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In the February budget, Treasury Minister Allan Bell MHK introduced a much talked about personal income tax cap of £100,000 which is designed to attract entrepreneurial investment and stimulate economic activity in the Island. This has created a great deal of interest from a number of high profile wealthy entrepreneurs who are now looking at the Island as a desirable residence with the attendant benefit of establishing a new business.

Multi-million pound businesses in the Isle of Man – including branches of leading high street and private banks – could in future benefit from a proposed new tax cap on profits from their annual income.

Whether it is legal advice, fiduciary or accounting services, the Cains group has a strong reputation for its restructuring and insolvency work and its ability to provide a seamless service to its clients.

The Isle of Man presents a compelling proposition for ultra high net-worth individuals. It has no capital gains or inheritance tax and has no intention of introducing them.

The Isle of Man has retained its 'AAA' sovereign credit rating from leading international rating agencies Standard & Poor's and Moody's.

Further to the FATCA Brief issued to clients of Appleby in November 2013, we present below a tailored addition to the Brief specific to investment funds that are domiciled in a jurisdiction that has either entered, or has confirmed it will enter, into a Model 1 Intergovernmental Agreement (IGA) with the US Treasury in respect of the US Foreign Account Tax Compliance Act (FATCA).

A trustee is under a strict obligation to distribute the trust assets in accordance with the trust. In many cases this is simple, as where one person is entitled to the distribution.

The Isle of Man Government’s press release of August 2 2005 promised the creation of a new type of business friendly company that would be simple and inexpensive to administer, and the Companies Act 2006 came into effect on November 1 2006 creating the 2006 Act Company.

Global mobility and the portability of Corporate Structures has become increasingly important to Clients and their Advisers, who often move corporate entities from one jurisdiction to another.

The Isle of Man Companies Act 2006 (CA 2006) introduced what is commonly referred to as the New Manx Vehicle (NMV). Companies incorporated under the Isle of Man Companies Act 2006 provide a more modern and dynamic form of corporate entity ...

Manx tax legislation does not specifically refer to Trusts and instead taxes according to a mixture of both residence and source basing factors in each case.

The Isle of Man has established itself as a premier jurisdiction for the formation and administration of Trusts and Foundations. With a strong legal framework...

1 February 2014 may be a Saturday, but it is still a significant business day in the Isle of Man financial services sector.