A business guide
Office Spaceto rent on the Isle of Man
Thinking of renting an office on the Isle of Man? How much space you need, what to look for in a lease, the costs to budget for, and why the island suits business.
Why base your business on the Isle of Man?
- Corporate tax: the standard rate of corporate income tax is 0%. Certain banking income and large retail businesses pay 10%, and income from Isle of Man land and property is taxed at 20%.
- Support: the Department for Enterprise offers a range of grants, loans and investment schemes for new and growing businesses.
- Connections: Ronaldsway Airport has flights to the UK, and much of the island is within half an hour's drive.
How much space do you need?
A common rule of thumb is around 80 to 100 sq ft per person, including meeting and breakout space. On that basis, a 600 sq ft suite could suit a team of around six and an 820 sq ft suite around eight, though your layout, storage and working pattern all make a difference.
Understanding the lease
- Rent: commercial rents are often quoted "per annum exclusive", meaning per year and not including other costs.
- Term and breaks: the length of the lease, and whether there is a break clause allowing you to leave early.
- Rent reviews: when and how the rent can change.
- Repairs: who is responsible for repairs, and what condition you must leave the premises in at the end.
- Other costs: rates, water and sewerage rates, any service charge, utilities, insurance and whether VAT is charged on the rent.
Have an Isle of Man advocate review the lease before you sign.
What to check when you view
- Parking for staff and visitors, and public transport links
- Broadband speed and phone signal
- Natural light, heating and ventilation
- Access for clients and staff, including stairs
- Room to grow, and whether the layout can be adapted
Why Castletown?
Castletown is the island's ancient capital, with shops, cafés and services in its historic town centre. Ronaldsway Airport is about five minutes away by car and Douglas about twenty, making it a well-placed base for the south of the island. Read more about Castletown and the south.
Offices to let now
Barbican House, 8–10 Malew Street, Castletown: two modern office suites in the town centre, 600 and 820 sq ft, from £7,800 per annum.
Frequently asked questions
How much office space do I need per person?
A common rule of thumb is around 80 to 100 sq ft per person, including meeting and breakout space. Your layout, storage and how often people are in the office all make a difference.
What is corporation tax on the Isle of Man?
The standard rate of corporate income tax on the Isle of Man is 0%. Certain banking income and large retail businesses pay 10%, and income from Isle of Man land and property is taxed at 20%. Take advice for your own business.
Do I pay rates on an office on the Isle of Man?
Usually, yes. Commercial property pays rates to the local authority and water and sewerage rates to Manx Utilities, based on its rateable value. Check the lease for who is responsible.
What does 'per annum exclusive' mean?
It means the rent is quoted per year and does not include other costs such as rates, utilities, service charges or VAT, if charged.
Do I need an advocate for a commercial lease?
It is strongly advisable. An Isle of Man advocate can explain your obligations on repairs, rent reviews, break clauses and leaving the premises at the end of the lease.
General information only, not legal, tax or financial advice. Rules and fees change, so always check the current position with an Isle of Man advocate or the relevant government department.