FAQs

Advocates, Solicitors & Attorneys. An incorporated legal practice

  • Is the Isle of Man part of the United Kingdom?

    No. It is a crown dependent territory but it is a completely separate legal jurisdiction. Geographically, it is part of the British Isles.

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  • Is a Court Order from England enforceable in the Isle of Man?

    Generally no - without further Manx Court Order. The Isle of Man High Court of Justice is the Court of competent jurisdiction for the Isle of Man. But there are reciprocal arrangements as to registration of Judgments. Specific advice must be sought in each individual case.

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  • How do I enforce a debt against a Manx resident or entity?

    You will need local advice on the appropriate route. It could be by way of High Court Claim Form or statutory demand or registration of a foreign judgment (in limited cases). A claim letter from Manx Advocates is the normal first step.

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  • Do Manx Courts follow, by way of precedent, decisions of the Courts of England and Wales?

    We are a common law jurisdiction. Decisions of the Courts of England and Wales, in particular the Court of Appeal and the Supreme Court, are regarded as being highly persuasive before the Manx Courts, and in the absence of a Manx authority on a specific point, or a unique condition, the Courts will look to follow clear English precedent.

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  • Is the Isle of Man a low tax area?

    Being a separate legal jurisdiction the Isle of Man has its own tax laws. Taxation rates are generally lower than in the UK. There is no Capital Gains Tax or Inheritance Tax. However the Island should not be viewed as a haven. It has high standards of fiscal morality and a strict anti-money laundering code.

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  • I have heard of Isle of Man Companies. What are these?

    It is possible to incorporate both private and public limited companies. These may be limited by shares, by guarantee or by a combination of the two. Unlimited companies may also be created. The Isle of Man has a standard zero rate of corporate income tax, although a higher rate of 10% is applied to banking activity and retail businesses with annual taxable profits of £500,000 or more and a rate of 20% applies to income derived from land and real estate. In addition, Limited Liability Companies (LLCs) may be formed. It is also possible to form general partnerships and limited partnerships. Both types of partnerships as well as LLC's are deemed to be transparent for tax purposes so that it is the partners/members that are subject to tax on the income of the partnership or LLC. Remember that there are no capital taxes in the Isle of Man, and no separate corporation tax regime.

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  • I have heard of the mutual funds industry in the Isle of Man. What is available?

    Collective investment schemes are well regulated in the Isle of Man. There is a wide range of unit trusts and OEIC's.

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  • Is there any asset protection legislation in the Isle of Man?

    No. All properly formed Isle of Man Trusts are asset protective and have been since the passing of the Fraudulent Assignments Act 1736.

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  • Is the Isle of Man a member of the Organisation for Economic Co-operation and Development (OECD)?

    Yes. As a member, financial products and related services have access to markets where OECD membership is an entry requirement.

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  • Do I need Manx probate for a deceased person who has assets on the Isle of Man?

    Generally yes, contact our Private Client department for more details.

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