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Where do you keep your money nowadays; where it is safe from the clutches of tax authorities, punitive/restrictive legal systems or less resilient government protection is a challenge indeed.  We consider that the tax-efficient international finance centre of the Isle of Man presents a very good choice indeed.

To find out why, please read on.

The Isle of Man is an established international finance centre with a stable and independent legal, political and regulatory framework. Life assurance is an important business sector of the Isle of Man. The level of life assurance business conducted in the Isle of Man is a considerable share of the overall international market.

All life assurance companies based on the island are closely regulated by the Isle of Man Government Insurance and Pensions Authority, which controls this type of business and imposes detailed reporting requirements.

In recognition of the Isle of Man's status as the leading offshore base, from 2001 to 2009 (with the exception of 2007), the island has been voted 'Best International Financial Services Centre' at the International Investment International Fund & Product Awards. In 2007 it achieved a ‘Highly Commended’ status in the same category.

Your Investments will grow virtually tax free. It is not currently liable to income tax, capital gains tax or corporation tax on funds linked to policies. Some dividends may be subject to a tax deduction in the country where the income was produced, but once inside an insurance policy the investment can accumulate free of tax. Thanks to this, your investment will grow more efficiently.

Policyholder protection schemes are regarded as a safety net for policyholders of a life assurance company and allow policyholders to claim for compensation in the unlikely event the life company becomes insolvent. The rules governing schemes and specific rights for each policyholder vary from one jurisdiction to another and in some jurisdictions there is no scheme at all.

Of all the major offshore centres, the Isle of Man is one of only a few that has a statutory compensation scheme for life assurance companies. This compensation scheme is a result of the Isle of Man Life Assurance (Compensation of Policyholders) Regulations 1991 which protects all investors whose policies were effected on, or since, 1 February 1991.

•    Investors in policies issued by Isle of Man authorised life assurance companies are protected worldwide.

•    In the unlikely event that a life company is unable to meet its liabilities, the policyholder will be protected by this compensation scheme.

•    The compensation scheme offers investors up to 90% of the policy value less any contractual charges associated with the policy, and there is no upper monetary limit.

The Isle of Man provides individual investors with a free independent resolution service for complaints that Isle of Man based providers of financial services cannot settle – The Isle of Man Financial Services Ombudsman Scheme. The scheme, which is operated by the Isle of Man Office of Fair Trading, is a free, independent dispute resolution service for individuals with an unresolved complaint against an Isle of Man financial firm regardless of where they are resident. This scheme aims to put investors in the position they would have been in if they had not lost money through maladministration or negligence of such organizations.

It should be noted that the Ombudsman will not consider complaints about investment performance.