The Island has been at the forefront of IT infrastructure (both 2G & 3G, before recently adopting enhanced 4G capabilities). It has enormous telecommunications capacity and an uninterruptable power supply (having an undersea power connection with the United Kingdom as well as its' own back-up power plants) – something that provides peace of mind to twenty four hour operations such as the eGaming industry.
As well as fiduciary (trust and corporate) and wider financial services, the Island has a number of attractions for business and investors, having a significant Shipping Register, an expanding Aircraft Register, a common VAT arrangement with the United Kingdom (something that can greatly assist international businesses seeking to trade in the UK and further afield), as well as niche areas such a Space industry and BioMed cluster.
The Isle of Man is a small island, located in the middle of the Irish Sea, in the centre of the British Isles. It measures approximately 572 sq. Km (c50km in length and c18km in width), with a population of c85,000. Its capital is Douglas.
Constitutionally, the Island is not part of the United Kingdom but is a ‘Crown Dependency’ with its own government, fiscal powers legal system, judiciary etc. It has a strong, diverse and growing economy, providing excellent infrastructure from which to operate a business based on continuity, stability and service. It is also not part of the European Union though, through a protocol of the treaty of accession by the United Kingdom, it has access for the purposes of trade. This, coupled with the Customs agreement with the United Kingdom, provides for great ease in establishing and operating VAT-related businesses on the Island which are seeking to trade in the UK and/or the EU.
The Isle of Man’s legal system has its foundations in English Common Law. Whilst judicially independent, with familiar legal concepts such as equity and case law, the Island offers an attractive and flexible legal environment, evolving its statutes according to the needs of the Isle of Man and its industries.
It has been recognised by the IMF, OECD and other international bodies, major rating agencies (even though it has no debt), as well as major trading nations including the United Kingdom, that the Isle of Man is a well-regulated international financial centre and, consequently, its stable, low-tax environment attracts high-quality business and professionals from around the world.
The motto 'Quocunque Jeceris Stabit', which translates as: ‘whatever way you throw it, it will stand’ is a feature on the Island’s Coat of Arms, having been associated with the Isle of Man since about 1300AD and reflects the sense of independence of the island community.
The licensing requirements for trust and company providers (including Hillberry) on the Isle of Man are such that only businesses of substance, both financially and operationally, are granted such permission. The licensing process places emphasis on a provider’s human resources in terms of skill, integrity and experience, as well as the necessary financial soundness, to properly undertake their activities.