History

History

At Browne Craine & Co we strive for quality and the highest standards in every aspect of our business. We are equipped and structured to maximise the benefits and advantages of this world class financial centre for corporate and private clients, here and abroad.

The Isle of Man is of Celtic origin, having been conquered by the Vikings in the 10th Century. Until the 19th Century, the Island was predominantly a community built on farming and fishing, until the advent of tourism. By virtue of the world famous Isle of Man TT Motorcycle races, the Island attracts tens of thousands of visitors to its shores each year.

Whilst tourism remains important to the Island's economy, the offshore financial sector is now the largest industry in the Isle of Man. From its beginnings in the 1960s, the Government recognises the importance of this industry and actively promotes its continued expansion.

With a current population standing at almost 88,000 people, this shows a significant indicator of the growth and prosperity and stability of the Island's economy.

The Isle of Man is situated in the centre of the British Isles and is an internally self-governing dependent territory of the Crown that is not part of the United Kingdom. Tynwald, the Island's 1000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. Both individuals and companies who are resident in the Isle of Man for income tax purposes enjoy independence from the United Kingdom on matters of direct taxation.

Peregrine Tiagnet ICAEW