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Isle of Man - pro's and con's of buying there.
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motherbored21
Posts: 144 Forumite
Would you buy?
Property prices equivalent to the Home Counties
Property prices equivalent to the Home Counties
0
Comments
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I don't think the IOM authorities are that welcoming unless you're bringing millions with you. Rather like the Channel Islands are with outsiders wanting to settle.0
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But you can buy there, unlike Jersey, where you an only rent.
Income tax rate is good too.0 -
Income-tax rate is only relevant if you can get a job there. And they won't let you enter if you don't have one. No unemployment benefits. No national health service. Once a state decides not to fund these, it become an option to reduce the income-tax rate.
Which "side of the mountain" are you thinking of? From all accounts it's an isolated pocket living like it was back in the 50s, or nearabouts.0 -
Don't think there is any restriction on UK citizens living there.BitterAndTwisted wrote: »Income-tax rate is only relevant if you can get a job there. And they won't let you enter if you don't have one......
https://www.gov.im/categories/benefits-and-financial-support/social-security-benefits/moving-to-the-isle-of-man/0 -
Pretty sure they have an NHS too, or is it all private health care for no-island residents?
I know a work permit is needed if you want to work, but they don't see to hard or expensive to obtain.0 -
What are you asking? Are you asking whether it is a good idea to buy on the Isle of Man if you live there, or are you asking if it is a good idea to move to the Isle of Man?0
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