Isle Of Man Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF status
The Isle of Man is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The last follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in The Isle of Man was undertaken in 2022. According to that Evaluation, the Isle of Man was deemed Compliant for 20 and Largely Compliant for 19 of the FATF 40 Recommendations. It was deemed Highly Effective for 0 and Substantially Effective for 2 of the 11 Effectiveness & Technical Compliance ratings.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
The Isle of Man boasts a high-income economy primarily driven by financial services and tourism, leveraging its tax haven status. The economy has transitioned from traditional sectors to more profitable industries such as online gambling and technology, with a low unemployment rate and a diverse range of sectors including insurance and light manufacturing.
The investment climate in the Isle of Man is highly favorable due to its low taxation policies, including the absence of capital gains, wealth, and inheritance taxes, which attract businesses and affluent individuals. The regulatory framework supports a diverse economy with sectors such as financial services, online gaming, and technology, although it faces challenges related to financial crime and regulatory scrutiny. Overall, the island's strategic location and supportive business environment make it an appealing destination for investors.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
