So far this year we have put the spotlight on the Channel Islands and Caribbean as being key jurisdictions that fall under the Offshore umbrella. In this short article, I’m keen to turn our attention to the Isle of Man, a jurisdiction that is often overlooked as a good alternative to the Channel Islands, both from a personal and professional perspective.
With unemployment rates below 1% and a population of 85,000, the Isle of Man is quickly becoming an increasingly popular destination for those who are looking for a change of environment away from the City. Arguably made world famous for it’s TT races, it is an independent English Country between England and Ireland offering favourable tax regimes. The island is also perhaps more accessible than the Channel Islands, with regular flights to Liverpool, for example, taking 20 minutes and 50 minutes to London.
The Isle of Man is a leading centre for E-business, Finance, Space Commerce, Insurance, Aviation and Shipping. Traditionally known too as a strong trusts market, Manx Foundations are becoming increasingly popular and sought after. The market also remains buoyant in the Corporate and Disputes space as well as across funds and commercial property.
Although there are fewer options to join an Offshore practice in the Isle of Man, there is a continued demand for lawyers coming from common law jurisdictions, at any level. Outside of the Offshore remit, there are a handful of strong home grown practices on island that offer fantastic quality work.
Should you wish to explore the market further, please do not hesitate to get in touch.Posted about 1 year ago