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News and Articles

July 2014

New Milestone for Isle of Man Aircraft Registry

06.07.14

The Isle of Man's Aircraft Registry has announced the registration of its 700th aircraft since its establishment in May 2007. The aircraft was a Bombardier Challenger business jet, surveyed and registered in Hong Kong.

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June 2014

Isle of Man Maritime Group hailed as a great success at the International Festival for Business

Isle of Man Maritime Group hailed as a great success at the International Festival for Business

23.06.14

On the 11th and 12th June 2014, the Isle of Man Maritime Group hosted two days of maritime themed events for the International Festival for Business ('IFB') in Liverpool, as part of the Maritime, Logistics and Energy week.The Festival, which was opened by Prime Minister David Cameron on Monday 9th June, is a six week long business programme aimed at promoting business in the North West and globally, to accelerate economic growth.

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May 2014

Launch of new 92 Day Notice Account -Helping local customers make the most of their savings

23.05.14

Cayman National Group is celebrating 40 years of delivering bespoke financial solutions to their valued customers, including being established in the Isle of Man for almost 30 years.

Cayman National takes individual banking customer needs very seriously. That is why, as part of their celebrations, their local office is proud to reveal the launch of a new 92 day notice bank account. This competitive offering, with an attractive interest rate of 1.01% p.a., provides an effective and flexible solution for their customer’s savings, without the need for the cash to be tied up for long periods.

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April 2014

Cayman National 'on track' for continued success after celebrating 40th anniversary

Cayman National 'on track' for continued success after celebrating 40th anniversary

30.04.14

The Cayman National Group chose the Isle of Man and the Steam Railway's Pullman Dining Experience for its 40th anniversary celebrations.

On an unseasonably warm evening in late April more than 60 guests, among whom were group board members from the Cayman Islands , directors and management , introducers and clients from the Isle of Man office, boarded the train in Douglas to enjoy an evening of celebrations to mark the founding in 1974 of the group which has its headquarters in the Cayman Islands and offices in the Isle of Man and Dubai.

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March 2014

Dubai - Phoenix rising from the ashes? by Peter Robinson (Senior Executive Officer,Cayman National Dubai)

Dubai - Phoenix rising from the ashes? by Peter Robinson (Senior Executive Officer,Cayman National Dubai)

13.03.14

When I arrived in Dubai in early 2007 the economic boom was in full swing – they said that you were a fool if you couldn’t make money, and indeed many people became rich on the back of a huge government growth programme, as Dubai demanded to be recognised on the world stage.

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Holding a website offshore to reduce UK tax by Lee Hadnum (Guest Author and Tax Specialist)

05.03.14

If you're looking to set up a website and want to reduce UK tax on the profits generated by that site, one option to avoid tax on the profits is by operating the site from overseas.

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February 2014

Latest Changes to Dual Contracts for Non-Doms by Lee Hadnum (Guest Author and Tax Specialist)

27.02.14

The UK Government announced in December 2013 that it would be clamping down on the artificial use of 'dual contracts' for longer-term UK residents. It has now published drafted legislation which makes offshore employment income in a dual contract arrangement taxable in the UK when certain conditions are met.

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Cayman National joins the Isle of Man Maritime Group

20.02.14

Organisations from the Isle of Man maritime sector have come together, ahead of the International Festival of Business 2014 (“IFB2014”) ,to form the ‘Isle of Man Maritime’ group.

The aim of the IFB2014 is to accelerate economic growth with an ambitious programme of over 100 themed global business events with a target audience of 250,000 business professionals and advisors from over 125 countries. The eventual target is to assist in doubling the UK's exports by 2020.

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The OECD releases Common Reporting Standard (CRS)

20.02.14

The Organisation for Economic Co-operation and Development (OECD) have released their common reporting standard (CRS) document setting out a framework for exchange of information on financial accounts globally as well as recommended common due diligence procedures.






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Information Exchange Update by Ian Bancroft (Managing Director, Isle of Man Office)

17.02.14

The FATCA/Information Exchange journey continues, and there may yet be a few unexpected twists on the road ahead. Read on for a quick history.

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December 2013

Our Managing Director , Ian Bancroft reflects on 2013 and the year ahead

19.12.13

The world of international wealth management is changing fast. We support the work done by the Government of the Isle of Man in meeting the multi-faceted challenges and in positioning the Island to benefit in the years ahead. We have seen, over the past eighteen months, a gathering Global momentum towards the automatic exchange of information. Unlike some territories, the Isle of Man has never enacted bank secrecy legislation, although naturally we seek to uphold the highest levels of personal and business confidentiality. We expect our clients' financial arrangements to be properly and professionally structured, and we have not built our business on a model of helping clients to hide their assets. Consequently, we do not expect any adverse impact from these measures other than a further compliance cost burden.

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Isle of Man signs intergovernmental agreement with United States

17.12.13

Isle of Man Chief Minister, Allan Bell MHK has signed an intergovernmental agreement with the United States to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA). FATCA is a US initiative which requires financial institutions to report information on accounts held by US taxpayers.

The agreement, signed at the US Embassy in London, follows the ground breadking agreement the Isle of Man signed with the UK just over a month ago.

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