How We Can Help
The Department of Economic Development offers a highly tailored service for high value corporates and individuals and has a proven track record in assisting successful businesses set up or relocate to the Isle of Man.
Qualifying clients will be assigned a dedicated Business Development Manager to ensure that the process of setting up and/or relocating to the Isle of Man is completed as smoothly as possible.
The Business Development Manager acts as a single point of contact for all relocation matters concerning the Isle of Man Government and will help where possible in commercial matters. They will also assist with enquiries regarding:
Coordinating Grants and Financial Assistance
The Department offers a range of financial assistance for businesses.
Check out the following for more information:
- Financial Assistance Scheme
- Business Support Scheme
The Isle of Man operates a simple taxation regime with a lower rate of tax on individuals of 10%, a higher rate of 20% and generous personal allowances with a £125,000 tax cap on personal income for the current tax year 2015-2016. Read more about individual taxation on the Isle of Man Treasury website.
For companies the lower rate of corporate income tax is 0% though a 10% rate of tax applies to income received by a company from any of the following sources:
- banking business
- and property in the Isle of Man (including property development, residential and commercial rental or property letting and mining & quarrying)
Resident and non-resident companies are subject to Manx income tax on the same basis and at the same rates.
Additionally, there is no capital gains tax, wealth tax, stamp duty, death duty or inheritance tax in the Isle of Man.
Read more about corporate taxation on the Isle of Man Treasury website.
Immigration and Work Permits
The Island has its own Immigration rules and work permits system. Your Business Development Manager provides practical support and advice on the Isle of Man work permits and immigration systems.
Finding Suitable Property
The Isle of Man offers a good variety of commercial property to service a wide range of business needs. We can provide practical help with site selection through visits to locations and premises.
We can assist with planning applications to support the relocation of your business. See Making a Planning Application for more information.
Business Development Managers
Our team of Business Development Managers liaise with industry representatives such as local business associations and clusters to engage directly in two way feedback on industry trends and issues.
Exhibition and Event Attendance
The Department attends a number of exhibitions and country visits each year in conjunction with industry partners – you can view these on our events page. If your business would like to attend, please contact your relevant Business Development Manager.
Registering a company in the Isle of Man is simple and straightforward. Off the shelf or ready-made companies are available from a number of sources, including corporate service providers who are licensed by the Commission to undertake such work. The Isle of Man Financial Services Authority's professional directory contains a full list of licensed corporate service providers. See Registering an Isle of Man Company for more information.
Liaison With Regulators
The Isle of Man has often been the pioneer in introducing pragmatic regulation and consumer protection, priding itself in being responsive to international needs and maintaining a business-centric approach. We can help you and your business understand the different regulations in the Island. See our Regulation section for more information.
We work with every Government Department to support business and have access to a vast network of industry experts and local partners.
Finding High Quality Staff
We can provide guidance on staff recruitment and locating the required skills base
Ongoing Government Support
Once relocated, we provide an aftercare service to recent investors.
Tailored Assistance for Entrepreneurs
We can provide tailored assistance for entrepreneurs. The Island is home to many successful entrepreneurs from luxury handmade watch makers to well known software developers.