Think of a Commonwealth member Eastern sovereign state with 5.5 million people living in an island of roughly 250 square miles with a government that is actively supporting local companies to expand into Europe.
Think of a Commonwealth member Western sovereign state, 800 years older than the United Kingdom, with 85,000 people living in an Island of roughly 250 square miles that is actively supporting overseas companies to expand into Europe.
Singapore – meet the Isle of Man.
or, as we say in the Isle of Man… “Hey boy!”
The Singapore Government will pay up to 70% of expenses incurred by local companies in exploring new markets and establishing an overseas presence.
The Isle of Man Government will pay up to 40% of expenses incurred by overseas companies in exploring new markets and establishing an Isle of Man bridgehead into Europe.
Excuse me? That’s a combined 110% subsidy for doing something that you would probably have done anyway. What’s not to love?
Establishing a subsidiary in the Isle of Man gives you the Golden Ticket of an EU VAT Registration from a tax neutral International Business Centre, ticking all the international tax compliance boxes whilst allowing you to take your profit back to Singapore without international tax pain.
And then you find out that the Isle of Man Government really want you here. Really want you here to the point that it has just launched a 50 million Pound fund to invest in overseas companies like yours who want to create a real presence on our Island as a bridgehead into Europe.
And, oh by the way, if you do this properly relocating staff can obtain a British visa that can lead to Indefinite Leave to Remain, and in time, a British passport.
Isn’t it great when a plan comes together?