The Isle of Man (IoM) offers a unique proposition for international trade opportunities into Europe.
With the EU continuing to offer enormous potential for businesses looking for market access, there remain a number of obstacles such as different languages, legislation and regulation. The IoM offers a solution for both non EU businesses looking to gain EU market access and existing EU businesses looking to relocate their operations.
The IoM is a Crown Dependency of the UK, but is not part of the EU. However, through a unique relationship with the UK it is part of the common EU VAT and Customs territory and therefore is an ideal European base for the importation of goods through the UK or IoM for free circulation into the EU. The goods are cleared through the IoM's Entry Processing Unit (EPU) which operates the same systems, standards and procedures as in the UK, without the need for a UK presence. In the future, it is intended that goods can be EU customs cleared through any EU port.
This unique customs status, together with the IoM's reputation as an international finance and business centre and a headline rate of corporate income tax of 0%, make the island an attractive location from which to manage and administer international trade businesses.
We provide a co-ordinated approach when advising and assisting with all aspects of your supply chain management. We draw from the knowledge of our specialists, both locally based and internationally and where required, our excellent relationship with IoM Customs & Excise to deliver efficient and expert advice.