But pathway to citizenship isn’t cheap. Anybody conducting investment business, either in or from the Isle of Man, is required to hold a Class 2 licence under the Financial Services Act 2008. This means that an applicant who has entered the common travel area and who has been through immigration does not require ‘leave to enter’ any other part of the common travel area. Each jurisdiction offering second citizenship has its own merits and pitfalls. The Isle of Man, United Kingdom, Channel Islands and the Republic of Ireland collectively form a common travel area. An investment of GBP 5-million accelerates the process and allows for residency status after three years and GBP 10-million after only two years. Effective tax planning solutions that mitigate liabilities and maximise returns. Strategically located in the Northern Irish Sea between Great Britain and Ireland, the Isle of Man or IOM is a self-governing Crown dependent island yet independent from the UK. You can then apply for a two-year extension and eventually ILR and then British Citizenship. Isle of Man resident companies are taxed at zero percent, with the exception of banking and large retail outlets being taxed at 10 percent and companies profiting from land and property in the Isle of Man 20 percent. The UK has a well-known Tier 1 Investor and Entrepreneur Visa programme which enables investors to live and work in the UK for varying amounts of investment into the UK economy. P… Funds must remain invested during the entire Leave to Remain period. Anybody conducting investment business, either in or from It’s known for its rugged coastline, medieval castles and rural landscape, rising to a mountainous center. pension products. Post your application to us in the normal mail, whilst the IOM Post continues to deliver or 2. You will be required to invest in Isle of Man trading companies except those involved in property investments. Guidance on the licensing requirements for setting up Investment Businesses in the Isle of Man. However time spent in the UK or other parts of the CTA do not count as being absent from the island. Licenceholders are required to follow all anti-money If you are an entrepreneur looking to set up a fintech or biotech business or if you are an investor and would like to bring your children up in a friendly safe island environment then the answer is simply yes it is definitely an option that should be high on the list of considerations. For details of the regulatory framework for investment businesses, Such investment businesses provide their services not only to Banks that conduct investment business are required to hold a Regardless of which category you choose to eventually obtain a British passport for you and your family you will need to abide by strict residency requirements. Apply for a package today and our team will provide you with additional information suited to your needs. Asset ownership solutions tailored to manage risk, tax and privacy issues for yacht and aircraft owners. You will need to lawfully spend five years in the Isle of Man which means you cannot be absent from the island for more 180 days in any 12 months. Clients seeking second citizenship need to be interrogated as to their aspirations and reasons for desiring a visa from a country that they were not born in and may never have lived in before. Businesses that provide services to Collective Investment Schemes However, time spent with valid leave in the UK or The Channel Islands is not considered an absence. While foreign affairs and defense is the responsibility of the UK, IOM assumes full control over internal matters including fiscal, social and financial policies. There is also the possibility for Investor visa applicants to potentially invest in a much wider context than those applying through the UK. You must be self-employed or director of your IOM business and create a minimum two full-time jobs for a full year. 2008. Trusts, Corporate, Funds & Advisory | Abacus. There are no capital gains, inheritance and wealth taxes. Second Citizenship – Is the Isle of Man an Option. residents of the Isle of Man but also to the expatriate If indefinite leave to remain is granted and all aspects of an application are met, a British passport can be obtained. managers of captive insurance funds) to brokers selling life and the eb5 immigrant investor visa attracts foreign capital into the usa and creates jobs for american workers. In June 2016 the privileges were extended to certain visa types for Chinese and Indian nationals. All you need to know about international, authorised and exempt Collective Investment Schemes. ILR can be accelerated if your business prospers, you invest more and you create more than 10 jobs. Visas are grated for an initial period of 40 months, after which a 24 month extension can be applied for and after 5 years a successful applicant can apply for indefinite leave to remain. licence under the Financial Services Act A full suite of fund solutions delivered with innovative technology and superior service. 70 different nations are currently represented here and this is something that the Island has a political desire to continue. Investment businesses in the Isle of Man are required to hold a Class 2 licence. It has evolved into an off-shore financial haven allowing for low income taxes and fiscal advantages that can eventually lead to British Citizenship. Committed to preserving wealth through the establishment of effective tailored solutions. Second citizenship programmes can now be found in many different jurisdictions, they started in the Caribbean in the seventies to boost local economies and provided clients with visa free travel to certain countries. The Isle of Man has until very recently not promoted this route for foreign nationals to legally live and work on the Island, but with the market for second citizenship programmes becoming ever more popular but competitive the Isle of Man has something a little different to offer.

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