Isle of Man Trust
The Isle of Man law of trusts is based on English law. In addition, being a common law jurisdiction, there is a considerable amount of case law (mainly English) which is persuasive authority for the Manx courts. The distinctions between English law and Manx trust law arise principally from the fact that the Isle of Man has not adopted certain provisions of English trust law, for example, those relating to restrictions on accumulation of income. Appeal from the Isle of Man courts is to the Privy Council in London.
Key Features
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Isle of Man International Trust |
Corporate Details |
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General |
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International Trust |
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Follow English law |
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Isle of Man Trusts Act 1995 |
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2 weeks |
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None |
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No |
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Yes |
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150 years |
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No |
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As per Trust Deed |
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Settlor |
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Should not be a resident of Isle of Man |
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A trustee, a beneficiary or a protector of the trust. |
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Beneficiary |
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Should not be a resident of Isle of Man |
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A trustee, a beneficiary or a protector of the trust. |
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Should not include immovable property situated in the Isle of Man |
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No |
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Trust asset |
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No, except property situated Isle of Man |
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Trustee |
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1 if corporate and 2 or more if not corporate |
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No domestic trustee is required |
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Accounts |
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No |
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No |