The Isle of Man is a common law jurisdiction and is therefore a recognised and pre-eminent jurisdiction for establishing trusts.
Services provided to trusts in the Isle of Man are regulated and normally undertaken by Trust Service Providers who are licensed by the Financial Supervision Commission under the terms of the Financial Services Act 2008 and the Financial Services Rule Book 2008.
Trust Service Providers are therefore required to conduct their business in accordance with Regulatory Codes, which ensure that the standards and practices in the Isle of Man are maintained at the highest level of professionalism.
Trusts are often used as part of sophisticated wealth or succession planning structures or in conjunction with companies. There are various forms of business organisation available under Isle of Man law, and these include Partnerships, LLC’s and Trusts.