Space Industry Introduction
The Isle of Man’s space industry, while a comparatively recent growth sector, is underpinned by strong foundations which look set to ensure its long-term success.
As with many other growth areas of business on the Island, progress has been due in no small part to a co-operation between the Government and private sector.
The Isle of Man Government is known for its active encouragement of space business and undertakes filing with the International Telecommunications Union (ITU) in Geneva for orbital positions and associated radio frequencies. It is assisted in this by ManSat, a private company charged with preparing applications and tending the interests of space-related companies domiciled on the Isle of Man.
The Island offers many advantages to space and satellite communications companies, including the world's first Zero Tax Rate, which covers all space business activities, and financial incentives to those businesses who, in turn, will benefit the Island’s economy.
A highly-developed infrastructure includes many of the world’s most prominent names in finance and insurance, and there is also a long-established base of engineering, manufacturing and technical industries.
Space business brings with it wide range of policy and regulatory issues which are necessarily affected by the growth and development of the industry. In recognition of this, the International Space University (ISU) established an International Institute of Space Commerce (IISC), in order to research and respond to these issues. Their decision to locate the Institute in the Island’s International Business School was only one demonstration of the confidence which the space industry has in the Isle of Man as a leading jurisdiction.