Relocation Options | Corporate Brochure

Relocation

Options

IntroductionRelocation OptionsHelping professionals, families & businessesrelocate with the smoothest of moves

Relocation OptionsRelocation Options recognises that due to the significant number of benefits that the Isle of Man provides, many successful people look to move their family and businesses to the island.

Whilst the positive business and lifestyle attractions may draw people to its shores, the practical issues relating to a move on an individual, family and business may seem onerous. Through our three businesses, Corporate Options, Financial Options and Relocation Options, we are able to assist with your relocation and make the move to the Isle of Man less complicated and more straight forward.

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Our Key Services � Property sourcing � Guided tours of the Isle of Man � Assisting with moving to the Island � Business & company start-ups � Financial assistance & grant advice

� Commercial funding assistance � Commercial & residential mortgage � Insurance & assurance advice � Tax advice & tax planning � Pension advice & transfers

Elsdon Watson supported my move from the UK to the Isle of Man.

He was exceptionally helpful and supportive, and clearly knows what the provision of customer service means to his clients.

I would wholly recommend him and his company for any relocation work.

Tania S

Thank you for all of your support throughout our relocation.

I wanted to take a moment to commend Michelle Murphy who acted as our local relocation specialist in Douglas.

She was excellent - responsive, knowledgeable of the local market, personable and supportive.

Anne T

The Isle of Man is situated at the heart of the British Isles in the middle of the Irish Sea between Ireland (31 miles) and the United Kingdom (31 miles). The island is 33 miles long and 13 miles wide with a population of approximately 85,000 residents.

The Isle of Man is a beautiful island with unspoilt beaches, mountainous countryside, sweeping coastline and bustling townscapes. Such scenery has provided many a backdrop for the film industry in recent years, the island having doubled as Cornwall, Yorkshire, Norfolk, Hampshire, Brighton and even the Caribbean.

The Isle of Man has remained in the fortunate position of being able to offer affordable high quality commercial and residential accommodation in an open and spacious environment whilst many other offshore jurisdictions have become expensive and overcrowded. There are no restrictions on buying property in the Isle of Man.

Furthermore, the island has an exceptional health system, high education standards with both public and private educational offerings, excellent transportation links and communication systems.

The Isle of ManThe island is a self-governing dependent territory of the British Crown which is not part of the United Kingdom, but for which the Crown has the responsibility for ensuring the good government of the island and for its external affairs, but the Island's democratically elected government exercises full control of its internal affairs and territorial waters. By long standing convention, the UK Government does not legislate for the Island except with the specific consent of the Island's Government.

The High Court of Tynwald is the Parliament of the Isle of Man, is over 1,000 years old and is considered to be the oldest Parliament in the world with unbroken existence.


Family & Individual Relocation

Leisure Activities

Moving to a new location is an exciting time but we also understand that this can also be a stressful time for you and your family. We want to remove the worry for you and make your move as care-free as possible.

Once you have resolved to move to the Isle of Man, there are many factors to consider -

� Where will I live? � Will I rent or buy a property? � Will I be happiest in a rural or suburban location? � Where will my children attend school? � Are there any organisations which support my

interests?

We aim to help you answer all these questions and ensure that you are happily settled into Island life.

We can offer a package to suit your requirements and which range from collecting you from your chosen pick up point and providing a tour of the island to finding you a property to rent or purchase. We have the local knowledge and experience to make your move a smooth one saving you time and effort and we are also confident that our enthusiasm and diligence will be the ideal start to your new life on the Isle of Man.

Your relocation starts with an initial consultation to ascertain your personal requirements. We will forward our questionnaire to you which upon completion will assist us in gaining a working knowledge of your lifestyle and what assistance you require from us.

The Isle of Man boasts a fine selection of restaurants, attractions and leisure facilities. Other activities can be enjoyed such as the theatre, cinema, health clubs, casino and nightclubs in addition to many high quality bars public houses. There are also many historical attractions and ancient monuments encapsulating 10,000 years of Manx history such as the Great Laxey Wheel and modern museums which provide a historical account of the Island.

We can help you in seeking out these attractions and also assist with establishing connections with clubs and associations which are personal to you, such as joining a gymnasium or a golf club to enrolling your children in a sporting club or Brownies/Cubs. If you let us know your favourite activities, we will be happy to offer advice.

Home Search for Purchase PropertiesRelocation Options is able to be your eyes and ears in the local area. We utilise our relationships with the key local agents and research the markets thoroughly on a weekly basis in search of your perfect home. We will preview suitable properties to save you from taking extra trips back and forth and should something be suitable we will arrange an accompanied viewing to the property. Once you have found the right property we will also assist you right up to the day you move into your new home and provide you with "Moving In Assistance" on moving day.

Home Search for Rental PropertiesOnce you have settled on an area or perhaps a couple of different towns that you would like to be near, we can start to look for suitable properties. For a rental search, we will speak to all of the local agents and private landlords, and then draw up an itinerary of viewing of suitable properties. We will arrange to collect you from your hotel or airport and accompany you to all of the viewings. Once you have made a decision, we will assist you with the rental negotiation and provide you with "Moving In Assistance" on the day you move in to your property.

Information on Local ServicesWe will also be able to provide you with details concerning accommodation, car hire, utilities, including broadband and mobile phone service providers. Information with regards to people taking up residence in the Isle of Man will also be provided in respect of work permits, vehicle registration, driving licenses, medical/health services, property rates, voters list, immigration and employment.


Moving In AssistanceOnce you have determined the property that you wish to move in to and arranged a moving-in date, we are able to offer the following assistance with the move:

� Take meter readings on your property prior to you moving in and inform the relevant utility services

� Arrange with the utility services to change the services into your name by providing you with the correct paperwork to sign and then give it to the relevant authorities

� Book in an appointment for satellite services to be installed

� Book in an appointment for broadband and telephone services to be installed

� Arrange for a telephone book to be at your new home

� Inform you of the refuse collection day and ensure that you have a "wheelie bin" and if you are in a recycling area, that you have the correct information and crates for the recycling collections

� Give you the contact details for your local Commissioners office

� Provide a welcome box of essentials (we ask you to let us know which brands of you would prefer) including the Champagne!

We will source for you a directory of local services, doctors, dentists, and schools. We will specifically include information about facilities that are personal to you and your family such as gyms, schools, children's groups (e.g. Brownies/Cubs) and sports facilities. This information will be supplied in the form of contact details with names (where relevant), email addresses and telephone numbers, so that you can progress these matters yourself.

Orientation Day TripWe offer an orientation day trip which includes research work prior to and including the days guide.

We will collect you from your chosen pick up point and give you a guided tour around the Island, pointing out the local landmarks along the way. At the beginning of the trip we will present you with a pack full of information on the Island for you to take home and study at your leisure. During this trip we will show you a few properties related to your specification, to give you an idea of the value of property in the Island in relation to specific areas.

At the end of this trip you should have a clear idea of how you would like to proceed, for example where you might like to settle and what specific information, you might like to know. If you already have an idea of which areas you may like to look at specifically, let us know and we will focus our time on these areas.

Schools & NurseriesWe will be able to advise and assist with ascertaining which school or nursery is the best option for your child(ren) and answer any questions you might have regarding the schools available, the academic year, catchment areas and assist with enrolment procedures if required. Broadly, the schools on the island are as follows:

State SchoolsThere are 34 primary schools and 5 regional secondary schools. There is a continuing programme of building renewal and sixth form centres have been added in all of the secondary schools over the past decade.

Independent SchoolsKing William's College, founded in 1833, is a co-educational, day and boarding school set in the beautiful safe haven of Castletown in the Isle of Man. Located on two sites, the Senior School is situated very close to the Airport, while primary age children attend the Buchan School less than a mile away.

Further & Higher EducationOver 50% of young people in the Isle of Man choose to enter the sixth form and well over 30% join the Isle of Man College of Further and Higher Education.

Vocational education courses are available on either a full or part-time basis as well as a range of degrees and higher degrees, including MBA, to meet the Island's education and training needs at many different levels.

NurseriesThere are many nurseries all over the Island and which one you choose will largely depend upon in which part of the Island you reside. We can, however offer practical advice about local nurseries and how they compare in terms of what they offer.


Relocating a Business to the Isle of ManThe Isle of Man has developed a great reputation for attracting and developing businesses from around the globe, including but not limited to e-business, e-gaming, banking or the space industry with numerous benefits available to those businesses looking to relocate to the Isle of Man including:

� 0% corporation tax on trading profits and 10% for defined regulated business

� Business friendly government and environment � The Isle of Man Government's Financial Assistance

Scheme may be able to assist new businesses relocate and to develop on the Island should conditions be met

� Operation of a VAT system in collaboration with the UK which maintains a special relationship with the EU and which provides access to EU markets for goods

� Skilled labour force

� World class telecommunications infrastructure � The Isle of Man maintains Standard and Poor's

and Moody's sovereign rating of AA awarded demonstrating the high quality of the island's political, legal and regulatory environment

� The Island has been confirmed as not being included in the OECD's 'blacklist of non-cooperative tax havens' and instead making it onto the OECD's 'whitelist'

� The Isle of Man is continuing to move towards greater transparency and co-operation in accordance with international opinion.

How can Relocation Options help? Relocation Options brings together two established businesses that have been present on the Isle of Man for almost twenty years, Corporate Options, a licensed Corporate and Trust Service Provider and Financial Options, a licensed independent financial advisory business which between them can provide:

� Formation of Isle of Man companies � Company secretarial and administration services � A central point of contact for the business start-ups � A go between with the Department of Economic

Development in the application of grants for financial assistance if applicable

� Contacts with the Financial Supervision Commission in respect of company requirements

� Officers to the company

� A registered office for the business � Guidance in respect of VAT registration and local

tax requirements � Applications and submissions for work permits

where appropriate � Accounting, bookkeeping and payroll functions

if necessary � Residential and commercial mortgage advice

and applications � Insurance and life assurance advice � Serviced office facilities

Company Formation & ManagementRelocation Options is able to utilise the experience and services of its sister business, Corporate Options, to incorporate an Isle of Man registered company within five working days. Corporate Options is able to provide a Registered Agent and form companies in accordance with the 2006 Companies Act, the preferred choice of Isle of Man company for international business. Corporate Options also has available shelf companies for either the 1931-2004 Companies Acts or the 2006 Companies Act should the requirement be necessary. We are also able to provide other entities to assist with an offshore structure such as foundations, trusts and company formations in other jursidictions.

We are able to provide essential elements to the new business relocation such as:

� Officers to a new Isle of Man company such as directors, secretary, registered agent � Opening a new commercial bank account for the company � Registering the business for VAT and Excise � Liaising with the Department of Economic Development concerning work permit applications for employees who may

be looking to relocate to the Isle of Man � Assisting with the registration of the new business and its employees with the Isle of Man tax office

Government Grants & Financial AssistanceOne of the main financial considerations for a business when relocating to the Isle of Man is the generous financial package that is potentially available from the Isle of Man's Department of Economic Development (through its Financial Assistance Scheme). In order to benefit from the grants and financial assistance, various criteria are required to be met, such as the sector the business will be operating in, the diversification of the economy, the employment that will be generated in the Isle of Man and the expenditure / investment incurred on the island.

The amounts of financial assistance available to qualifying businesses varies but is limited to the following:

Capital Grants � Up to 40% of costs of new buildings, building

improvements, new plant and machinery, including hardware and software

Operating Grants � Up to 40% of non-recurring costs associated with

the establishment of a project � Up to 40% of the costs of specific new

marketing ventures � Up to 40% of the costs of implementing quality

standards or energy conservation � Up to 40% of the cost of renting a factory from

a private developer for the initial period of a new project

Training grants are considered, but must relate to a project with which financial assistance is being given.

Relocation Options is able to assist with arranging meetings with the Department of Economic Development, advising on grant and financial assistance requests as well as preparing and submitting applications.


Taxation

Tax Advice & PlanningIn most cases the main purpose of an Isle of Man relocation is to take advantage of the lower taxation on the the island and potentially operate from here as a head company or a subsidiary/branch of a larger international organisation. Either way, it is imperative that the correct tax planning and stategy be sought and agreed before relocating to the Isle of Man and once here, that advice is implemented correctly.

Relocation Options is able to advise on Isle of Man taxation but where advice is needed that covers a more technical or international element, we are happy to communicate with advisors who have already been appointed by a business or individual or if not, source advice from UK and international tax planners that we regularly utilise.

The island has its own income tax and customs and excise framework and is independent from the United Kingdom in respect of direct taxation. Income tax is low, the standard rate being 10% and the higher rate being 20% and recently the Isle of Man Government introduced a personal taxation cap which means that an individual's personal tax liability is limited to £120,000 irrespective of income generated. There are also generous personal allowances.

There are also no stamp duties, capital gains tax, wealth tax, capital transfer tax, inheritance tax or death duty imposed in the Isle of Man.

The standard rate of corporate income tax in the Isle of Man is 0% and 10% received by a company from any of the following sources:

� Banking business � Land and property in the Isle of Man (including

property development, residential and commercial rental or property letting and mining & quarrying).

The Isle of Man benefits from a special relationship with the European Union which allows the streamlined movement of goods between the Island and the Union. The Isle of Man is the only offshore financial centre where zero tax rate companies may operate within the European Union VAT system and trade freely within the European Union.

Businesses trading in the Isle of Man may apply to register for VAT in the Isle of Man providing that they can show that day to day management and control of the business is effected from the Island. Once VAT-registered, any Isle of Man business is subject to the normal UK/EU VAT rules.

Registration for VAT is compulsory for companies making taxable supplies which at the end of any month, the total value of taxable supplies made during the preceding 12 months (on a rolling 12-month basis) exceeds a defined amount set each year. Also, should a company expect that the value of taxable supplies within a 30 day period will exceed the registration limit, then registration will be necessary. The VAT rate currently stands at 20%.

For Isle of Man businesses that are trading outside the UK and Isle of Man, their trading would normally be outside the scope of UK and Isle of Man VAT and as such would not be required to register in either territory unless registering on a voluntary basis.

Commercial PremisesThe Isle of Man has a large supply of commercial properties be they offices, industrial or retail units and rent can range from £12 per square foot up to £23 per square foot. Relocation Options has over the years developed key relationships with commercial agents on the island and have on numerous occasions viewed commercial, development and industrial properties on behalf of relocating clients and businesses.

Company FinanceWe are able to provide through our sister business Financial Options, a complete range of commercial lending advice for all types of businesses. We are able to collate and submit a proposal to the various lenders on the Isle of Man and off-island and lead your negotiations through to completion.

Company InsuranceThrough our experienced sister business Financial Options, we are able to provide a wide range of insurance policies to suit all commercial requirements including business insuance, key-man insurance, buildings insurance, travel insurance and health insurance. We are experts at tailoring a protection portfolio to suit yours and your business' requirements.

Life AssuranceRelocation Options is able to utilise the experience of Financial Options who are able to offer the full range of life assurance products available on the market, including Term Assurance, Whole of Life, Endowment and Critical Illness products. Whether you are looking to cover a mortgage, a business or you just want to provide some peace of mind for you and your family we can provide all of the options and at very competitive prices.

Pension Advice & TransfersThrough Gerald Chase we are able to provide Isle of Man pension advice and in particular whether it is possible to transfer personal pensions to the Isle of Man from an existing jurisdiction. This is a complex area and one which requires detailed technical planning and one which we are able to provide.

Contact UsIf you would like further information regarding Relocation Options and our services available, please feel free to contact us at the address below:

Relocation OptionsFirst Floor10-12 Prospect HillDouglasIsle of ManIM1 1EJ

Telephone: +44 (0) 1624 612888Fax: +44 (0) 1624 628523Email: [email protected]: relocationoptionsTwitter: @IOMRelocationLinkedin: Relocation Options

Business | Guidance | Lifestyle | Accounts | Relationship | Relocation | Establishment

Corporate Options | Registered in the Isle of Man 122844C | VAT No. GB 003 3492 17

Corporate Options Limited trading as Corporate Options and Relocation Options is licensed by the Isle of Man Financial Supervision CommissionChase Financial Services Limited trading as Financial Options is registered in the Isle of Man No. 084203C and is licensed by the Isle of Man Financial Supervision CommissionChase Financial Services Limited is registered with the Isle of Man Insurance and Pensions Authority in respect of general business


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First Floor10-12 Prospect HillDouglasIsle of ManIM1 1EJ


Relocation Options

+44 (0) 1624 612888+44 (0) 1624 [email protected]

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Relocation

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