Isle Of Man Country Summary
Sanctions
Lower Concern
FATF AML Deficient List
Lower Concern
Terrorism
Medium Concern
Corruption
Lower Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Higher Concern
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
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
The Isle of Man has a high-income economy driven by a low tax regime that attracts businesses in financial services, online gambling, and light manufacturing. The economy has transitioned from traditional sectors like agriculture and fishing to a focus on technology and tourism, with significant contributions from the insurance and online gaming industries.
The investment climate in the Isle of Man is strengthened by a favorable regulatory framework that attracts foreign investment, particularly in technology and financial services. With no capital gains tax, wealth tax, or inheritance tax, the island is appealing to high-net-worth individuals and corporations, although it faces challenges in ensuring compliance with international standards for anti-money laundering and financial transparency.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings