A: The Isle of Man has a wide and diverse economy with regulation and consumer protection at the very heart of its ethos. The Island is proud of its credentials as an OECD 'white-listed' jurisdiction for transparency and is internationally recognised by the IMF, FATF, EU Code of Conduct and other international bodies as meeting our international obligations.
Q:What are the most popular financial products in your jurisdiction? How can they protect the interests of investors?
A:The Isle of Man is already the favoured location for UK listings (i.e. London Stock Exchange) with 15% of the Alternative Investment Market (AIM) top 100 incorporated in the Isle of Man and more than 50 companies overall.
- There are currently 4 Chinese companies listed on AIM using IOM;
- Isle of Man companies are listed, or recognised for listing, on other major stock exchanges such as Hong Kong, Toronto, Luxembourg, Singapore, Dublin, New York.
Q:What kinds of professional financial services (trust & foundation/corporate structure) can your jurisdiction provide? What are your existing clients from China? What potential clients do you want to attract from China and how?
A:The Isle of Man is widely recognised as a leading Offshore Financial Service Centre offering client the highest international standards of regulation and probity. As a well established service centre, we are able to offer clients a full suite of financial products; Companies, Limited Partnerships, Trusts or Foundations.
The Island has 0% corporate tax, capital gains tax or withholding tax.
The Isle of Man has established links to Chinese business through various structures. We offer a platform for e-Gaming, import and export of goods, ship management, aircraft and yacht administration together with property and wealth ownership structures. The Island also benefits from support of a pro-space Government, the Isle of Man plays host to a number of global satellite companies, new space start-ups and international space associations as well as being able to offer orbital slots and launch licences. We believe the Isle of Man offer clients a unique opportunity.
Q:As an offshore financial center, what are you going to do in terms of balancing the need for more transparency with the need to protect the privacy of clients?
A:The Isle of Man Government continues to develop strong business relationships throughout the world. In October 2010 a Tax Exchange Information Agreement (TIEA) was signed with The Government of The People's Republic of China. The agreement (effective 1st January 2012 China, 6th April 2012 Isle of Man) enables governments to enforce their domestic tax laws by exchanging, on request, information relevant to a tax matter covered by the agreements.
