To support professional services on the Isle of Man there are a number of associations and societies.
They offer a differing function for each industry they cover, from self-regulation and membership for organisations to individual memberships for professionals. Some organise regular social events, perfect for networking, and continued professional development (CPD).
The Association of Corporate Service Providers
The Association of Corporate Service Providers (ACSP) member firms provide a comprehensive range of professional corporate and fiduciary services. We also have associate members drawn from the full range of financial and professional service firms on the Isle of Man.
The ACSP came into being to represent the industry regarding the shaping of new legislation. There is little doubt that the Association had a significant influence on the final content of the regulations.
Visit the ACSP website for more information.
Isle of Man Captive Association
The Isle of Man Captive Association (IOMCA) is an organisation dedicated to the progression and development of insurance management companies on the Isle of Man. Its membership supports and advances a set of guiding principles that each member company can benefit from.
In particular, the Association's continuous dialogue and support from Government and regulator ensures that the Island' unique offshore jurisdiction and quality of financial services is not only maintained but enhanced.
Visit the IOMCA website for more information.
Isle of Man Insurance Association
The IMIA represents all authorised life assurance companies on the Island.
The Isle of Man has been extremely successful in attracting many major international companies to establish life assurance operations on the Island. Its life assurance industry is without doubt the best developed of any offshore centre and is now one of the major employers on the Island.
All companies share a common objective of providing appropriate financial planning solutions whether it be straightforward investment on a regular saving or lump sum basis, saving for retirement, life assurance protection or a tailor-made personalised investment portfolio.
Originally marketing largely to the retired or working British expatriate, IMIA member companies now deal with expatriates of other countries and local nationals around the world. Generally clients are high net worth individuals or high earners who are attracted to offshore life assurance based investments for the following reasons:
- Tax efficiency, as investments accumulate in the Isle of Man virtually tax-free. In addition, in many areas of the world the proceeds and benefits of plans which are technically structured as life assurance policies benefit from advantageous tax treatment.
- Security and confidentiality offered by the Isle of Man location.
Member companies are regulated by the Isle of Man Financial Services Authority (IOMFSA).
Visit the IMIA website for more information.
Isle of Man Bankers Association
The Isle of Man Bankers Association is the trade association of the Banking industry in the Isle of Man. Membership is open to and encouraged for all licensed banking institutions on the island. The current membership of licensed financial institutions is drawn from a spectrum of Banks on the island including clearing banks, building societies, private banks and trust banking operations.
The principal objective of the Association is to represent the interests of the industry and licence holders on the Isle of Man. It provides a forum to discuss and debate issues affecting the industry from regulation to new technology, with a view to creating a consensus of opinion which enables the Association to provide valuable and constructive input to a variety of representative bodies.
The IOMBA has regular forums for consultation with Government, the Financial Supervision Commission, the Institute of Financial Services and the Banking Associations of Jersey and Guernsey, as well as a healthy dialogue with other professional trade associations on the island.
Visit the IOMBA website for more information.
Isle of Man Association of Pension Scheme Providers
The Isle of Man Association of Pension Scheme Providers (APSP) was established to represent pension companies and related service providers based on the Isle of Man.
The APSP main objectives are to:
- provide a forum for discussion and exchange of views for all those involved in the pension industry on the Island.
- work closely with the Isle of Man Government, in particular the Isle of Man Financial Services Authority (FSA), to promote change that will benefit the industry and to provide a collective view on matters affecting the industry.
- act as a link with other industries that are involved in providing services to pension companies and pension trustees.
- raise the profile of the industry
If you're looking for pension scheme providers, visit the Isle of Man APSP website for more information.
Isle of Man Wealth & Funds Services Association
The Isle of Man Wealth and Funds Services Association membership spans the whole spectrum of the Island's wealth and fund services community, including fund managers and administrators, corporate service providers, stockbrokers, wealth, asset and investment managers, life assurance companies, banks, accountants, tax advisors and lawyers.
Together we form a unique industry wide body with a powerful voice to consult with government and regulators for the benefit of our industry. This also allows us to form a positive working relationship with the government for the promotion of our industry and today we work closely with the Department for Enterprise to promote the Island and its services.
Visit the Isle of Man Wealth & Funds Services Association website for more information.
STEP Isle of Man
STEP Isle of Man is an extremely active branch and hosts continual professional development events throughout the year.
The STEP annual conference is always well attended and comprises a full day of topical presentations from industry leaders from both on- and off-island.
The Isle of Man Branch has various Sub-Committees (Technical & Policy, Education and PR); members' review and provides input on relevant new legislation, educational and training matters and local publicity. Members of the Branch Committee also sit on a number of STEP Worldwide boards and committees, contributing to the ongoing development of the Society’s aims and objectives.
STEP Isle of Man has a designated Student Liaison Officer who is available to answer any queries that may arise during the course of a student’s period of study.
The Branch Committee maintain close relations with other professional associations such as The Association of Corporate Service Providers, IOM Law Society and Local Government.
Visit the STEP Isle of Man website for more information.
Isle of Man Law Society
The Isle of Man Law Society works with its Members, the Courts and all branches of Government to ensure that the Manx bar is fully supported in its work and appropriately regulated as a profession, for the benefit of the public the profession and the jurisdiction.
Visit The Isle of Man Law Society website for more information