The Isle of Man is located in the Irish Sea equidistant from England, Scotland and Ireland. The island consists of many peaks of over 1,500 feet and deep glens cut by rivers flowing from the highland. The scenery around the East, south and west coast is predominately wilds and picturesque and the island consists of 221 square miles.

The island has a temperate climate and due to the influence of the sea rarely experiences extremes of either heat or cold. The monthly average of sunshine is 130. The sunniest months are April, May and June when the monthly average is 210 hours. Rainfall is variable, dependent upon locality and frost and snowfalls are infrequent.

The Isle of Man, confronted with decline in its two principle sources of income, agriculture and tourism now places greater reliance upon industrial investment and its financial center activities which now contribute more than 30 per cent to the Gross National Product.

To support the government’s decision to become a leading European tax haven for offshore funds, the Isle of Man subsequently adopted an industrial aid and incentive package which is considered to be one of the most attractive in the western world. Companies which satisfy the environmental and financial criteria of the Manx Government are entitled to capital gains of 40% of costs of new buildings or improvements in building and on new plants and machinery. First year operating grants of 40% of non-recurring costs are granted as well as training costs of up to 50% of costs incurred by employers and 40% of marketing costs in new ventures. Investment grants are 40% of outlays invested to conserve energy and reduce costs while 40% of costs of employing consultants to advise on methods of applying micro-processing technology or manufacturing processes are allowed.

Communication

The Isle of Man is served by Ronaldsway Airport in the South of the island some eight miles from Douglas. There are regular services on at least a daily basis to London, Manchester, Dublin, Belfast, Blackpool, Liverpool and Glasgow, and also services on a less frequent basis other cities in the United Kingdom. There are no direct international links.

The island has some 500 miles of road, mostly maintained to a high standard and main roads connect all the major centers of population. Rail services are seasonal and largely provided for tourist purposes.

Telephone, telefax and telex services are excellent and lines readily available. The postal services work in very close liaison with those in the United Kingdom and the service is of a high standard. International courier services are available with connections via Heathrow.

Population

The population of the Isle of Man is approximately 70,000 resulting in a population density of roughly 300 people per square mile.

Language

The official and spoken language is English. However, owning to the islands Celtic origins it also has its own Gaelic language, which is spoken by local enthusiast and it's shortly to become part of the curriculum in state schools.

Political Structure

For over 400 years the Isle of Man was part of an independent Norse kingdom which disintegrated in the 13th century, leading to a dispute between the kingdoms of Scotland and England. The ruler of the Isle of Man was known as the King (later Lord) of Mann and the English parliament came to exert authority in the island. The Lordship of Mann was purchased by the English Crown, as confirmed by the (United Kingdom) Isle of Man Purchase Act 1765, which led to the direct rule from England until the island’s were separated from England’s in1866. Throughout this period an assembly existed in the Island, known as Tynwald. Tynwald consists of and Upper House (the Legislative Council, consisting of eight members elected from the House of Keys , the Bishop of Sodor and Man and the (non-voting) Attorney-General and Lower House of Keys consisting of 24 members who are elected for five years and, with the Crown, forms the parliament of the Isle of Man. Each branch has its own chairman, the President of Tynwald who also acts as the president of the Legislative Council of Ministers, a Chief Minister and not more than nine other Ministers. The Chief Minister is appointed by the Governor on the nomination of the majority present and voting of Tynwald and he holds office through out the lifetime of each Tynwald, unless at least 17 members resolve that they have no confidence in him. The Ministers (the President of Tynwald and the Speaker of the House of Keys may not hold this office of Chief Minister) are appointed from Tynwald by the Governor (acting on the advice and with the concurrence of the Chief Minister) or until the Chief Minister ceases to hold office. The Chief Minister assigns the departments to the Ministries (Constitution acts 1919 to 1990).

The government of the United Kingdom is responsible for overseas representation and defense and an annual contribution is paid to the United Kingdom Government for this service.

Legal System

The Isle of Man law is based on English Common Law and much of the civil law legislation is modeled on United Kingdom Acts of Parliament.

The Island has its own courts and the Heads of the judicial system are known as ‘Deemsters’. Advocates of the Manx Bar have the combined role of both Solicitors and Barristers and are able to appear in both the Lower and High Courts. The ultimate court of appeal is the English Privy Council.

Taxation

Apart from a limited treaty with the United Kingdom the Isle of Man is not party to any double taxation treaties.
Isle of Man residents pay only income tax on their worldwide income at a rate of 15 per cent for the first chargeable amount and 20 per cent thereafter. There are no wealth, capital gains, gift or inheritance taxes.