About the Isle of Man
Location
The Isle of Man is centrally located in the British Isles and has direct flights to major cities in Great Britain and the Republic of Ireland.
ConstitutionAs a Crown Dependency the Isle of Man is largely self-governing. The Crown retains responsibility for the Island's defence and external relations for which annual payment is made.
The Island is affiliated to the European Union but the relationship is limited to ensuring free movement of goods and conformity with Customs arrangements.
Economy
The economy is dominated by financial services including large banking and insurance sectors and a growing ship management sector.
Reasons for Establishing in the Isle of Man
Political and economic stability and highest regulatory standards;
- English language and favourable time zone;
- Cost-effective business environment and reputation for quality;
- Excellent external communications;
- Broadly based and skilled professional support;
- Government policy conducive to economic growth;
- Attractive quality of life, and
- Legal system based on English common law.
The high quality and good reputation of the Isle of Man's Financial Services Industry has been specifically noted in the UK Governmental review of offshore financial centres.
The Island's policy is to regulate its finance industry to international standards and to regularly update arrangements to keep abreast of any developments.
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