Abstract
Abstract The Isle of Man is centrally located in the Irish Sea between England and Ireland. It is a self-governing dependency of the British Crown forming part of the British Isles but it is not part of the United Kingdom. The Island enjoys a relationship with the UK government which enables it to operate independently with regard to internal Island-related matters, yet be represented by the UK government in relation to external matters. The Isle of Man has the oldest continuous Parliament in the world, called Tynwald, which oversees the Island’s internal administration, fiscal and social policies and legislates for the Island in these areas, subject to receiving Royal Assent from the UK. This relationship enables the Island to diversify from practices in the UK and to operate regimes designed specifically to enhance favourable treatment of the Island’s residents and investors in the Island. The Isle of Man has an excellent offshore reputation and a respected financial stability which is maintained by rigorous regulation and supervision of financial institutions and services in operation on the Island.
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