Isle of Man
Financing a Business in Isle of Man
Recent forum posts
-
Is hiring a content writing agency worth the money for a small business?
Honestly, yes — if you choose the right agency. A good content writing agency helps small businesses look professional, rank better in search engines, and attract the right audience.If you’re not great at writing or you’re too busy running the business, outsourcing your content saves time and stress. Just make sure you’re clear
Total Posts: 1 Last post by samantharoto92
-
Company setup in Dubai
Right start is essential for a Perfect Business”UAE provides a reputable and international Platform for all kind of businesses. Setting up in the UAE is an excellent choice because of the regulatory regime and the geographical time belt.Dubai has created a business environment that is well regulated without being unduly restrictive and offers operating conditions that are amongst the most
Total Posts: 8 Last post by oliverjhon
Financing a Business on the Isle of Man
There are a number of government and tax financial incentives for small to medium UK businesses looking to invest in the Isle of Man.
Tax Incentives
The Isle of Man has attractive tax incentives for foreign investors including:
- Coroporate income tax between 0 and 10%
- Personal income tax between 0 and 20%
- No capital gains tax, wealth tax, stamp duty, or inheritance tax.
- Low import and export duties.
Government Finance Incentives
Financial Assistance Scheme
The government offers various packages to qualifiying businesses who fulful certain environmental and commercial criteria. The incentives include:
- Up for 40% for new equipment
- Up to 40% in building grants, for either new build or rent.
- Up to 50% towards training of staff
- Up to 40% revenue grants to assist with research and development, marketing, relocation, consultancy and environmental standards.
Further information can be found at
www.gov.im/dti/grants/financeassist.xml
Business Support Scheme
The Business Support Scheme offers a grant of up to £4500 towards business projects. The scheme also offers consultancy, business solutions and business development support (inlcluding mentorship)
Further information can be found at
http://www.gov.im/dti/grants/bss/?menuid=7836
Private Finance
A good starting point for investigating private finance options on the island is the Isle of Man Finance website www.gov.im
The website offers free advice for businesses and details on the taxation and finance regulations. It is advisable to consult an accountant before making any formal approaches to a bank and to make sure that you have an extensive business plan in place.
Click here to Ask an Expert about Financing a Business in Isle of Man
Organisations that can assist with Financing a Business
-
> Need to open a bank account in this country?
Business Banking advice Advice on which type of bank account would best suit your business. Help making payments – and getting paid.
