The Isle of Man is a self governing, British Crown Dependency located in the middle of the Irish Sea with its own Government and laws.
The Manx parliament known as Tynwald was founded over 1,000 years ago and is considered to be the oldest continuous parliament in the world. The Isle of Man is not part of the United Kingdom and has no representation in the British Parliament. The Isle of Man is not part of The European Union, but it has a limited relationship with the Union under Protocol 3 to the United Kingdom’s Act of Accession in 1972. This allows for the free trade of products and services across the EC.
The Isle of Man has a standard rate of corporate income tax of 0%. This applies to all business except for licensed banking business and corporate income from Manx land and property. Personal income tax rate and allowances are competitive. Individual income tax liability is capped at £120,000 per annum. There is no capital gains tax, inheritance tax or wealth tax.