|
Isle of Man: Country and Government
Back to
Isle of Man: Business, Taxation and Offshore
In this Section:
- Isle of Man the Country and its
Economy
- Isle of Man Executive Summary
- The Economy of the
Isle of Man
- Isle of Man Service Directory
- Map of the Isle of Man
Isle of Man Geography
The Isle of Man is situated centrally in
the Irish Sea and the British Isles. The Island spans 52
kilometres from north to south and 22 km from east to west
at the widest point. The coastline, which covers 160 km
in length encompasses an area of 572 sq. km. Even though
the island is small, the scenery is varied. A range of hills
stretch obliquely across the Island and in between lie well
defined valleys. Sandy beaches meet the Island's flat northern
plain which contrast markedly with the rocky cliffs and
sheltered bays around the rest of the coastline. The fertile
northern and southern plains are cultivated, comprising
two thirds of the land mass.
The Island has a temperate climate due to
the influence of the surrounding Irish Sea. Snowfall and
frost are rare in winter. February is normally the coldest
month, with an average daily temperature of 4.9 C and is
often fairly dry but rather windy. April, May and June are
the driest months whilst May, June and July are the sunniest.
The average daily maximum temperature in the summer months
is around 17.6 C and thunderstorms are rare.
Back to top
Isle of Man Population, Language and Culture
Population density is only 148 people per square
km. The major settlements are Douglas (population 26,218 according
to the 2006 census) in the east and neighbouring Onchan (9,172)
and Ramsey (7,309) in the north. The 2006 Census recorded
a resident population of 81,952 representing an increase of
almost 5% since 2001. This increase occurred mainly within
the working age range through the immigration of economically
active people, which reflected the expansion in the Manx economy
over the previous 5 years. Estimates for 2011 put the population
at just over 84,600.
English is the official language and a Manx dialect is also
spoken. The Manx Iron Age lasted from around 500 BC to 500
AD and the Celtic traditions established during this period
are fundamental to the culture today. Manx Gaelic was the
everyday language of the people until the nineteenth century
and is currently enjoying a revival. Sea trade developed and
flourished due to the Island's strategic location in the heart
of the Irish sea. Cultural influences from Scandinavia in
the north, Europe in the south, Britain and Ireland have all
touched the Island. Christianity was introduced as early as
the sixth century and became integrally linked to the lives
of the Manx people.
In 1265 at the end of the Norsk Kingdom the
Island became a pawn in a game of war between Scotland and
England. Sovereignty finally passed to the English Crown at
the beginning of the fifteenth century. In the eighteenth
century the Island's offshore independence made it a major
centre for the smuggling trade, causing a considerable loss
of revenue to the English Treasury. The British Government
intervened and in 1765 the entire Island was purchased for
GBP70,000. A period of direct rule from Westminster followed
and it was not until the mid-1800s that the Island regained
a measure of control over its internal finances. Since that
time political power has gradually diverted from London to
the Island and a colonial-style administration has given way
to a modern democratic government.
The people of the Isle of Man have a great respect
for their rich cultural heritage which is a testimony to their
ability to adapt and exploit the changing circumstances of
history.
Back to top
Isle of Man Relationship with the EU
The Isle of Man is not a member of the EU.
Protocol No 3 of the UK's Treaty of Accession to the UK excludes
the island from most of the effects of the Treaty, other than
those concerning trade in goods.
There is free movement of industrial and agricultural
goods between the island and the UK; and between the island
and EU and EEA countries. The island applies the external
common customs tariff of the EU.
The Isle of Man chose to become part of the
EU's VAT regime, but is not part of the EU fiscal area in
any other respects. The island's VAT scheme is largely similar
to that of the UK. For some types of business activity inside
the EU it is an advantage to be within the scope of VAT.
The Isle of Man's constitutional position in
relation to the EU cannot be changed without unanimous agreement
of the member states, including of course the UK. The island
sees its current relationship with the EU as beneficial, and
does not seek to change it.
Back to top
Isle of Man Government
The Isle of Man is a self-governing British Crown dependency.
The Queen of England, as Lord of Mann, is Head of State, and
she is represented on the Island by the Lieutenant Governor,
who is appointed by the Crown for a five year term. The Government
of the United Kingdom is responsible for the conduct of the
external relations and defence of the Island.
The Island's ancient parliament, Tynwald, is the oldest legislature
in the world in continuous existence, dating back to Viking
origins over one thousand years ago. Its Parliament has two
branches: the House of Keys and the Legislative Council. The
majority of Members sit as independents, and the virtual absence
of party politics encourages a high degree of consensus. This
has contributed to the remarkable stability of the Manx system.
The island has its own courts, but the body of the law is
based on English common and civil law. English precedents
are often followed. Some UK legislation is adopted as such
by the Isle of Man by agreement with the British Government.
The ultimate court of appeal is the English Privy Council.
Advocates at the Manx bar have the fused rights of solicitors
and barristers.
Back to top
Back to
Isle of Man: Business, Taxation and Offshore |
|
Strategic Partners
Lowtax Network Portal: 'Low-tax' business and investment in the top
50 jurisdictions covered in exceptional detail.
Tax News: Global tax news, continuously updated through the day.
Investors
Offshore: The independent offshore and alternative investment guide
for expatriates and the globally aware investor.
Law & Tax News: Daily
news and background data on tax and legal developments for international business.
Offshore-e-com: A topical
guide to offshore e-commerce focused on tax and regulation.
Lowtax Library: One of
the web's largest and most authoritative business and investment information
sources.
US Tax Network: The resource
for free online US taxation information, covering: corporate tax, individual
tax, international tax, expatriates, sales and e-commerce tax, investment
tax.
Personal Business Tax
Guide: Providing essential tax news and information on business for
contractors, entrepreneurs, professionals, small businesses, artists, sportspersons
and entertainers.
Offshore
Trusts Guide: OTG publishes news, features and newsletters on the
use of offshore trust structures.
TreatyPro:
The online tax treaty resource.
|
Lowtax Library
One of the web's largest and most authoritative business and investment
information sources. Alongside topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL
NEWS SUBSCRIPTION
Our 16 constantly updated intelligence
reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer
pricing. Reports are available for immediate downloading or as subscription
services with news pages.
|
Advertising
& Marketing
With over 50,000 qualified readers every month our web-sites offer
a number of cost effective, targeted advertising, sponsorship and marketing
opportunities:
- Display advertising - from 'skyscrapers' to 'buttons'
- Content/article submission and sponsorship
- Opt-in email marketing
- On-line Services Directory listings
Click
here to learn more or contact Charles Bell on +44 (0)1424 205 425
or at charles@bsi-media.com
and he will put you in touch with your regional rep.
|
News & Content
Solutions
Could your corporate web-site or newsletter benefit from incorporating
regularly updated news and content tailored to serve your clients' interests?
We can provide a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
- Customised, personalised 'own-brand' news services
- Newsletter content and management
- News Headline Tickers
Click here
to learn more or contact Charles Bell on +44 (0)1424 205 425 or at charles@bsi-media.com
and he will put you in touch with your regional rep.
|
|
|