Relocation services
The Isle of Man’s enviable reputation for resiliency and safety has generated interest for the relocation of business and family structures into the Island. Hotchkiss Private Clients’ mission is to reduce the burden and effort to make it easier to establish your life in the Isle of Man for you, your business, and your family.
We provide a bespoke service to support your relocation, including managing practical tasks, as well as more complex matters, including tax management, property searches, insurances, removals, entry requirements for family and staff, plus bespoke services to cater for your specific needs.
Preparing to move
Establishing in the Isle of Man
Incentives for relocation
Bringing your family
Insights:
Complete the online form to unlock access to the Relocation Guides that provide more information on considerations and actions to relocate to the Isle of Man.
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Preparing your tax position
Preparing to move
Prior to making your decision to relocate, we would always recommend that you consider your tax affairs thoroughly and seek professional advice. This will enable you to take a proactive approach and could save you a lot of money and, potentially, time and effort.
Cessation of tax resident
Depending on which country you are leaving, you will need to consider the rules regarding cessation of tax residence in that country. Each country has its own rules, and residence in a country determines how you are taxed in that country. It is important to understand and plan for your residence status at the onset of your planning to relocate.
Pre-departure tax advice
Tax advice before you leave your country of residence, including succession, Inheritance tax, assets, capital gains, ceasing residence.
Structures
Hotchkiss Tax can provide advice for commencing your new life in the Isle of Man for individuals, business and families, including, how best to structure your affairs. This includes local Isle of Man resident company formation, and support services, estate planning and trusts.
Visas and permits
Entry and visa requirements for you, your family, and employees of your business, and the many different types of visa depending upon whether your intentions are to visit, work, invest, settle, or study in the Isle of Man.
Hotchkiss Group works with the Isle of Man’s top immigration lawyers, who can advise you on whether you need a visa, options and processes.
We can even assist with advice on pet passports, furniture and car relocations.
Establishing in the Isle of Man
Specialist expertise in the establishment of Isle of Man companies for Isle of Man residents, with less red tape, greater flexibility and transparency, giving our clients more involvement in their business affairs.
Isle of Man company formation and support services
We can help you navigate the local corporate tax and legal systems. We work with you to build your knowledge, assist you with filing requirements and other statutory requirements.
Our specialist services include company name approval, incorporation, provision of nominated officer, directors and company secretary, Isle of Man corporate filing requirements and ongoing company management services, as required.
Note: these services are only available for companies owned by Isle of Man residents within the domestic services exemption of the Financial Services (Exemptions) Regulations 2011.
Bespoke private client services
To ease your introduction to life in the Isle of Man and for those already established on Island, we can assist you with a range of services. We can lighten the load and take away many of the tedious tasks, both personally and in your business life. Our services include assistance with banking relationships and accounts, IT services, real estate, legal and human resource matters. The team at Hotchkiss Private Clients can introduce and connect you to reliable and professional contacts for services on the Island.
Connecting you to a network of contacts
In any new environment, creating and nurturing relationships are key, but it can be tricky to understand the existing social and business networks and providers. To ease your entry into the Isle of Man community, we can help prioritise and facilitate introductions to a network of contacts that we have built up over many years, including trades and financial service providers, professionals, as well as relevant local government and business contacts. The right introductions are critical to forming important business and personal connections that matter most to your new business.
Specialist financial, trust, and tax services
Working in conjunction with our Hotchkiss Tax team, we can provide local, UK and International tax advice if required. This encompasses a range of estate and trustee services and can include; succession planning, executorship, trustee services, and personalised relocation services to aid your move to the Isle of Man.
Additionally, Hotchkiss Tax can provide you with tailored tax services, payroll services, bookkeeping and accounting, registration for VAT, company tax returns, and period end accounts, management accounts, debtors and creditors management.
Practical relocation services
We provide a bespoke service to support your relocation, including managing practical tasks, as well as more complex matters, including tax management, property searches, insurances, removals, entry requirements for family and staff, plus bespoke services to cater for your specific needs.
Property search
The island is home to many local, reputable estate agents who deal with both sales and rentals. Manx Living helps you to search for the latest available properties from the Isle of Man’s leading estate agents.
Incentives for relocation
In a bid to attract businesses and skilled workers to the Island to help the economy continue to flourish, the Isle of Man Government offer a number of generous incentives. In a nutshell, these include:
The Key Employee Incentive (KEI)
The KEI is aimed at key employees (including business owners) that are required to take up residence in the Isle of Man to allow a ‘relevant business’ to succeed. A relevant business is one which is in the interest of the Island’s economy, creates new jobs in, and is carried out on the Island.
Employee Relocation Incentive
If your business operates within a wide range of specified business sectors and relocates an employee to the Isle of Man, your business could receive up to 20% of your employee’s first year salary costs.
National Insurance Holiday Scheme (NIHS)
The NIHS provides a refund of up to £4,000 of National Insurance contributions paid in the first 12 months of Island employment for either someone who is new to the Island or a returning student.
Business Support and Assistance
The Isle of Man Government, and Department for Enterprise offers numerous schemes and grants to help businesses flourish in the Isle of Man. Depending upon whether your business is relocating to, starting up, expanding or diversifying in the Isle of Man, determines which scheme you may be eligible for and the assistance you could receive.
The schemes offer grants for capital, training, and marketing, with funding to help diversify business, as well as on-going support. depending upon which scheme you are eligible for.
Bringing your family
The Island is easily accessible, served by daily flights to and from major UK airports and a regular ferry service. Some providers offer flights between the Isle of Man and some European airports, although, these can be seasonal.
In response to the COVID19 Pandemic, all persons arriving in the Isle of Man must obtain entry permission prior to travel and adhere to special rules. Further details can be found here on the Isle of Man government’s travel and borders web page.
Visa and entry
The Hotchkiss specific experience in helping Hong Kong BNOs, South African, and UK passport holders can provide advice on the entry, visa and work permit process for you and your family, and can connect you to the Island’s top immigration lawyers and visa specialists.
Pet passports
The Isle of Man is a fantastic place to keep pets. With its miles of greenways, beaches, forests, and highlands, the island offers plentiful country walks, and afterwards you can relax in many of the dog-friendly local pubs and cafes.
Travelling to the Island
The Island is easily accessible, served by daily flights to and from major UK airports, and a regular ferry service via the Isle of Man Steam Packet.
In response to the Covid-19 pandemic, all persons arriving in the Isle of Man must obtain entry permission prior to travel, and adhere to special self isolation rules upon arrival. Further details can be found at www.covid19.gov.im
Schools
We can facilitate introductions, and provide further information on the nurseries, preschools, primary and secondary schools on the Isle of Man.
Compulsory education in the Isle of Man runs from ages 5 to 16 years old, and broadly follows that of the UK with special emphasis upon Isle of Man culture and traditions.
There are numerous nurseries and preschools throughout the island, and excellent primary and secondary schools, plus two public schools on the Island: The Buchan School and King William’s College. The team at Hotchkiss Private Clients can facilitate an introduction to the school you wish your children to attend.
Removalists
International removalists can connect their networks to shipping your belongings, cars, and personal effects to the Isle of Man via the Isle of Man Steam Packet or Mezeron Shipping.
There is a good choice of removal companies on the Island, some of which offer a bespoke international service. We can assist you in finding the removal company that is right for you.