Relocation & Recruitment Advice - Isle of Man
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Geographically the Isle of Man is part of the British Islands, situated midway between England, Scotland, Ireland and Wales. This small country has a land mass of some 227 square miles (572 sq. kms) and measures at its extremities 33 miles (52 kms) by 13 miles (22 kms).
Why choose the Isle of Man?
What the Island lacks in size it makes up for in its variety of scenery which covers virtually every type found elsewhere in the British Isles, ranging from vast stretches of open moorland, thickly wooded glens to palm fringed ponds. Encompassed within over 100 miles (160 kms) of coastline there is a central range of mountains and hills lying in a North Easterly/South Westerly direction with well defined valleys leading down to rocky cliffs and sheltered bays.
In the Isle of Man, there is no capital gains tax, turnover tax, capital transfer tax. Furthermore, they don't even have stamp duties. Although there is VAT, income tax in the country is extremely low and caps at 20%. For reasons such as these, the Isle of Man seems an attractive place to relocate to or set up a business. There are many Trust and Wealth Management companies there as well as various funds, insurance companies and asset management firms.
However, the Isle of Man, along with the rest of the world, is becoming ever more transparent. They have signed numerous tax agreements with various different countries.
Requirements for working:
As stated by the government: "The Department of Economic Development operates and enforces the work permit system under the Control of Employment Act. The system allows employers to employ individuals who are not Isle of Man workers, provided that there are no suitable Isle of Man workers available to fill those specific roles.
An application for a permit is made by an employer to employ an individual to carry out a particular role or else by a self-employed person. In each case, where successful, the permit will be granted for a set period. Where necessary, an application for renewal of a permit can also be made."
For more information contact our dedicated specialist recruitment director for Isle of Man, Paul Avon on (+44) 20 7367 0605 or email email@example.com