Isle of Man - Why so rarely discussed?

[Billybob69]

Hello all,

I'm wondering why the Isle of Man is so rarely brought up as an option, particularly for British and Irish digital nomads. It seems to be a very sensible place to run an online business from to me. Is the lifestyle mainly what puts people off, or are there hidden taxes or traps I am missing at first glance?

Thanks,
Bob

 

[Sols]

It's a solid jurisdiction. No traps.

 

[JohnnyDoe]

It used to be good, now it primarily serves as a sanctuary for fridge-like women, four-horned sheep, tail-less cats and other aberrations of nature.

 

[Mister Sir]

LoL

 

[JohnLocke]

You may do a Google search on the forum:

site:offshorecorptalk.com isle of man

and you will find a lot of threads around here
https://www.offshorecorptalk.com/threads/about-isle-of-man-corporate-services.28765/
https://www.offshorecorptalk.com/tags/isle-of-man/

 

[manukahoney]

It's absolutely fine if you are into British rural lifestyle. Not much to do, the weather is fine and it's well connected to the UK (so you can fly anywhere with a stop in London). It's a bit sleepy though.

 

[Billybob69]

Is there any way to tax efficiently get money out of a IOM company? From my understanding personal income tax is paid on the dividends there, not the 0% that you may think at first glance.

 

[FantomOffshore]

I am wondering how much IOM crypto laws differ from the UK.

 

[oldtimer2]

IOM - very few DTA's. If DTA"s are important then you will need the complications and costs of a dual structure using an intermediary company in a country (that has many DTA's) and that has a DTA with IOM, such as Malta.

 

[FantomOffshore]

IOM - very few DTA's. If DTA"s are important then you will need the complications and costs of a dual structure using an intermediary company in a country (that has many DTA's) and that has a DTA with IOM, such as Malta.

Singapore also has a DTA with IOM which would allow for a crypto structure in theory. IOM seems interesting to me. Thanks for putting it on my radar @Billybob69.

 

[Billybob69]

I am wondering how much IOM crypto laws differ from the UK.

From what I understand it is a bit better than the UK, and apparently that because the government there is small you can actually get in touch and find clarification with things. You can get certified to create coins etc too but I think that will require some amount of work, but its nice that you seem to be able to do things above board there and the government generally seems pro crypto

 

[myhand]

Yet it is not a place you want to live if you want a luxury lifestyle!

 

[JohnnyDoe]

Yet it is not a place you want to live if you want a luxury lifestyle!

No if luxury for you is living in a hive and enjoying food delivery.
https://www.cowleygroves.com/property/arragon-mooar-old-castletown-road-santon-im4-1hb