee Scheme Act, 1997Deposit Protection of Swiss Banks and Securities DealersNot Under ComparisonMonetary Authority Law (2013 Revision), Banks and Trust Companies Law (2013 Revision)Deposit Insurance Act 2011Deposit Protection Scheme OrdinanceDirective 94/19/EC  Not Under ComparisonDirective 94/19/EC  Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
FundingJointly funded by levies from participating banks and treasury funding.Funded by the industry on a pay-as-you-go basis.Funded by levies on Jersey banks, based on proportion of protected deposits. Levies are capped.Paid for by Guernsey banks.An annual contribution is given by participating organisationsFunded by an annual bank levy.Guaranteed by other banks.Not Under ComparisonAwaiting DataPremiums on participating banksContribution from banks and a stand-by credit facility from the Exchange FundRegular bank contributions will form 75%. An additional 25% will be provided by a bank levy.  Not Under ComparisonRegular bank contributions will form 75%. An additional 25% will be provided by a bank levy.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
EligibilityIndividuals with lower value deposits/savings up to the first £50,000.£85,000 per individual per bank.£50,000 per individual per bank.£50,000 per individual. No compensation for entities.Any claimant will be entitled to receive up to €100,000.Any claimant will be entitled to receive up to €100,000.Deposits up to CHF100,000Not Under ComparisonAwaiting DataDeposits up to $25,000 HKD500,000 per customer.€100,000 per depositor per bank. Businesses covered.  Not Under Comparison€100,000 per depositor per bank.  Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
ExclusionsDeposits constituting client accounts;   Other banks;   Companies in common ownership with the failed bank.  Large businesses and large charities.Corporations, SMEs, partnerships and trusts are not covered.Other trustee accounts. Entities (businesses, trusts, charities). Depositor-liable debt.Losses occurred due to 'bad advice'.Collective investment deposits, debt securities.Securities dealers and other banks.Not Under ComparisonAwaiting DataLarge businessesTime deposits with a maturity longer than 5 years, structured deposits, bearer instruments and offshore deposits.Some more complex products similar to bonds will not be covered. Banks operating in Ireland but regulated overseas are excluded.Not Under ComparisonSome more complex products similar to bonds will not be covered.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
CoverageIndividuals and companies, trusts, partnerships current accounts, notice accounts, fixed term accounts.  Private individuals, smaller businesses and smaller charities.Private individuals and charities.Individual's current accounts, notice accounts, fixed term accounts. Private individuals, most businesses.Most types of deposit, including those by businesses.Most deposits, including branches of banks outside of Switzerland.Not Under ComparisonAwaiting DataRetail and small business depositors.Ordinary deposits of individuals and companies.Current accounts, savings accounts, other accounts. No coverage of interest, bonus or similar payments.Not Under ComparisonCurrent accounts, savings accounts, other accounts. No coverage of interest, bonus or similar payments.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Currency ExclusionNoNoNoNoNoYes - Must be an EEA currencyNoNot Under ComparisonAwaiting DataOnly Bermudan dollarsNoneNoNot Under ComparisonNoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Coverage for Multiple Accounts with One BankNo. £50,000 per person per bank.  No, £85,000 per person per bank.£50,000 per person per banking group. Multiple accounts only covered collectively up to £50,000.No. £50,000 per person per bankNo.No. Only EUR100,000 per bank.No. CHF100,000 per depositor per bank.Not Under ComparisonAwaiting DataNoNoNoNot Under ComparisonNoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Scheme ManagerIsle of Man TreasuryFSCSJersey Bank Depositors Compensation SchemeBoard of the Guernsey Banking Deposit SchemeMFSAGDGBFINMANot Under ComparisonAwaiting DataBermuda Deposit Insurance CorporationHong Kong Deposit Protection BoardNoNot Under ComparisonAssociation pour la Guarantie des Dépôts, Luxembourg (AGDL)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Time ScalesClaims must be made within 6 months. First deposit paid within 28 days of default.  7 days, though more complex cases will be up to 20.£5,000 within 7 working days. The balance of compensation within 3 months.Within three months.  Within 20 working days.No target timeframe.Within 20 Days.Not Under ComparisonAwaiting DataNo Target TimescaleNo Target TimescaleOne weekNot Under ComparisonOne weekNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
e-Gaming
Ring-fencing of Player FundsYesUnder consideration by UK legislature.Awaiting DataNoYes - but the regulator can allow client and non-client accounts to be merged in some circumstances.NoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Financial Ombudsman
In Existence?YesYesYes (16/11/2015)Yes (16/11/2015)YesNoYes (Banking & Insurance)NoNoNoNoYesNoNoNoNot Under ComparisonNot Under ComparisonNot Under Comparison
International Customers Protected?YesYesYesYes  YesNot Under ComparisonYesNo financial ombudsmanNo financial ombudsmanNo financial ombudsmanNo financial ombudsmanYesNo financial ombudsmanNo financial ombudsmanNo financial ombudsmanNot Under ComparisonNot Under ComparisonNot Under Comparison
Funds
CoverageAuthorised Schemes only.    Regulated funds from the UK, EEA or Jersey only. Compensation depends on EEA home country's scheme.Recognised Funds only. Available to A1 and A2 SchemesRetail investors.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonInvestment instruments sold by firms, including units in collective investment schemesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
ExclusionsAll other collective investment schemes.All other investment schemes.All other collective investment schemes.All other schemesNon-Retail investors.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonCollective investment schemes not authorised to take undertake individual portfolio managements. Does not cover foreign firms selling funds.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Scheme NameACISCSFSCSAwaiting DataClass A Collective Investors Compensation SchemeInvestor Contribution SchemeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonInvestor Compensation SchemeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Means of FundingLevies collected from license holders, money from treasury.Levies on PRA and FCA authorised firms.Levies on fund functionaries.A levy on participants (licensees).A contribution from licence-holders.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonLevies on authorised firmsNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Compensation TimeframeNo target timeframe.Within 7 Days.No target timeframe.Not Specified.Awaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNo target timeframeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Amount of Compensation100% of the first £ 30,000 90% of the next £ 20,000 with a MAXIMUM Compensation of £48,000.EEA depends on home country's scheme. UK funds up to £50,000.100% of first £30,000, 90% between £30,000 - £50,000. Maximum payable is £48,000.90% of first £50,000, 30% thereafter (to a total of £60,000).90% of all claims or up to EUR20,000Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison90% of investment, to a maximum on EUR20,000Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Insurance
Compensation LegislationInsurance Act 2008, Life Assurance Regulation 1991.Financial Services and Markets Act 2000.Not Under ComparisonNo insurance insolvency compensation scheme currently, though legislation exists to allow it.Insurance Business ActNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Compensation EligibilityPolicyholder of long-term business insurance issued by IOM insurer.Policyholders from after 2001. Covers private individuals and some businesses.Not Under ComparisonNo scheme in place.An insured of the insolvent insurer, or another person in accordance with policy. Includes insured with long-term business.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Layers of Protection4 layers. Ring fencing, solvency margin, movement of business during liquidation. Policyholder protection.Must hold sufficient solvency margin. Assets can only be used for respective business.Not Under ComparisonNo scheme in place.N/ANot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Compensation FundingLevy on participating firms.Levy on participating firms.Not Under ComparisonNo scheme in place.Levy and interest from fund investmentsNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Compensation Scheme ManagerInsurance and Pensions AuthorityFinancial Services Compensation Scheme.Not Under ComparisonNo scheme in place.The Protection and Compensation Fund Management CommitteeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Compensation Amount90% of liability.90% of liability.Not Under ComparisonNo scheme in place.Varies. All of liability for a protected liability. 75% of other liabilities or EUR23,293, whichever is less. Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Demographic
Land Area
Land Area km2572 km2243,610 km2102 km278 km2316 km26.8 km241,000km22km2264 km253.2 km21,104 km270,273 km2153 km22,586.4 km22,040 km2  Not Under ComparisonNot Under ComparisonNot Under Comparison
Population
Population85,00064,800,00099,00065,000452,00032,7008,256,000 37,80058,23864,0007,298,6004,609,600    28,000562,9581,291,456Not Under ComparisonNot Under ComparisonNot Under Comparison
Density148/km ²255.6/km2819/km²837/km²3,413/km²4,328/km2188/km²18,000/km²212/km²1,275/km26,544/km265.3/km2    260/km2194.1/km2  630/km2  Not Under ComparisonNot Under ComparisonNot Under Comparison
Total-Age Dependency Ratio63.7% (2014)55% (2014)46.4% (2014)46% (2014)46% (2014)51%49% (2014)63%Not PublishedNot Published35% (2014)51% (2014)Not Published47% (2014)40% (2014)Not Under ComparisonNot Under ComparisonNot Under Comparison
Economic
Credit Rating
Moody'sAa1Aa1Not rated.Not ratedA3Not ratedAaaNot ratedAa3A1Aa1Baa1AAAAAABaa1Not Under ComparisonNot Under ComparisonNot Under Comparison
GDP
GDP/GNI Annual Growth Rate4.5% GDP (2013-14)2.3% GDP (Aug 2015)4% GDP (2014)0.5% GDP (2013)5.2% GDP (Jul 2015)10.3% (2014 est)1.9% (2014)9.3% GDP (2014)2.1% (2014)-2.5% (2013)2.2% (Dec 2014)4.1% (Sept 2014)1.2% GDP (2014)3.8% (Sept 2014)3.5% (Sept 2014)Not Under ComparisonNot Under ComparisonNot Under Comparison
Total GDP/GNI£4.32bn GDP (2013-14)£1651bn GDP (2014)£3.88bn GDP (2014)£2.35bn GDP (2014)US$9.5bn GDP (2013)£1.23bn GDP (2013)US$679bn GDP (2014)EUR4.94bn GDP (2013)US$3.93bn GDP (2012)US$5.47bn GDP (2012)US$290.9bn GDP (2014)£165bn GDP (2015 est)US$909m GDP (2012)US$60.4bn (GDP 2013)US$12.62bn GDP (2014)Not Under ComparisonNot Under ComparisonNot Under Comparison
World Bank GNI Per Capita Ranking (1-highest) 201482913 (Ranked as channel Islands)13 (Ranked as channel Islands)55Not ranked512033426Not ranked990Not Under ComparisonNot Under ComparisonNot Under Comparison
Government Spending
Expenditure£545m (2015-16 est)£742bn (2015-16 estt)£720m (2015 est)£410m (2015 est)EUR3.7bn (2015 est)£541m (2015/16 est)US$430bn (2015 Estimate)EUR930m (2013 est)$525m (2015 est)$1.1bn (2015-16 est)HK$354.3bn (2015 Estimated)EUR 53bn (2015)325m (2015 Est)EUR 15.6bn (2015 Estimated)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Income£547 (2015-16 est)£667bn (2015-16 est)£684m (2015 est)£410m (2015 est)EUR3.55bn (2015)£559m (2015/16 est)US$423bn (2015 Estimate)EUR945m (2013 est)$661m (2015 est)$990m (2015 est)HK$470.7 bn (2015 Estimate)EUR 65.2bn (2015 est)$311m (2015 Est)EUR 14.8bn (2015 Estimated)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Fiscal Deficit/Surplus£2m Surplus (2015-16 est)£76bn (2015-16 est)-£40m after capital expenditure (2015 est)£0m  (2015 est)EUR 150m deficit (2015 est)£18m surplus (2015/16 est)$7bn deficit (2015 Estimate)EUR15m surplus (2013 est)$134m (2015 est)$200m deficit (2015 est)HK$ 115bn surplus (2015 est)EUR 12bn surplus (2015 est)$14m deficit (2015 Est)EUR 0.8bn deficit (2015 Estimated)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Inflation
Inflation Rate (CPI)-1.2 (Jan 2016)0.2% (Dec 2015)0.9% (Dec 2015)1% (Dec 2015)1.2% (Dec 2015)0.8% (Jan 15)-1.3% (Dec 2015)Not Published-2.9% (Aug 2015)1.4% (Nov 2015)2.5% (Dec 2015)0.1% (Dec 2015)2.2%1.1% (Dec 2015)1.3% (Dec 2015)Not Under ComparisonNot Under ComparisonNot Under Comparison
Infrastructure
Power Generation240MW Maximum Continuous Rating, 138 for practical purposes.2,304 TWh (2014)Approx. 200MW70MW571MW62.4MW66TWhImports from France145.75mw167mw10644kWh7135 MW44MW1702MWNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Deep Water Ports114 (Panamax size)102 (1 Panamax size)1Landlocked2 (1 Deep water)032 (Panamax)14 (including NI)1Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Airports1 (and 1 private)100+111 (and 1 Heliport)12002121021Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Cost of Power16.25 pence per unit (kWh) 15 pence per unit (kWh)Approx. 14.9 pence per unit (kWh)Approx. 17.6 pence per unit (kWh)17 cents per unit (kWh)8.5 pence per unit AND a monthly standing charge of £6Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
BandwidthUp to 40mb/s downstream  broadband. Up to 1gb/s private circuit ethernet.VariesUp to 1gb/s with fibre broadband.40mb/s. Private circuits up to 155mb/s.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison14Mbs average 24mb to 240 mb 1gb/s through fibre connectionsNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Labour
Size of Workforce (2013)44,60932.8m56,00032,500184,50013,0005m50,000 (including commuters from EU)39,00037,4003.8m2.163mNot published208,000 (a further 150,000 commute from EU to work each day)1.8mNot Under ComparisonNot Under ComparisonNot Under Comparison
Minimum Wage (Hourly)£6.65 (2014)£6.50 (2014)£6.63 (April 2014)£6.65 (October 2014)EUR 4.14 (2014)£6.00 (September 2013)NoneEUR 9.90 (Jan 2013)NoneNoneHK$30 (May 2013)EUR 8.65 (July 2011)US$ 4.00EUR 12 (2014)16 rupeesNot Under ComparisonNot Under ComparisonNot Under Comparison
Unemployment
Unemployment %1.9% (Dec 2015)5.2% (Dec 2015)4% (May 2015)1.2% (Sept 2015)5.3% (Aug 2015)Not Published3.7% (Dec2015)2% (2014)4.8% (2014)7% (Aug 2015)3.3% (Dec 2015)8.6% (Jan 2016)Not published6.7% (Dec 2015)7.4% (Aug 2015)Not Under ComparisonNot Under ComparisonNot Under Comparison
Fiscal
Business Tax
Higher Rate for Companies10% (on banking business and on retail profits over £500k) 20% (on income from land and property in the Isle of Man)21%10% (in Banking)10% (in Banking, Funds Administration)35%10%No national business tax. Around 18% on average in Cantons.33% on profits made outside of Monaco0%0%16.5%12.5% (25% for non-trading income)0%21% (also 6.75% municipal business tax)15%Not Under ComparisonNot Under ComparisonNot Under Comparison
Standard Rate for Companies0%20%0%0%35% (Special rates for some offshore operations)10%8.5%0%0%0%16.5%12.5%0%20%15%Not Under ComparisonNot Under ComparisonNot Under Comparison
Social Security/National Insuranceup to 12.8%up to 13.8%N/Aup to 6%10%Between £15 - 33 a weekup to 6%up to 35%NoneWeekly rate of $32 by employer and $32 by employee. Noneup to 10.75%4.5%3.05% (up to a cap)6% up to 10.5%Not Under ComparisonNot Under ComparisonNot Under Comparison
Capital Gains Tax
Capital Gains TaxNone.18-28%None.None.Included within income tax rate.NoNoneNoneNoneNoneNone33% (40% on foreign life assurance policies)None21%NoneNot Under ComparisonNot Under ComparisonNot Under Comparison
Income Tax
Lower Rate10%20%20% Flat Rate.20% Flat Rate.15% (foreign income)Varies - two systems of taxation to choose from. Lowest 8%VariesNone0%0%2%20% on first EUR32,8000%8%15%Not Under ComparisonNot Under ComparisonNot Under Comparison
Higher Rate20%45%20% Flat Rate.20% Flat Rate.35% (income generated within Malta)Varies - two systems of taxation to choose from. Highest 40%VariesNone0%5.5% payroll tax17% 40% after EUR32,8000%40%15%Not Under ComparisonNot Under ComparisonNot Under Comparison
Special ArrangementsKey Employee Concession - key workers may be exempt from Manx tax on foreign income for 3 years.Not Under Comparison'1(1)k' License - 20% of £625,000, 1% for anything above. Residents can pay £27,500 fixed sum.HNWI tax rate of 15% on external incomeIndividuals may choose to pay tax under the ABS or the GIBS based systems.Non-working foreigners pay an annual lump sum tax.NoneNo income taxPayroll tax 4.75%Vehicle registration taxMarried taxpayers receive tax breaks.No income tax0.5% net wealth tax is levied on a companies worldwide net worth. 7% unemployment fund taxOffshore International Companies Category 2 are exempt from tax.Not Under ComparisonNot Under ComparisonNot Under Comparison
Tax Cap£125,000 subject to a 5 year election.NoneNoneNon-Guernsey earned income tax capped at £250,000. No cap on local income.NoneNone, except for 'Category 2' HNWI who have a £22k cap on income arising from outside Gibraltar.NoneNoneNoneNoneNoneNoneNoneNoneNoneNot Under ComparisonNot Under ComparisonNot Under Comparison
National Insurance/Social Securityup to 12.8%up to 13.8%up to 12.5%up to 6%10%£5 - £25.16 a weekup to 6%up to 13%NoneBMD 305% minimum8.5%4% (up to a cap)3.05% (up to a cap)3%Not Under ComparisonNot Under ComparisonNot Under Comparison
Withholding Tax0% on dividends. 10% levied on rents paid to nonresident co., 20% to indiv 0% (generally) on directors' fees. 20% on certain cases.20% on domestic payment of bank interest. EU withholding tax applies.Dividend from Jersey co to jersey tax resident = 10/20%Usually none. Dividends at 20% from Guernsey company to Guernsey reg tax indiv Complex system - varying regimes for different forms of income.No withholding on dividends, interest and royalties.Dividends - 35%. None on interest and royalties.EU's Savings Tax Directive imposes withholding tax on interest to EU residents of 35%.NoneNoneComplex Royalties withholding tax system. 0% on Dividends20%NoneGenerally subject to 15%15% int, 15% royalties, 10% technical serviceNot Under ComparisonNot Under ComparisonNot Under Comparison
Indirect Taxes
Within EU VAT zoneYesYesNoNoYesNoNoYes (Included with France)NoNoNoYesNoYesNoNot Under ComparisonNot Under ComparisonNot Under Comparison
VAT Registration Threshold£81,000£82,000No VAT - operates a functionally similar GST system.No VATEUR24,000 (services) EUR35,000 (goods)No VATCHF100,000EUR80,000 for goodsNo VATNoneNo VATServices EUR37,500, Goods EUR75,000No VATEUR10 000Rs2 MillionNot Under ComparisonNot Under ComparisonNot Under Comparison
Inheritance Tax
Inheritance TaxNo inheritance tax40% over £325,000 May reduce to 36% if 10% of estate left to charity.No inheritance taxNo inheritance tax8% tax on immovable property.NoneVaries between Cantons, 6-36%Usually Nil0%NoneNone33% over the threshold EUR225,000, EUR 30,150 or EUR 15,075 depending on relationship.No0% - 48% depending on relationship and value of inheritanceNoneNot Under ComparisonNot Under ComparisonNot Under Comparison
Stamp Duty
Property Transaction TaxNoneProgressive rate from 0% on property worth less than £125k and 7.7% after £2m.Progressive rate from 0% on property less than £400k to 7% above £3m.2% £250k -, 2.5% £250 - 400k, 3%400k+5-9%Varies - between 2% and 5.5%Varies4.5-7.5%5-10%2-7%1.5% - 8.5%1 - 2%4% for 'belongers', 12 for 'non-belongers'None on the sale of main domestic property5% - 10% land transfer taxNot Under ComparisonNot Under ComparisonNot Under Comparison
Government
Political System
Royal AssentLeuitenant Governor usually gives Royal Assent.Queen gives Royal Assent.Majesty in Council gives Royal Assent.Majesty in Council gives Royal Assent.N/AGovernor gives assentN/APrince gives assentThe Governor must give royal assentNot requiredN/AN/ANot requiredNot required as of 2008N/ANot Under ComparisonNot Under ComparisonNot Under Comparison
Brussels RepresentationBrussels office – opened 2012 Staff – 1 Director. EU Member.Joint CI Brussels Office opened in 2011.Joint CI Brussels Office opened in 2011.EU MemberEU Member (via UK)Not Under ComparisonVia FranceVia UKVia UKYes - HKETOEU MemberVia UKEU MemberNoneNot Under ComparisonNot Under ComparisonNot Under Comparison
Stability
DemocracyYesYesYesYesYesYesYesConstitutional MonarchyYesYesChinese TerritoryYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Index of Economic Freedom (2013)Not ranked14Not rankedNot ranked47Not ranked5Not rankedNot rankedNot ranked111Not ranked158Not Under ComparisonNot Under ComparisonNot Under Comparison
Age of Parliament979 AD1215 AD1771 AD1538 AD1921 AD1969 AD1848 AD (Federalisation)1297 AD1831 AD1620 AD1843 AD1919 AD1967 AD 1919 AD1968 ADNot Under ComparisonNot Under ComparisonNot Under Comparison
Inward Investment
Business Support
Ease of Doing Business (World Bank Group) 2014Not ranked8thNot rankedNot ranked94thNot ranked20thNot rankedNot rankedNot ranked3rd13thNot ranked59th28thNot Under ComparisonNot Under ComparisonNot Under Comparison
Financial AssistanceYesYesYesYesYes - Tax credits, SME financial aid, R&D aid. EU FundsYesYes - Cantons can give grants.NoNoNoYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Tourism Development FundNo, but funding may be available under general financial assistance.Individual counties may have funds.Yes (£211,366 awarded in 2012)NoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Grant Awarding BodyDepartment of Economic Development.VariesJersey Business. Independent grant funded body. Tourism Development Advisory Panel oversees tourism grants.Department of Social Security (for recruitment grants).Not Under ComparisonMinistry for Enterprise, Development, Technology & Transport, EU Programmes SecretariatNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonVariesDepartment of Trade and Consumer Affairs.Ministry of the Middle ClassesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Available Grants£3.5m (2012)299 grant schemes across a wide range of industries.Jersey Business. Currently not offering grants.Recruitment grants for hiring the long-term unemployed.Not Under ComparisonDevelopment Aid, EU Funds.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonMicro Finance Fund, Revenue Job Assist, Innovation Voucher amongst others.Awaiting dataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Legislation
Banking
Anti-Corruption LegislationIsle of Man Bribery Act 2013, various others.Bribery Act 2010The Corruption Law 2006, various others.The Prevention of Corruption Law 2003Permanent Commission against Corruption ActGibraltar Crimes ActSwiss Criminal Code 1937Service d'Information et de contole sur les circuits financiersAnti-Corruption Law 2008Proceeds of Crime Act 1997Prevention of Bribery OrdinancePrevention of Corruption ActsBritish Virgin Islands Anti-Money Laundering and Terrorist Financing Code of Practice 2008Law of 13 February 2011  The Prevention of Corruption Act 2002, The Financial Intelligence and Anti-Money Laundering Act 2002Not Under ComparisonNot Under ComparisonNot Under Comparison
Company
Redomiciliation LegislationYesNoYesYesYesYesYesNoYesYesNoOnly between certain jurisdictions.YesYesYes given that the other jurisdiction allows it.Not Under ComparisonNot Under ComparisonNot Under Comparison
Relevant LawsCompanies Act 1931, Limited Liability Companies Act 1996, Companies Act 2006, Cell Companies Act 2011.Companies Act 2006The Companies Law 1991The Companies (Guernsey) Law, 2008Companies ActThe Companies Act 1930Swiss Code of ObligationsCommercial CodeThe Companies Law 2012 RevisionCompanies Act 1981Companies Ordinance, Cap 32Companies Act 2012BVI Business Companies Act, 2004Includes Article 1832 of the Civil Code; Law of 10 August 1915.Companies act 2001, Insolvency Act 2009, Limited Partnerships Act 2011, Foundations Act 2012Not Under ComparisonNot Under ComparisonNot Under Comparison
Types of Company2006 Company. 1931 Companies either private or public. Limited liability companies available.Private company limited by shares is preferred for international transactions. Company limited by guarantee without a share capital.Public and private. Companies limited by shares are preferred for international transactions.Limited companies, limited by guarantee, incorporated cell companies, unlimited and mixed liability companies.Normal Maltese Limited Liability Company is preferred for international transactions. Shareless companies are not available.Preferred for international transactions: companies limited by shares.Aktiengesellschaft (AG), Societe Anonyme (SA). GmbH and SaRL becoming increasingly popular.Societe Anonyme Monegascque (SAM), Societe a Responsabilite Limitee (SARL), Societe en Commandite par Actions (SCA)Exempted companies, ordinary non-resident, ordinary resident, guarantee companies, PCCS.Bermuda Exempted Companies - various forms.Public limited Company; Private Limited Company; Company Limited by Guarantee w/o Share Capital; PartnershipsPrivate or public; limited or unlimited; multi member or single member companies. Company limited by shares, company limited by guarantee, unlimited company authorised to issue shares, private trust company.Preferred for international transactions: SA, SaRL and SCA. Shareless companies: SNC, SCS and SC.Preferred international transaction companies: Company with a Category 1 Global Business Licence, Company with a Category 2 Global Business License.Not Under ComparisonNot Under ComparisonNot Under Comparison
Capital RequirementsYes. 1931 Companies and hybrid companies - £2000.Yes. £50,000 for public companies.None.No minimum.Yes. EUR1,164Yes. Public companies require £20,500 minimum.Yes. AG - CHF100,000.GmbH - CHF20,000Yes. SAM - EUR150,000. SARL - EUR15,000. NoneNoneTypically. Limited companies with shares must have nominal capital.Public companies require a minimum of EUR30,092.NoneSA and SCA -  EUR31,000; SE - EUR120,000; SaRL - EUR12,500NoneNot Under ComparisonNot Under ComparisonNot Under Comparison
Incorporation FeesStandard Incorporation £100.£13 - £100£200. An additional £200 for a two hour fast-track.Varies, beginning at £100.Varies depending on authorised capital, minimum EUR210Approx £380 to £635CHF2,0000.5% on the nominal value of shares. Notary's fees 0.9% on the share capital.Start at approx US$733BDM291HKD1,720EUR100 (EUR50 if done online).None.EUR5,700GBL2 companies EUR150 ; GBL1 companies EUR500Not Under ComparisonNot Under ComparisonNot Under Comparison
Annual Fees£380£13£150Varies, beginning at £250.Varies depending on authorised capital, minimum EUR85Approx £445 to £750Awaiting DataNoneStart at approx US$823Beginning at BDM1,995 based on share capitalHKD250 for a years registration, HKD3,950 to gain a 3 three period registration.EUR40 for paper filing, EUR20 for online filing. Business companies US$350-US$1,100 ; limited partnership US$500EUR7,500GBL2 companies EUR255 ; GBL1 companies EUR1,765Not Under ComparisonNot Under ComparisonNot Under Comparison
Ready Made CompaniesYesYesYesNoNoYesNoYesYesNoYesNoYesNoNoNot Under ComparisonNot Under ComparisonNot Under Comparison
Length of Time to Incorporate48 hours for £100 Standard Fee.24-36 hoursWithin two working days (can be fast tracked to two hours).One day.2-3 DaysOne day at an additional fee, otherwise three days.One - two weeks.Two weeks.1 day at an additional fee.1-5 working days1 hour (online) or 4 working days5-10 daysOne dayTwo days7-15 daysNot Under ComparisonNot Under ComparisonNot Under Comparison
Minimum Number of Members1931 private limited companies - 1. 1931 public or unlimited company - minimum 2. LLC - 2. 2006 Company 1.Private companies - 1. Public companies - 2.One shareholder.One shareholder.Generally two.Private - 1. Public - 7.OneTwoOneOneTwo for all except private limited companies which only require one.Private Limited Company - 1. Private Unlimited Company - 2. Public Company - 7.OneSA and SE - one. SaRL - one. SCA - two.OneNot Under ComparisonNot Under ComparisonNot Under Comparison
Protected Cell CompaniesYesNoYesYesFor insurance only.YesNoNo.YesYesNoNoYesCertain entities (SICARs, UCITs/UCIs and securitisation vehicles).YesNot Under ComparisonNot Under ComparisonNot Under Comparison
Audited Financial StatementsYes. Excluding 2006 companies and LLCs. Non-audited allowed if under a profit threshold.YesYes for public companies.YesYesIf turnover is above £500k.Yes, though can be waived by shareholders.YesOnly regulated companies i.e. banks.May be waived is shareholders consent.YesYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Foundations
Possible in Jurisdiction?YesYesYesYesYesYesYes but they provide no tax advantage.Yes, but for non-profit purposes.YesYesNoYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Principal LegislationFoundations Act 2011Not Under ComparisonFoundations Law 2009Foundations Law 2012Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Minimum AssetsDoes not require initial assets.Not Under ComparisonDoes not require an initial endowment.Any property comprising initial endowment.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Registration Fee£195Not Under Comparison£200 (£400 for same day incorporation)£100 for a registration within 24 hours; £350 within two hours.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Required DocumentsFoundation instrument and foundation rules.Not Under ComparisonCharter and Regulations.Charter and Rules.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Required PartiesFounder, registered agent, council.Not Under ComparisonFounder, council, guardian, beneficiaries/purposes.Founder, council,  beneficiaries.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Annual Fees£360Not Under Comparison£150£500 (£0 if a charity)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Requirement for Local RepresentationThe registered agent must be located on the Isle of Man.Not Under ComparisonA qualified person must be on the foundation's council (licensed under JFSC).If the councillor or guardian are not licenced fiduciaries, a resident agent must be appointed (licensed by GFSC).Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Guardian/ProtectorNot required.Not Under ComparisonA guardian is required.A guardian is required when there are no beneficiaries.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
RedomiciliationYesNot Under ComparisonFoundations may migrate if a 'recognised entity' (such as a Malta Foundation).YesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
MergersNo.Not Under ComparisonYes, including with 'recognised entities'.No.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Publicly Available InformationFoundation instrument.Not Under ComparisonThe charter is the only available document.Name, registered number, address and councillors/guardian of a foundation.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Corporate body as founder/councillor/guardianNo, must be an individual.Not Under ComparisonYes.Yes.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Trusts
No. of Trust Service Licences125 (11 June 2014)Not Under Comparison189 (31 Dec 2012)151 Lead Licences, 41 Personal (11 Jun 2014)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison141 Trust Licences (31 Mar 2014)30 Licences (June 11 2014)Not Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Public RegisterNo.Not Under ComparisonNo.No.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNoAwaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Basis of LawCommon Law and Equity, plus Statutes.Not Under ComparisonCommon law, Trusts Law 1984.Common law, Trusts Law 2007.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonEnglish statute and common lawAwaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Cost of RegisteringNot Registered.Not Under ComparisonNot Registered.Not Registered.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison'Exempt trusts' have a small registration and annual fee.Awaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Number of TrusteesAt least 1.Not Under ComparisonAt least 1.At least 1.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison1Awaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Regulatory BodyFSCNot Under ComparisonJFSCGFCSNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonCIMAAwaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Termination FeeCSP Charges.Not Under ComparisonMinimum £500.Minimum £500.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonTrust assets under $10m - $5000 feeAwaiting DataNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Anti-forced Heirship ProvisionsYes - Trust Act 1995.Not Under ComparisonYes - The Trusts Law (Amended).Yes - The Trusts Law 2007.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonYes - Sections 90-93 of the Trusts Law 2011Yes - Trusts Act 1989Not Under ComparisonNot Under ComparisonYes - Trustee Act 1961Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Non-charitable Trusts PermittedYesNot Under ComparisonYesYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonYesYesNot Under ComparisonNot Under ComparisonYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Lifestyle
Housing Regulations
Open MarketYesYesLimitedLimitedYesYesYesYesYesLimitedYes though an additional tax applies to foreign nationals.YesYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Locals Only MarketsNoNoYesYesNoNoNoNoNoYesNoNoNoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Leisure
Golfing9 Golf Courses.Extensive6 Golf Courses.2 Golf Courses.1 Golf Course030+ Golf Courses1 Golf Course3 Golf Courses913Not Under ComparisonNoneNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Marinas2893463Landlocked2279Not Under Comparison20Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Political
EU
EU MemberNoYesNoNoYesNoNoNoNoNoNoYesNoYesNoNot Under ComparisonNot Under ComparisonNot Under Comparison
EEA AccessNoYesNoNoYesNoNo - but uses a similar treatyYesNoNoNoYesNoYesNoNot Under ComparisonNot Under ComparisonNot Under Comparison
International
WTO MemberNot a Member.YesNot a Member.Not a Member.YesNoYesNoNoNoYesYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Customs DutiesPart of the EU in respect of customs duties.EUPart of the EU in respect of customs duties.Part of the EU in respect of customs duties.EU12%Open trade with EUPart of the EU in respect of customs duties.Usually 20%Between 5% and 22.5%Oil, tobacco and alcoholEU5-20%EU15% or 30% on some goods.Not Under ComparisonNot Under ComparisonNot Under Comparison
Common Reporting Standards SignatoryYesYesYesYesYesYesRequires ratification from voters.Yes via EU regime extension.YesYesNoYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
OECD MemberYesYesNoNoNoNoYesNoNoNoNoYesNoYesNoNot Under ComparisonNot Under ComparisonNot Under Comparison
MONEYVALYesYesYesYesYesNoYesNoNoNoNoYesNoYesNoNot Under ComparisonNot Under ComparisonNot Under Comparison
IMF MemberNot a Member.YesNot a Member.Not a Member.YesNoYesNoNoNoNoYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Transparency
Double Taxation Agreements2512098 (9 from 27 July 2014)6506441 (with the UK)None286838038Not Under ComparisonNot Under ComparisonNot Under Comparison
TIEA29213437423About 8018271811726136Not Under ComparisonNot Under ComparisonNot Under Comparison
UK FATCAYesYesYesYesNoYesNoNoYesModel 2 AgreementNoAlready in EU Savings DirectiveNoAlready in EU Savings DirectiveNoNot Under ComparisonNot Under ComparisonNot Under Comparison
US FATCAYesYesYesYesYesYesYes - Model 2 IGANoYes - Model 1Yes - Model 2Yes - Model 2YesYesYes - Model 1Yes - Model 1Not Under ComparisonNot Under ComparisonNot Under Comparison
Residency
Immigration
Barriers to Employment of EEA CitizensRequires work permit for first 5 years. 'Manx Worker' thereafter.NoneNo work permit required.Employment needs to be registered.NoneEU citizens (bar the UK) must be self-employed or have employment in Gibraltar.Quota system in force.Requires an investment of EUR1mWork permits required from employer.Must gain a work permit, which is dependent on getting a job which no local can do.Offer of work required before a work permit can be granted.NoneWork permits required for all non BVI residents, and only if locals cannot be hired.Must make a 'residence declaration' within 3 months of arrival.Must be an investor, professional or self-employed and be above certain income/profit thresholds.Not Under ComparisonNot Under ComparisonNot Under Comparison
Barriers to Employment of non-EEA CitizensFollows UK points-based immigration.Points-based immigration system.Follows UK points-based immigration.Follows UK points-based immigration.Work permit or financial qualification under the GRP scheme.3 year work permit available, after which individual must leave.Highly restricted - 'ties' to Switzerland usually required.Similar to a EU/EEA residency, however requires about 3 months to process.Work permits required from employer.Must gain a work permit, which is dependent on getting a job which no local can do.Offer of work required before a work permit can be granted.Work permit and an employment visa are required.Work permits required for all non BVI residents, and only if locals cannot be hired.Must have a housing contract, health certificate, evidence of means of existence.Must be an investor, professional or self-employed and be above certain income/profit thresholds.Not Under ComparisonNot Under ComparisonNot Under Comparison
HNW Immigration VisaTier 1 Entrepreneur, Tier 1 Investor.Tier 1 Entrepreneur, Tier 1 Investor.Tier 1 Entrepreneur, Tier 1 Investor.Tier 1 Entrepreneur, Tier 1 Investor.Individual Investor ProgrammeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Sectors
Banking
Deposit Base£41.27bn (Mar 2015)£2.3bn (M3) (Dec 2014)£132bn (Dec 2014)£83.4bn (Mar 2015)EUR42bn (April 2014)£5.15bn (April 2014)CHF616bn (April 2014)Not Under ComparisonTotal value of deposits not published - however US$1.5tn in liabilities.Awaiting DataHKD9.18tn (April 2014)EUR179bn (April 2014)Not Under ComparisonEUR585bn (April 2014)MUR 713bn (April 2014)Not Under ComparisonNot Under ComparisonNot Under Comparison
Headline Tax Rate for Banking Profits10%23% (also bank levy. 0.078% on short-term liabilities and 0.039% on long-term liabilities).10%10%35%10%Varies depending on canton.Not Under Comparison0%Awaiting Data16.5%12.5%Not Under Comparison21%15%, plus a special bank levy of 3.4% on book profit and 1% on operating income.Not Under ComparisonNot Under ComparisonNot Under Comparison
Regulatory BodyFinancial Supervision Commission (FSC)Prudential Regulatory Authority, Financial Conduct Authority, Financial Reporting Authority.Financial Services Commission (JFSC)Financial Services Commission (GFSC)Malta Financial Services Authority (MFSA)Financial Services Commission (GFSC)Swiss Financial Market Supervision Authority (FINMA), Swiss Federal Banking Commission (FSBC)Comité des établissements de crédit et des entreprises d'investissement (CECEI) Commission for the Control of Financial Activities (CCFA)Cayman Islands Monetary Authority (CIMA)Bermuda Monetary Authority (BMA)Hong Kong Regulatory Authority, Hong Kong Monetary Authority (HKMA)Irish Financial Services Regulatory AuthorityNot Under ComparisonCommission de Surveillance du Secteur Financier (CSSF)    Central Bank of MauritiusNot Under ComparisonNot Under ComparisonNot Under Comparison
Relevant LegislationFinancial Services Act 2008, Regulated Activities Order 2011Financial Services Act 2012The Banking Supervision Law 1991, Banking Business Order 2002Financial Services Banking Act 1992Financial Institutions Act, Banking Act.Financial Services (Banking) ActFederal Act on Banks and Savings Banks, Swiss Financial Market Supervision ActNot Under ComparisonThe Monetary Authority Law 2008 Revisions, Banks and Trust Companies Law 2009.Banks and Deposit Companies Act 1999Banking OrdinanceCentral Bank Acts, EU derived Statutory InstrumentsNot Under ComparisonLaw of 5 April 1993, EC regulation No. 1287/2006Banking Act 2004, the Finance Act 2004 and the Financial Services Act 2007  Not Under ComparisonNot Under ComparisonNot Under Comparison
Annual Reporting SubmissionsAudited financial statements, audited financial return, accounts of parent or holding company. Auditors report, Compliance return.Audited balance sheets and income statements (FSA001 and FSA002).Auditors' report, audited accounts.Audited financial statements, prudential report certified by the auditor.Credit institutions must have annual audited financial statements sent to the MFSAAnnual statement of compliance, audited financial statements, Auditors' report on accounting recordsAnnual financial statement sent to FINMANot Under ComparisonAnnual audited accounted, audited financial statements.Awaiting DataOn an annual basis. Foreign credit institutions must report bi-annually.Annual reports to the Central Bank of Ireland, under the FINREP requirements.Not Under ComparisonTAF/MiFID reporting on financial instruments transactions. At least annual audited reports, under a choice of accounting regime.Quarterly reports, annual financial statements.Not Under ComparisonNot Under ComparisonNot Under Comparison
Capital RequirementsBasel II minimum capital requirements.Basel III/ EU CRDIV - 4.5% Tier 1, 8% total capital.Basel II minimum capital requirements.Basel II minimum capital requirements.Basel III/ EU CRDIVEU CRDIV applies. Minimum €5m.8% of risk weighted assetsNot Under ComparisonCI$400,000 except for restricted banking licences, which require a minimum of CI$20,000.Basel IIHK$300m licensed banks, HK$100m restricted banks, HK$25m deposit-taking companiesEU CRDIVNot Under ComparisonEU CRDIV. Share capital of at least EUR 6,200,00010% capital adequacy ratio.Not Under ComparisonNot Under ComparisonNot Under Comparison
Depositor Compensation SchemeYesYesYesYesYesYesYesNot Under ComparisonAwaiting DataYesYesYesNot Under ComparisonYesN/ANot Under ComparisonNot Under ComparisonNot Under Comparison
Liquidity RequirementsMaximum mismatch limits are specified. [Sight to < 8 days] and [sight to < 1 month] are 0%. Commission may give other mismatch limits, as considered applicable.Basel III/ EU CRDIV - 25% of outflows.Maximum mismatch limits are specified. [Sight to < 8 days of 0%] and [sight to < 1 month of -5%].Enhanced mismatch limits [sight to < 8 days] and [sight to < 1 month] of 0% and -5% respectively.30%EU directives apply, requiring minimum liquidity.Correspond to Basel III guidelines.Not Under ComparisonMinimum threshold: RAR of 12% for subsidiaries,15% for locally incorporated banks.Awaiting Data25% liquidity ratio.EU CDRIVNot Under ComparisonEU CRDIVCentral Bank of Mauritius allows banks to decide their own liquidity requirements.Not Under ComparisonNot Under ComparisonNot Under Comparison
License Fees - Application£8,950£1,000 - £25,000 depending on complexity.£10,000£37,440€12,500 for application£25,000Around CHF184,000Not Under ComparisonCI$2000Awaiting DataHK$384,270 - 474,340No fees.Not Under ComparisonEUR10,000MUR 90,000Not Under ComparisonNot Under ComparisonNot Under Comparison
License Fees - Annual£18,750Varies according to specific activities undertaken by bank.Varies£37,440 - £5m€18,000 and a supervision fee of 0.000175 X deposit liability (not exceeding €500k)£22,100N/ANot Under ComparisonVariesAwaiting DataHK$19,110 - 22,400Annual bank levy, which varies widely.Not Under ComparisonDepends on balance sheet - EUR 50K - EUR 120kMUR 600,000Not Under ComparisonNot Under ComparisonNot Under Comparison
Foreign Branch License PermissibleYesYesYesYesYesYesYesNot Under ComparisonYesAwaiting DataYesYesNot Under ComparisonYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Number of Licenses Issued27Several hundred34302420297Not Under Comparison212 (1Q 2014)Awaiting Data20068Not Under Comparison16021Not Under ComparisonNot Under ComparisonNot Under Comparison
Global Financial Centres Index (2014)512414267535/9 (Zurich/Geneva)2443Not Listed366441263Not Under ComparisonNot Under ComparisonNot Under Comparison
e-Gaming
Regulatory BodyGambling Supervision CommissionGambling CommissionJersey Gambling CommissionAlderney Gambling Control CommissionLotteries and Gaming AuthorityGambling Commissioner & Licensing AuthorityNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonCagayan Economic Zone Authority (CEZA)Curacao eGaming Licensing AuthorityKahnawake Gaming Commission
Application Fee£5,000 administration fee. £5,000 for a sub-licence. £5,000 for a network license.VariesHosting providers: £500 application.Alderney - No application fee, but a deposit is required, of which some may be returned to the applicant.EUR2,330NoneNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonFull License - US$40,000, Restrictive Interactive Gaming License - $26,000Awaiting DataUS$25,000. US$5,000 for KPL
Licence Fee£35,000 per annum for Full Licence, £5,000 for a sub-licence per annum. £50,000 for a Network Licence per annumVariesHosting providers: £1000Alderney - Cat 1 A-D £35,000 to £140,000. Cat 2 - £35,000EUR8,500£2000 per annumNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonIncluded in application fee.£3,400 per month for two years. Fee is renegotiated after two years, likely to be a % of profits.US$25,000 (This includes application fee).
Licence Renewal Fee£35,000 for Full Licence, £5,000 for a sub-licence. £50,000 for Network LicenceVariesAwaiting DataAlderney - . Band A - £35,000. Band D - £140,000 Category 2 is £35,000EUR1,500NoneNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison$40,000 for full license, $15,000 for RIG license.Awaiting DataUS$10,000 per annum
Licence Period5 Years.1 Year1 yearAlderney - 1 year5 yearsPermanentNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison7 Years2 years1 year
Expected Application Time10-12 weeks.Commissions discretion - around 6 weeks.Awaiting DataAlderney - Within 6 months12-18 weeks3-7 monthsNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonPotentially within 30 days.10 weeks4 - 8 weeks
Effective Gambling VAT Rate20%ExemptAwaiting DataNone18%NoneNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNo VATNo VATNo VAT
Gambling DutyOn the first £20m of profit, 1.5% duty payable, on the next £20m, 0.5% duty payable, an any amount in excess of the first £40m 0.1% is payable.15% on gross profitsAwaiting DataNoneClass 1 - EUR4660 per month for first 6 months, then EUR7000 thereafter. Class 2 - 0.5% on turnover. Class 3 - 5% on profit. Class 4 - initially nil, rising to EUR4,660 after 12 months.1% of turnover, minimum of £85,000, maximum of £425,000.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonFor e-Casino - 2% on Gross Win. Sportsbook - $48,000 in year one, $60,000 in year 2, $120,000 in year 3. Additionally, 5% tax on gross income.2% on net profits.Awaiting Data
Gambling Duty CapN/AN/AAwaiting DataNoneEUR466,000£425,000Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonAwaiting DataAwaiting DataAwaiting Data
Licence TypesFull licence, sub-licence, network licence.Over a dozen different licences.Remote Gambling Operators, eGaming Disaster Recovery Licence, Remote Gambling Hosting ProvidersAlderney - Cat 1 (Bands A- D) - For white labels or a company that operates its own platform, Cat 2 - platform providers license.Class 1, 2, 3, 4.Remote Gaming LicenseNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonFull License, Restrictive Interactive Gaming License (RIG)Master License, Sub-LicenseInteractive Gaming License (IGL), Client Provider Authorisation (CPA), Secondary Client Provider Authorisation (Secondary CPA), Key Person License (KPL)
Funds
Under Management (Net)$21.47(June 2015)£834bn (Dec 2014)£228bn (Dec 2014)£219.4bn (Dec 2014)EUR9.9bn (Sept 2014)Not Under ComparisonNot Under ComparisonNot Under Comparison$2.4tn+$187.88bnNot Under ComparisonEUR1,115bn (Q1 2014)  $100bn +EUR3.1bn (Dec 2014)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
No. Investment Funds333 (Dec 2014)2524 (Apr 2014)1323 (Dec 2014)812 (Dec 2014)476 (Sept 2014)Not Under ComparisonNot Under ComparisonNot Under Comparison10,871762Not Under Comparison530530003884Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Principal LegislationCompanies Act 2006 & Companies Act 1931 Collective Investment Schemes Act 2008 Financial Supervision  Regulations 2010  Authorised Investment Funds Regulations 2012, The Alternative Investment Funds Managers Regulations 2013.Companies (Jersey) Law 1991. Collective Investment Funds (Jersey) Law 1988 ("CIF Law"). Collective Investment Funds (Unregulated Funds) (Jersey) Order 2008. Financial Services (Jersey) Law 1998.  Protection of Investors (Bailiwick of Guernsey) Law, 1987  Investment Services ActNot Under ComparisonNot Under ComparisonNot Under ComparisonCompanies Law Mutual Funds Law Exempted Limited Partnership Law Trusts Law Securities Investment Business Law  Investment Funds Act 2006Not Under ComparisonPart XIII of the Companies Act, 1990. Unit Trusts Act, 1990. Investment Limited Partnerships Act, 1994. European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 ("UCITS").  BVI Business Companies Act, 2004 (as amended). Securities and Investment Business Act, 2010 (as amended). Partnership Act, 1996 (as amended). Mutual Funds Regulations, 2010.  EU UCITS IV Directive, SIF Law  Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Government Regulatory ApprovalYes – all funds falling with the definition of a "collective investment fund"  Yes for authorised funds.YesAll schemes.All schemes other than Private Collective Investment Scheme.Not Under ComparisonNot Under ComparisonNot Under ComparisonYes. Closed-ended vehicles are not regulated    Yes, and all fund administrators must be licensed (except for exclusions)Not Under ComparisonAll open and closed ended vehicles which offer their units/shares to the public are regulated.    Yes. Closed-ended vehicles are not regulated.    All funds require approvalNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Regulatory exemptionsExempt Schemes are unregulated schemes which can have up to 50 investors Unregulated Collective Investment Schemes (UCIS).Unregulated Eligible Investor Funds  All schemes are regulated.Private Collective Investment Schemes do not need licensing.Not Under ComparisonNot Under ComparisonNot Under Comparisona) funds with a minimum investment of US$100,000 are exempt (b)  fewer than fifteen investors  = exempt.  Private funds, close-ended funds can be excluded. Investment funds which have ‘qualified participants’ can be exempted.Not Under ComparisonQualifying Investor Funds ("QIFs") are exempt from most of the regulatory requirements.  None available for vehicles falling inside the definition of "mutual fund" or "fund".  No regulatory exemptions.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Types of FundAuthorised Scheme Regulated Fund   Qualifying Fund Specialist Fund Exempt SchemeAuthorised Investment Funds, Qualified Investor Schemes, Tax Elected Funds, Investment Trust Companies, Unauthorised Unit Trusts.Unclassified Fund, Expert Fund, Unregulated Eligible Investor Fund Open-ended classes A,B,Q. Close ended authorised, close ended registered. Qualifying Investor Funds (QIF)Private Collective Investment Scheme, Retail UCITS Fund, Retail Non-UCITS Fund, Professional Investor Fund.Not Under ComparisonNot Under ComparisonNot Under ComparisonLicensed Mutual Fund, Administered Mutual Fund, Registered Mutual Fund, Exempt Mutual Fund Institutional, Administered, Segregated Account Companies, Standard, Private Funds, Closed-ended FundsNot Under ComparisonQualified Investor Funds, Retail Fund, Professional Investor Fund, UCITS Fund    Public Fund, Professional Fund, Private FundUCITS, 2010 Law Part II UCI, SIFNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Vehicles UsedLimited Company, Protected Cell Company, Incorporated Cell Company Unit Trust, Limited Partnership.  Investment Companies with Variable Capital, Authorised Unit Trusts.Limited Company, Protected Cell Company, Incorporated Cell Company Unit Trust Limited Partnership, Incorporated Limited Partnership and Separate Limited Partnership  Companies, cell companies, unit trusts, limited partnerships.All types, thought UCITS cannot be close-ended.Not Under ComparisonNot Under ComparisonNot Under ComparisonCompanies: Exempted Company, Segregated Portfolio Company Unit Trust Exempted Limited Partnership  Company limited by shares, limited partnerships, standard exempted companies.Not Under ComparisonCompanies: Investment Companies, Units Trusts, Limited Partnerships (QIFs only), Common Contractual Funds  Companies: BVI Business Company, Segregated Portfolio Company Unit Trust Limited Partnership  FCP investment company, SICA V or SICAFNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Investment RestrictionsYesYes. Qualified Investor Schemes requires experienced investors.YesClass Q schemes are for professional investors only, as are QIFs.Private Collective Investment Schemes -  Max 15 investors. Retail UCITS - Limits on borrowing and investing with any single body.Not Under ComparisonNot Under ComparisonNot Under ComparisonNoInstitutional funds require ‘qualified participants’.Not Under ComparisonYesNoCertain AIFs must be marketed to qualified and professional investors.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Minimum Initial InvestmentQualifying Fund To be agreed between manager and governing body. Regulated Fund Set by governing body. Specialist Fund $100,000 VariesUnclassified Fund – None Expert Fund – US$100,000 (or currency equivalent) or investors are otherwise "Expert Investors". Unregulated Eligible Investor Fund – US$1,000,000 (or currency equivalent) or investors are otherwise "Eligible Investors".  $100,000 for qualifying investor fundsPIFs - EUR10,000 for Experienced Investor, up to EUR750,000 for Extraordinary Investor.Not Under ComparisonNot Under ComparisonNot Under ComparisonLicensed Mutual Fund – None Administered Mutual Fund – None Registered Mutual Fund – US$100,000 (or currency equivalent) Exempt Mutual Fund – None  Institutional Fund - $100,000. Administered Fund - $50,000Not Under ComparisonQIF Unit Trusts – none QIF Investment Companies - must diversify - i.e. hold two to three investments Retail Fund - investment restrictions apply UCITS Fund - Transferable Securities only as defined in the UCITS Regulations.  Public Fund – None Professional Fund – US$100,000 each (or currency equivalent) other than for certain exempted investors (which include the investment manager and its employees). Private Fund – None  EUR125,000 for SIFsNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Government FeesAuthorised Scheme Single tier: £1900 application fee £1300 periodical fee. Umbrella: £1750 per fund, £700 per sub-fund Regulated Fund Application fee: £900 Annual fee: £1200 Qualifying Fund No application fee Annual Fee £500 Specialist Fund No Application Fee Annual Fee £500 Exempt Scheme Modest annual corporate charge  Application fees: UCITS - £1200, Non UCITS £1500, QIF - £2400 Annual fees vary according to fund income.Fee due on incorporation of £200. Annual Return Fee of £150. Unclassified Funds and Expert Funds Registration fee of £1,000  Around £3000 annual fee, and a similar amount for the initial application fee.Depends on licence held and amount of revenue.Not Under ComparisonNot Under ComparisonNot Under Comparison(Assuming the company is formed with the statutory minimum of up to US$50,000) - annual fee to the Registrar of Companies ("ROC") of US$854. Annual Fee payable to CIMA of US$4,268 (if fund is regulated by CIMA).  $830 application. Annual fee $1,490. Fund administrator fee $8,270. Administrator annual fee $9,100Not Under ComparisonAnnual filing and fees required. Memorandum and Articles of Association open to public for inspection. Companies Registration Office ("CRO") has an on-line filing system.  $350 for companies authorised to issue 50,000 shares or fewer $1,100 for companies authorised to issue more than 50,000 shares. Private and Professional Funds: A registration fee of $700 and an annual fee of $1,000 Public Funds A registration fee of $1,000 and an annual fee of $1,500 for Public Funds.  UCI/UCITS or SIF - EUR3500 - 7000 formation fee. Annual fees range from EUR3000 - EUR30000 depending on size of fund.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Recognised Stock ExchangeTISELondon Stock ExchangeTISETISEMalta Stock ExchangeNo stock exchangeNot Under ComparisonNot Under ComparisonCayman Stock ExchangeBermuda Stock ExchangeNot Under ComparisonIrish Stock ExchangeNoneLuxembourg Stock  ExchangeNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Reporting RequirementsLtd company must file annual reports.Annual and half-yearly reports.Limited Company must file annual returns.  All funds must be audited and return financial statements to GFSC.Compliance report, annual reports. Retail funds require monthly statistical returns.Not Under ComparisonNot Under ComparisonNot Under ComparisonAll mutual funds, other than exempted mutual funds, must file annual returns and statements.  Standard, Institutional and Administered funds – monthly basis. Notice of changes and annual statements of compliance required.Not Under ComparisonAudited financial statements must be filed. Unaudited interim reports must be filed (not applicable to QIF companies).  Mutual Funds must file annual returns. Mutual Funds must generally file annual audited accounts.  Annual reports for UCITS and 2010 Law UCIs. AIFs also require annual reports (SIFs, EuVECA, EuSEF)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
RegulatorIOM FSCFCAJFSCGFSCMalta Financial Services AuthorityNot Under ComparisonNot Under ComparisonNot Under ComparisonCIMABMANot Under ComparisonCentral Bank of IrelandBVI FSCCommission de Surveillance du Secteur Financier (CSSF)    Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
ICT
Disaster RecoveryYes - free for 90 daysYesN/AYesNoNoNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonYesYesYes (Montreal)
Data Systems - Tier3433Not Under ComparisonNot RatedNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under Comparison344 (Montreal)
Reserve Power SuppliesYesYesYes.YesNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
External Fibre Optic LinksYesYesYesYesNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonYesNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Specific IP ProtectionEquivalent to EU/UK with extended international treaties.EU legislation. 'Patent Box' allows for tax break on new IP income.'Dependant registry' means IP must first be registered in UK. Some international treaties are not extended to Jersey.Has own IP registry. However, some treaties are not extended to Guernsey.Not Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonFollows EU legislation. Also features IP tax exemption scheme.Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Telecoms Self-Healing RingYes - 2 ringsYesYesYesNot Under ComparisonAwaiting DataNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonYes (Hibernia)Not Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under ComparisonNot Under Comparison
Social
Education
Private Available?YesYesYesYesYesYesYesYesYesYesYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Public AccessAvailable freely to all residentsAvailable freely to all residents.Available freely to all residentsAvailable freely to all residentsCompulsory to all residents.YesAvailable freely to all residentsAvailable freely to all residentsNot freely available to Expats - conditions apply.Available freely to all residents.Available to all residents.Available freely to residents, EU citizens.YesYesAvailable freely to residents.Not Under ComparisonNot Under ComparisonNot Under Comparison
International Baccalaureate Available?YesYesYesYesYesNoYesYesYesYesYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Degree LevelYesYesYesNoYesNoYesYesYesNoYesYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Environment
Environment Performance Indicator RankingUnrated12UnratedUnrated34Unrated1UnratedUnratedUnrated118 (as China)19Unrated2UnratedNot Under ComparisonNot Under ComparisonNot Under Comparison
Carbon Reduction PolicyKyoto Protocol - BasedKyoto Protocol and EU ETS.NoneKyoto ProtocolKyoto Protocol and EU ETSKyoto Protocol and EU ETSKyoto ProtocolCounted as French emissionsNoneNone50% by 2020Kyoto Protocol and EU ETSNoneKyoto Protocol and EU ETSKyoto ProtocolNot Under ComparisonNot Under ComparisonNot Under Comparison
Emission Trading SchemeNoneEU ETSNoneNoneEU ETSEU ETSSwiss ETSNoneNoneNoneNoneEU ETSNoneEU ETSNoneNot Under ComparisonNot Under ComparisonNot Under Comparison
Health
PublicYesYesYesNo (Limited)YesYesYesYesNoNoYesYesYesSubsidised public health insurance.YesNot Under ComparisonNot Under ComparisonNot Under Comparison
Full Range of Private HealthcareYesYesYesNoYesNoYesYesYesYesYesYesNoYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Limited PrivateYesYesYesYesYesYesYesYesNoNoYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Transport
Scheduled Daily Flights34Thousands4940303-4HundredsNo airport108500+HundredsNo direct routes to EU/UK/USAHundredsHundredsNot Under ComparisonNot Under ComparisonNot Under Comparison
Scheduled Daily Ferries5N/A942-30LandlockedNoneNoneNoneDozensOver 10At least one daily ferry to USVIN/ADaily from ReunionNot Under ComparisonNot Under ComparisonNot Under Comparison
Private Air AccessYesYesYesYesYesYesYesNo airportYesYesYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Private Sea AccessYesYesYesYesYesYesLandlockedYesYesYesYesYesYesN/AYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Private Helicopter AccessYesYesYesYesYesNoYesYesYesYesYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison
Private Jet Landing Fees Per Flight£7-15Varies£15£6-10EUR1.33 per 500kg up to 12,000kgs. Over 12,00kg = EUR1.89 per 500kg£75-150VariesNo airport$200 - $400$72 - $204HKD2,210EUR 8.64 per tonne and a variable parking fee.$10 for aircraft under 5,000lbs. $2.50 for every 1,000lbs above.EUR 3.62 per tonne up to EUR 9.72 per tonne.35 - 50 rupees per 50,000 kgsNot Under ComparisonNot Under ComparisonNot Under Comparison
Speed LimitNone in certain areasYesYesYesYesYesYesYesYesYesYesYesYesYesYesNot Under ComparisonNot Under ComparisonNot Under Comparison

This Comparison Chart is intended to provide an overview of key corporate features of the various jurisdictions. The content is general in scope and should not be relied upon as advice. Every effort has been made to ensure that the content within this Comparison Chart was correct and up-to-date at the time of publication.

The Department of Economic Development (a Department of the Isle of Man Government)(“the Department”) does not accept any responsibility, legal or otherwise, resulting from any errors or omission and shall not be liable for any losses or damage that anyone may suffer as a result of relying on the information contained herein.. In particular, the Department recommends that independent professional advice be taken prior to purchasing a company or establishing any corporate structure.

Fees quoted may be subject to change.