Isle of Man Trusts

The Isle of Man (like Gibraltar and the Channel Islands) is a popular choice for trusts. Unlike Gibraltar is does not have the option to register trusts but it is a very well regulated and cutting edge trust destination. The Isle of Man courts apply trust law in a consistent and predictable way and the Isle of Man has been instrumental in shaping international trust law as the UK courts rule on its most complex cases. Isle of Man trusts are not cheap, in an international context, but they are generally very well operated. Isle of Man trusts (which in this case means trusts having an Isle of Man based corporate trustee) do not pay any tax whatsoever. There are various provisions in English law restricting the use of offshore trusts which means that advice should be sought before their use by any UK resident or domicile. In most cases the use of trusts (and especially offshore trusts) is strongly associated with tax avoidance. This means that in most cases an alternative structure lacking the same stigma may be preferable. For more information about trusts in general and their alternatives please see our main article in the products section.