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©Isle of Man e business 2008 Welcome to the Isle of e business Ron Berry e business Inward Investment Advisor.

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Presentation on theme: "©Isle of Man e business 2008 Welcome to the Isle of e business Ron Berry e business Inward Investment Advisor."— Presentation transcript:

1 ©Isle of Man e business 2008 Welcome to the Isle of e business Ron Berry e business Inward Investment Advisor

2 ©Isle of Man e business 2008 The Isle of Man Background Facts Worlds oldest continuous parliament No party politics Not part of the UK Special relationship with EU

3 ©Isle of Man e business 2008 The Isle of Man Background Facts Population 80,058 52% not born on the island 1.5% unemployment Financial services account for 36% of GDP GDP forecast to increase by 6%

4 ©Isle of Man e business 2008 The Isle of Man Background Facts Standard & Poors and Moodys AAA credit rating 14 awards from international financial publications since 1999 Endorsements by UK Home office- The Edwards Report The Financial Action Task Force (FATF) Financial Stability Forum (FSF) International Monetary Fund (IMF)

5 ©Isle of Man e business 2008

6 Taxation in the Isle of Man Companies 0% income tax except for –banking –IOM land/property No withholding taxes No taxes on capital VAT as per UK

7 ©Isle of Man e business 2008 Taxation in the Isle of Man Individuals Low rates of income tax £9,200 tax-free allowance 10% rest at 18% –maximum tax £100,000 pa per individual No taxes on capital VAT as per UK

8 ©Isle of Man e business 2008 Committed to e business Charteris e business strategy report approved by Tynwald in 2000 e business Director appointed Electronic Transactions Act – a world first

9 ©Isle of Man e business 2008 Committed to e business Significant growth by 2014 Second largest sector behind banking Greatest potential for the future Five –fold growth in GDP in this sector Already running significantly ahead of projections

10 ©Isle of Man e business 2008 Committed to e business The Isle of Man where business and technology converge e business targets - e gaming e downloads e travel e money Disaster Recovery IP and IA

11 ©Isle of Man e business 2008 Telecommunications IOM telecoms market regulated since 1986 Policy – core infrastructure provider, plus strong service level competition Outcome = Investment + Customer choice

12 ©Isle of Man e business 2008 Telecoms Infrastructure Total IOM Connectivity Highly resilient multiple service provider Physical off-island fibre links via BT, C&W and MEA Significant capacity for future growth

13 ©Isle of Man e business 2008

14 Committed to e business Infrastructure Quality A range of purpose built an retrofitted high quality Data Centres Fully diverse and guaranteed electricity Fully diverse and guaranteed connectivity 24 x 7 x 365 engineering resources

15 ©Isle of Man e business 2008 Committed to e business Multiple providers of Co Location and Managed Service Data Centre Solutions 1000 rack spaces available on island.

16 ©Isle of Man e business 2008 World Class Electricity Supplies Locally generated power and electricity from UK grid Manx Electricity buy and sell power to and from UK grid Longest AC subsea cable in the world 105 km generates 40 MW Installed October 2000 New Power Station opened 2003 Combined Cycle Gas Turbine (CCGT) power station

17 ©Isle of Man e business 2008

18 Government Grants Up to 40% equipment grants Up to 40% building grants for new build Up to 40% for rent payable for the first two years Up to 40% revenue grants for marketing expenditure when targeting new markets Up to 40% training grants

19 ©Isle of Man e business 2008 Government Grants Viability of the business Future prospects Contribution to Gross National Product Employee Levels Tax residency of Beneficial Owners Average Salary Levels Spend in the local economy

20 ©Isle of Man e business 2008 A World Class Package A Government committed to supporting e business Dedicated e business legislation State of the art telecoms infrastructure World leading connectivity, a super-fast 3.5G mobile network and unmetered internet access Zero rate corporate tax, low income tax and a personal tax liability cap Generous relocation grants International accredited financial regulation Excellent consumer and data protection All the support services youd expect from an international finance centre An outstanding education system Clear air, breathtaking scenery and safe, friendly communities

21 ©Isle of Man e business 2008 Our way of life Freedom to Flourish – our promise to our people A land of opportunity where people and business find the right environment to reach their full potential

22 ©Isle of Man e business 2008

23 Contacts Tim Craine Director e business and Space Commerce Ron Berry e business Inward Investment Advisor


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