Company

Isle of Man Govt

 

 

A few interesting facts about the Isle of Man to take into account.

Economy


Firstly, re-locating to the Isle of Man means saving a bundle on tax. Nobody pays no capital gains tax, wealth tax, stamp duty, or inheritance tax. This is because the Isle of Man is a low-tax economy. Additionally, the top rate of income tax of 20%. The corporate tax rate is 0% except for banking profits and rental income, which is set at 10%.

Key sectors of the economy include offshore banking, manufacturing, and tourism. The island is also a popular film location. Perhaps more surprisingly, the Isle of Man is a centre for private space travel companies.

Culture


Isle of Man has both Celtic and Norse cultural origins. However, because the island is so close to the UK, British influence has been dominant since the mid-18th century. In recent years, there has been an increased interest in the Manx language, history and musical traditions. Manx music has Celtic, Norse and other influences, including British and Irish influences. Rock, blues, jazz and pop are also popular on the island.

Food and agriculture


As it is an island, seafood has traditionally been a large part of the Manx diet.  Popular fish include Manx kippers and the Queen scallop, which is renowned for its sweet, light flavour.

There is cattle, sheep, pig and poultry farming too. Manx lamb is highly regarded, and the Loaghtan, an indigenous breed of Manx sheep, has a rich, dark meat.

You will find a variety of Manx cheese in many UK supermarkets. There is also Manx beer! Established in 1850, Okells is the island’s largest brewer.

Isle of Man TT


The International Isle of Man TT (Tourist Trophy) Race is a motorcycle event that takes place every year in May or June. This is one of the star attractions for tourists. The race has run since 1907. The TT takes place over two weeks and visitors from around the world head to the island for what is regarded as one of the “greatest motorcycle sporting events of the world.”

 

What kind of jobs are on offer?


A vast range of jobs within different sectors are available. Jobs on offer cover a number of industries. These include:

  • ICT

  • Financial and Professional Services

  • Nursing

  • Teaching

  • Manufacturing and Engineering


In addition, the Isle of Man has a very active e-Business sector. This accounts for around 30% of the economy.