Guy Wiltcher of Locate Isle of Man explores the island as a relocation opportunity – a secure, vibrant, sustainable location for individuals, families and businesses to live, work and invest
The Isle of Man has always been a popular holiday and short-break destination for those living in the UK and beyond. However, many are now choosing to make a permanent move to the stunning UNESCO Biosphere-designated island, which has some of the lowest crime rates in the British Isles.
Additionally, with the overall UK tax burden on track to rise to the highest since the Second World War, and the forthcoming abolition of the “Non-Dom” regime and changes to inheritance tax rules, the Isle of Man’s benign tax environment has never been more attractive.
One of the most uniquely beautiful places in Europe, the Isle of Man is a jewel in the Irish Sea. At 33 miles long and 13 miles wide, it offers a unique combination of space to thrive, financial rewards and a well-connected, safe community.
It offers an unbeatable standard of living in a truly stunning environment. In fact, the Isle of Man is the only entire nation to have been awarded UNESCO Biosphere status. It is the safest place to live in the British Isles, with a crime rate significantly lower than in England and Wales. Furthermore, it boasts 95 miles of coastline, 32 unspoilt beaches, 18 scenic glens and 26 official dark sky sites.
Options abound
For those looking to make the Isle of Man their home, there are a range of properties available to buy or rent, from secluded country estates set in acres of grounds, to modern homes with stunning sea views. Unlike the Channel Islands, the property market is open and prospective residents are not restricted in which properties they can purchase.
Residents also enjoy the peace of mind that the island is one of the safest places to live in Europe, with very low crime rates, and that children will receive a high standard of education in one of the top-quality public and private schools.
The Isle of Man also has excellent connectivity with daily flights to 11 airports in the UK and Ireland, including Liverpool, Manchester and London, in addition to and daily ferry services to Liverpool or Heysham. There is also a private jet terminal with executive lounges and crew rooms, and an abundance of helipads!
The Isle of Man is financially stable and politically progressive, and welcomes both individuals and businesses with its financially rewarding system offering no capital gains tax, no inheritance tax, no corporation tax, no stamp duty on properties and low rates of personal income tax. Furthermore, there is a tax cap of £200k per person, per annum.
Ultimate work-life balance
Home to a wide range of economic sectors including e-business and e-gaming, fintech and emerging technologies, cleantech, biomed and manufacturing; generous incentives are available for relocating businesses. Individuals can fulfil their career aspirations in the island, but also find the right work-life balance. There is a Manx saying, “Traa-dy-Liooar”, which means “Time enough”, and with the average commute being just 20 minutes, the Isle of Man allows its residents to let go of stress, enjoy extra downtime and embrace life to the full.
One of the many benefits to living in a stunning island location is that there are shorter commute times, which allows more time to enjoy what makes you happy, and there is plenty to do with your spare time in the evenings and weekends. You can choose from a wide variety of eateries and pubs across the island and there are many fantastic leisure activities to get involved with.
It might be a small island, but with much of it currently uninhabited, there is plenty of open space for eight challenging golf courses that are playable all year round. The award-winning uncrowded courses wrap the rugged coastline and boast stunning views, and will test even the best of golfers.
Given the vast and beautiful coastline, it should come as no surprise that the Isle of Man has a wide range of watersports activities on offer. Sailing is very popular, and there are several yacht clubs based around the island. With kayakers, paddle boarders and scuba divers aplenty, spending evenings and weekends at sea is the norm.
The Isle of Man has always been a mecca for motorsports enthusiasts. As well as the world-famous TT motorcycle races, there are a plethora of two- and four-wheel events taking place all year round, giving opportunities to get involved as a competitor or a marshal. The excellent driving roads have spawned a variety of sports and classic car clubs.
Residents are also blessed with acres of green lanes and open spaces that are perfect for walking, cycling and horse riding. There are plenty of private stables with many competitions and shows throughout the year as well as a polo club and annual tournament. Whether riders choose the scenic countryside or the beautiful beaches, there’s ideal terrain to be enjoyed on horseback, with breath-taking views guaranteed.
So, whether you prefer to spend your spare time recharging your batteries or running on them, the Isle of Man can offer the right balance for you.
About the author
Guy Wiltcher is Inward Investment Partner for Locate Isle of Man, and oversees high-value active entrepreneurs, interested in relocating to and investing in the Isle of Man.
Further information
To discover more about the Isle of Man, the opportunities available, and the range of Business and Worker Migrant visas available to those wishing to relocate from beyond the Common Travel Area of the UK please contact: [email protected] or visit www.locate.im
