The Isle of Man is a significant banking jurisdiction, our practice combines industry knowledge, tax, and other skills
The Banking practice combines industry knowledge, tax, and other skills
All of the UK clearing banks, many of the other larger UK banking groups, and a number of international banking groups have a presence in the Isle of Man, either by way of a branch or a subsidiary. The banking sector on the Isle of Man offers all of the services that private, corporate and institutional entities may need.
The Financial Services Authority regulates banks and building societies on the Isle of Man. For a bank to be granted a licence to operate in the Isle of Man, therefore, it first has to pass the rigorous standards set by them. Licensed banking institutions provide a wide range of banking services to local and international customers.
The Global Financial Crisis has had a profound impact on the banking industry globally and the resulting wave of regulation coincided with the technological developments; and this continues to present both challenges and opportunities.
KPMG Isle of Man act as auditors to a number of banking institutions on the Island as well as providing advisory and tax services to many more.
We welcome the opportunity to discuss how we can help you achieve your business objectives so please contact us at the top right of the page with any questions you may have.