Trust law reform imminent on Isle of Man
Posted on April 21, 2022← Back to Info Centre
A new Isle of Man draft Trust & Trustees Bill is currently up for consultation. The stated aim of the proposed new legislation is to make Manx trusts and trust law clearer, more certain and more convenient to use for users and local trust practitioners, whilst also making the local trusts sector more competitive in the global market.
Proposals for change were first made by STEP around 7 years ago since which time work has been undertaken with the Island's financial services regulator and government to assess the policy reforms necessary.