What's so special about this island so many South Africans are going to?
More and more South Africans are moving to this island – as it targets skilled tech and finance workers.
The island, Isle of Man, is situated between the UK and Ireland and is reported as having the the highest percentage of South African expats in the world, according to IOM Opportunities' Marnie Delaney-Parker.
Despite its small size, the island has world-class infrastructure, work, and business opportunities.
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This now means it has become an increasingly popular hub for certain businesses and workers.
“The Isle of Man has its own immigration rules, that focus on attracting businesses, innovators, and needed talent. It excels by not following the ‘normal’ eligibility criteria that so many other popular emigration countries follow, such as the UK, Australia, New Zealand, and Canada who all work under a strict immigration policy making it sometimes difficult to emigrate to," Delaney-Parker shared.
What makes this island so special is that they offer worker migrants a real alternative that will not see them being turned away for being too old, holding the wrong degree or not scoring enough points. The migration policy and criteria focus purely on attracting the required skills to fill the much-needed skill shortages areas.
This is incredible!
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They currently have a skills shortage across many sectors: digital and finance jobs are by far two of the leading sectors, with a huge talent drain leading to employers frequently looking to recruit from off-island.
She added that major South African companies like Nedbank, Standard Bank, Microgaming, and Derivco have all set up homes on the island.
Delaney-Parker also shared: “With some of the lowest tax rates in the world, including no Corporation Tax, Capital Gains Tax, Inheritance Tax, and low personal tax rates – capped at 20% – it’s the perfect location to start, expand or relocate your business.”
It all makes sense now, right?
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