In addition to the obvious benefits of the Isle of Man’s stable political and economic environment the benefits of the Isle of Man as a jurisdiction for ship registry are primarily fourfold:
● Operating Costs – the low costs involved in operations from the Island;
● A Category 1 Shipping Register where registration grants the right to fly the “Red Ensign” and access the support of British consular services worldwide and British Royal Navy protection;
● Exceptionally efficient and high personal service standards from an internationally respected registry which is available 24/7;
● The beneficial tax regime (both in terms of VAT planning and corporate tax) which exists on the Island.
Also helpful is that the Isle of Man is in the same time zone as the UK and never more than one hour different from Europe.
Of the above reasons the beneficial tax regime afforded by the Isle of Man is arguably the most significant.
Read the full article here: Benefits of Registering Yachts in the Isle of Man