No consents or permits are required for a national of any of the member states of the European Union or for anyone having a right of abode in the United Kingdom to take up residence for an unlimited time. There are no qualification requirements for an individual buying any industrial or commercial property or for buying or living in residential property.

Work Permits

Non Isle of Man workers (as defined in the relevant legislation) may not, other than in relation to a limited range of work, be employed or self-employed unless they hold a work permit. The applicant for a work permit needs to show that there is no suitable Isle of Man worker available; in practice, obtaining a work permit for managers and executive staff or for workers with unusual, specialised or technical skills is not usually difficult.

The tax regime for companies and individuals is discussed on the following pages within the Taxation section.

Taxation and National Insurance

Employers and employees are required to make National Insurance contributions at rates currently broadly the same as the United Kingdom. Full credit is given in the United Kingdom and the Isle of Man in respect of contributions made in the other jurisdiction. Eligibility for benefits (and the level of benefits) in each jurisdiction is broadly comparable.