The Isle of Man has often been the pioneer in introducing pragmatic regulation and consumer protection, priding itself in being responsive to international needs and maintaining a business-centric approach.
The Island is recognised as a leading regulated offshore jurisdiction in a number of sectors including:
The Isle of Man's finance sector has two regulatory bodies; the Financial Services Commission (FSC) and the Insurance & Pensions Authority (IPA).
The FSC is an independent statutory body responsible for the licensing and supervision of banks, building societies, investment business, collective investment schemes and corporate and trust service providers in the Isle of Man.
The IPA is a statutory board with responsibility for the regulation of the insurance and pensions sector in the Isle of Man. This separation and focus is unique amongst its competitors.
They are both highly respected worldwide and liaise closely with their colleagues internationally to ensure those who choose the Isle of Man can be sure they are supported to the highest standard.
Isle of Man Aircraft Registry
The Isle of Man Aircraft Registry provides a customer focused service for the registration of high quality private and corporate jets and high quality twin turbine-engine helicopters.
As the only dedicated corporate aircraft register in Europe, the Registry offers high international standards and a competitive scheme of charges for fixed-wing aircraft above 5,700 kg other than for residents of the Isle of Man.
Isle of Man Ship Registry
The Isle of Man Ship Registry is one of the world’s leading registers for ships and yachts and the Isle of Man has a Red Ensign Flag that is respected worldwide.
The Registry provides a high quality service with significant cost savings over its competitors. Pragmatic and bespoke solutions can be provided for all requirements prior to registration and this relationship continues while the vessel is in service to ensure the needs of the client can be fully met at all times.
Isle of Man Companies Registry
The Isle of Man Companies Registry maintains the register and records of all companies and other business types incorporated in the Isle of Man with over 28,000 companies on the register. It also provides a facility for the public to view documents which have been filed.
The Companies Registry prides itself on being committed to consistent delivery of the very highest level of service. It aims to balance the needs of those who are required by law to deliver certain information, against the needs of those who have a statutory right to inspect such information.
Gambling Supervision Commission
The Gambling Supervision Commission (GSC) regulates all online gambling activities based in the Island.
The core principles the Commission upholds are to: ensure that the services offered by licence holders are fair and that players receive their true winnings; to keep the gambling industry crime free; and to protect the young and those at risk.
In addition, the regulations also provide that player funds are maintained separately from the operators’ funds to ensure that the players’ monies are protected. This is currently unique in the gaming world.
The GSC is also responsible for the licensing and regulation of land-based gambling operations (casino, amusement and slot machines, betting offices and lotteries).