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Fixed Rate Return Investments
Retirement Planning
Pension Transfers
Capital Protected Bonds
School Fee Plans
Trust Services
THE ISLE OF MAN - A STABLE BASE FOR YOUR INVESTMENT
History
The Isle of Man is an self governing Crown Dependency situated in the Irish Sea, midway between Ireland and England. Tynwald, the Manx Parliament, is older than the House of Commons (UK Parliament) and has provided the seat of government for over 1,000 years. Democracy, then, is part of Manx history. Click for Isle of Man map
The Isle of Man enacts its own legislation, which receives Royal assent. As the United Kingdom has sovereignity over the island, it is responsible for the island's ultimate good government, and in particular, the insurance legislation which is based upon that of the United Kingdom.
The Isle of Man is an self governing Crown Dependency situated in the Irish Sea, midway between Ireland and England. Tynwald, the Manx Parliament, is older than the House of Commons (UK Parliament) and has provided the seat of government for over 1,000 years. Democracy, then, is part of Manx history. Click for Isle of Man map
The Isle of Man enacts its own legislation, which receives Royal assent. As the United Kingdom has sovereignity over the island, it is responsible for the island's ultimate good government, and in particular, the insurance legislation which is based upon that of the United Kingdom.
Protection
The Isle of Man is the only offshore financial centre providing compensation schemes in all three of the main areas of finance - namely deposits, funds and life policies.
Policyholder Protection in the Isle of Man is provided under the Life Assurance (Compensation of Policyholders) Regulations 1991, administered by the Isle of Man Government Insurance and Pensions Authority and offering protection broadly along the lines of the UK Policyholders Protection Act 1975. It can be summarised as follows:
The Isle of Man is the only offshore financial centre providing compensation schemes in all three of the main areas of finance - namely deposits, funds and life policies.
Policyholder Protection in the Isle of Man is provided under the Life Assurance (Compensation of Policyholders) Regulations 1991, administered by the Isle of Man Government Insurance and Pensions Authority and offering protection broadly along the lines of the UK Policyholders Protection Act 1975. It can be summarised as follows:
- All holders of policies issued after April 5th, 1988 by Isle of Man insurance companies are protected.
- Up to 90% of benefits under a policy are covered with no ceiling.
- Potential Policyholders where policy documents have not yet been issued are covered.
- The Insurance and Pensions Authority is required to seek out protected Policyholders in the event that a company becomes unable to meet its liabilities and find ways of securing continuance of Policyholders' benefits.
Security
The Isle of Man was the first of 35 jurisdictions to achieve the highest financial services rating issued by the three of the world's most influential policy making bodies (OECD, FATF and FSF). This rating relates to an offshore financial centre's stability and security.
The island is the first Crown Dependency to launch an independent Financial Services Ombudsman scheme. Individuals with an unresolved financial complaint against an Isle of Man company after April 1999 can use this scheme.
In 2002, Standard and Poor's and Moody's have both given the Isle of Man AAA ratings - this compares favourably to the likes of both Italy and Spain which were given AA ratings.
The Isle of Man was the first of 35 jurisdictions to achieve the highest financial services rating issued by the three of the world's most influential policy making bodies (OECD, FATF and FSF). This rating relates to an offshore financial centre's stability and security.
The island is the first Crown Dependency to launch an independent Financial Services Ombudsman scheme. Individuals with an unresolved financial complaint against an Isle of Man company after April 1999 can use this scheme.
In 2002, Standard and Poor's and Moody's have both given the Isle of Man AAA ratings - this compares favourably to the likes of both Italy and Spain which were given AA ratings.
Awards
The Isle of Man has won numerous awards that confirm its position as one of the world's premier offshore centres.
The Isle of Man has won numerous awards that confirm its position as one of the world's premier offshore centres.
- International Money Marketing
- International Financial Centre of the Year 2006
- International Financial Centre of the Year 2005
- International Financial Centre of the Year 2004
- International Financial Centre of the Year 2002
- International Financial Centre of the Year 2001
- International Financial Centre of the Year 2000
- International Financial Centre of the Year 1999
- International Financial Centre of the Year 2006
- International Financial Advisor Awards for Excellence
- Best International Territory 2001
- Offex - Offshore Awards for Excellence
- Best Offshore Centre for Life Assurance 2000
- Best Offshore Centre for Investment 2000
- Best Offshore Centre for Life Assurance 1999
- Best Offshore Centre for Investment 1999
- Best Offshore Centre for Life Assurance 2000
- International Investment's Offshore Fund and Product Awards
- Best Offshore Centre 2002
- Best Offshore Centre 2001
- Best Offshore Centre 2002