IOM Companies
Every country and jurisdiction has its distinct forms of business
The Isle of Man is no exception: it has been legally and politically distinct for over a thousand years, and in modern times has become one of the leading centres in the world for offshore financial services. Companies and other forms of business organisation established under the law of the Isle of Man have been widely used internationally. It is no accident that business organisations established in the Isle of Man have become so widely used. It is arguable that the Isle of Man has the most sophisticated law relating to forms of business organisation of any centre for 'offshore' work and is among the leading jurisdictions in the world in this respect.
The Isle of Man is a 'Common Law' jurisdiction
The basis of Manx law is Manx customary law, itself derived from a combination of Gaelic Brehon law and Norse Udall law, both of which have been very heavily influenced by English Common Law over the centuries. Equity, as it developed in the English courts, has been applied identically in the Isle of Man since the 17th Century. With a few exceptions, notably in land law and constitutional law, the Isle of Man closely follows English legal precedents and legislation.