The Isle of Man: The best place to live?

In a word, yes. For those who are unsure of where the Isle of Man is, it’s a small Island set in the middle of the Irish Sea and approximately 84,000 people are lucky enough to call the Isle of Man their home. The Manx countryside is idyllic and is perfect for bringing up a family and for helping achieve the right work/life balance most people these days are seeking, and given the recent pandemic, for the Island’s locals, it really has been “there’s no place like home”.

In a word, yes.

For those who are unsure of where the Isle of Man is, it’s a small Island set in the middle of the Irish Sea and approximately 84,000 people are lucky enough to call the Isle of Man their home. The Manx countryside is idyllic and is perfect for bringing up a family and for helping achieve the right work/life balance most people these days are seeking, and given the recent pandemic, for the Island’s locals, it really has been “there’s no place like home”.

2020 has already proved to be a whirlwind year. In March, the Isle of Man along with the rest of the World, went into lockdown and the Island’s borders were shut to the general public, with residents being allowed back so long as they self-isolated for a 14 day period when they returned home. The Island is now taking a phased approach to opening up its borders in order to protect its residents as much as possible. Today we have entered the next phase, Level 4 (20th July).

So why consider moving here?

The Isle of Man is an independent jurisdiction with its own legislation and tax laws.

Typical tax rates for the Island include a top rate of income tax of 20%, corporation tax of 0% (with some exceptions) and no capital taxes.

Although it is not part of the UK and shares no part of its income, corporation or capital tax systems with the UK, it is classed as a British Crown Dependency and shares strong connections with the UK including being part of the UK’s VAT and health systems.  It also has good communication and transport links with the UK as well as a stable political environment and low crime rates.

While the Isle of Man has many business advantages, whether you’re considering moving back to the Isle of Man or looking for a new place to call home, the Island has a lot to offer.

  1. Work-Life Balance actually exists

The Isle of Man is the perfect place to achieve a work-life balance, so it doesn’t have to be all boardrooms and conference calls. Firstly, the daily commute doesn’t take all that long, with the average commute taking 15-20 minutes. If you live somewhere where it takes longer than 20 minutes, you will generally have lots of lovely scenery to view on your commute to and from work which will set you up for the day and help you unwind in the evening. Secondly, we have beaches, the perfect places to exercise outside, and not forgetting lots of fantastic places to eat and drink, all of which are in close proximity and easily accessible after work. 

  1. The safest place to live in the British Isles

Crime rates in the Isle of Man are extremely low and it remains the safest place to live in the British Isles. While COVID-19 continues to be a threat around the World, the Isle of Man has also proved itself to be a safe haven and is currently COVID-19 free.

  1. You can escape the hustle and bustle

If you’ve had a full-on week at work and you want some downtime, it’s very easy to escape the hustle and bustle. With the outdoor space we have, it can inspire anyone to want freedom from the daily grind of city living.

  1. Fantastic Manx Produce

The Island is particularly known for its cheese, speciality beers, beef, kippers and queenies. If you move here, you’ll be lucky enough to have access to them all of the time!

  1. Great job opportunities

While we appreciate that we are living in a global pandemic, there are still many wonderful job opportunities on the Island. As a leading international business centre renowned for its innovation, the Isle of Man is home to a diversified economy encompassing both traditional sectors and emerging industries. Our business, financial and digital sectors are continually growing.

Get in touch

If you’re considering locating to the Isle of Man, please get in touch with one of our friendly team - we would be delighted to help you explore the idea further. We will also be able to put you in touch with the right people at Locate Isle of Man who can help you with your move.

To get in touch, please email hello@peregrine.co.im or call +44 (0) 1624 626586.

Peregrine Corporate Services Limited is licensed by the Isle of Man Financial Services Authority.

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