The Isle of Man has a long history of innovation in the wider e-business sector, born out of the Island being used as a test bed and launch pad for many new telecom developments.
One such notable first was being the first country in the world to introduce 3.5G, having been second by only 24 hours to Japan on introducing 3G telecommunication technology.
More recently the Island has introduced the world’s first Next Generation Telephone Network (NGTN), which fully integrates both fixed and mobile telephony.
Over the last 5 years the Island’s two competing telecom providers have invested over £27 million in the Isle of Man telecoms infrastructure which has resulted in the Island having a state of the art telephone system and five top tier data hosting suppliers.
For any location, guaranteed connectivity 24/ 7/ 365 is an absolute must and again the Island is very well served in this regard. Connectivity to and from the Island is via two self healing SDH fibre rings and also via a Government owned point to point fibre cable associated with an electricity interconnector.
As well as guaranteed fibre connectivity, guaranteed electricity connectivity is also vitally important. Again the island is very well served in this regard via the electricity interconnector to the UK and also via a gas turbine power station with further resilience provide via diesel set generators.
Cavendish has a wealth of knowledge and connections in the e-business arena which would be invaluable to any e-business looking to relocate or set up on the Island.
Advantages of doing e-Business in the Isle of Man:
- A corporate rate of tax of 0% which results in e-business companies being able to achieve significant savings by structuring the operations of group holding companies or subsidiaries in the isle of Man or by establishing R&D or manufacturing centres on the island
- No capital gains tax
- Generous Government grants of up to 40% on capital expenditure
- State of the art telecommunications infrastructure
- Highly resilient fibre and electricity connectivity
- Comprehensive quality software developers
- Choice of quality competitive data hosting providers
- Full international Intellectual Property Rights protection
- Credible cluster of existing e-businesses
- Excellent international reputation with reviews and endorsements from the G20, OECD, IMF, FATF and FATCA
- An established and highly regarded technical and professional services network
- Free movement of goods within the EU
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