Isle of Man To Provide Space Registration Niche?

Due to the continuing success of the Isle of Man shipping and aircraft registries on the Island, the latest news indicates that the Department of Trade and Industry are now considering a registry of satellites and other spacecraft based on the recent growth of the space commerce industry.  It is envisaged that future advances in the space tourism and satellite industries will lead to further registration requirements in this area.

It is hoped that the Isle of Man Government will develop legislation which will enable the establishment of a space registry providing similar advantages which the shipping and aircraft registries have profited from, namely a zero corporate tax rate, no capital gains or inheritance taxes and the benefits associated with registration in a well established, OECD "white listed" jurisdiction.

 

14th September 2009