About Isle of Man
The Isle of Man has received the highest
seal of approval with the award of 'triple A' status by both Standard
& Poors and Moody's. The AAA credit rating reflects the strength
of the Manx economy and proclaims the island a safe and stable financial
centre in which to invest.
The Isle of Man Government recognises
that a jurisdiction's reputation is of great importance and the
island has been commended by various international bodies for its
regulatory structure. A recent report published by Financial Action
Task Force inspectors said the island was "at the forefront of international
efforts to prevent the abuse of company structures for criminal
purposes". The financial regulation was described as "comprehensive
and effective" and the financial sector as having a "good compliance
culture".
The success of the island dates back to the early 1980s
after measures were taken by the Isle of Man Government
to attract financial businesses. The Isle of Man's
financial services industry was built on the back of legislation,
including laws covering banking licences in 1982, targeting the
insurance market in 1986 and the investment industry in 1988.