The Isle of Man Government is looking to expand the island’s workforce. The Department for Enterprise has announced an Employee Relocation Incentive Scheme.
Recruit from off-island in certain sectors and you could claim up to £10,000 per employee.
This is in the Island’s national interest as it helps to grow the economy and to generate additional tax revenue.
In order to encourage such expansion and in recognition of the additional costs in recruiting and relocating off-Island employees, financial assistance may be available where:
- A new or existing eligible business creates new jobs, fills existing vacancies or relocates jobs to the Island from elsewhere; and
- Subject to compliance with the Control of Employment Act 2014 and the Immigration Act 1971, the jobs are taken by off Island workers.
Businesses recruiting staff engaged in the following sectors are eligible for support:
FINANCIAL AND PROFESSIONAL SERVICES
- Fund Management
- Management of Ships, Yachts and/or Aircraft
- Legal and Accounting
- Other Professional & Financial Services
- Import Substitution
- Information and Communication Technology (ICT)
THE BUSINESS MUST
• Be in an eligible sector;
• Have a permanent establishment / place of business on the Island;
• Be an eligible business under the Enterprise Act 2008 (Eligible Businesses) Regulations 2018;
• Be up-to-date in respect of Income Tax, VAT and National Insurance; and
• Submit their application in advance of appointment.
THE JOB MUST
Constitute permanent, regular employment; and
• Not be an excluded employment; and
• Offer a minimum starting salary of £25,000.
THE EMPLOYEE MUST
• Be directly employed by the business;
• Work predominantly in the Island;
• Not have been a resident on the Island for Income Tax purposes prior to employment in the job; and
• Become resident on the Island for income tax purposes for the period of employment in respect of which the grant is claimed.
FURTHER INFORMATION AND HOW TO APPLY
For more detailed information, including full terms and conditions please fill in our online financial assistance enquiry form at: http://www.iomdfenterprise.im/eri
Tel: +44 (0) 1624 686400