Lisa Osland, yacht and aircraft manager at IOMA Solutions, writes about the success of the yachting and aircraft industries.

The yacht and aircraft industries are constantly evolving.

I don't need to tell you that there can be obstacles to overcome when it comes to the day to day ownership of these assets but owners needn't despair, help is at hand in the form of a supportive and long established industry on the Isle of Man. 

It is the ever changing rules and regulations that we have to keep up to date with and if necessary adapt accordingly.

It is with this in mind that it becomes imperative that owners seek the correct structuring advice from experts in the industry. 

Over the years I have found the following to be some of the obstacles that owners face: changes in VAT rulings (we all know there have been several high profile cases!), adjustments to current structuring, limitation of liability, inheritance and succession planning, assistance with back office burdens and, as some may say, the right to have privacy.

I personally feel very privileged and fortunate to be providing corporate services within the yacht and aircraft industries on the Isle of Man. 

Here in the Isle of Man, not only do we have the resources to assist with these issues and access to a full range of industry professionals, we also have access to our own yacht and aircraft registers. 

Both registers are renowned for their growth, competitive edge, impeccable service and certainly speak for themselves.

Anyone who has had dealings with Brian Johnson, Dick Welsh or their teams will know how supportive they are, so it's no surprise that the registers have been so successful.

It would be impossible to put the Island's success in these industries down to any one aspect, but a key factor must be the Isle of Man's standing in the international community.

We have a reputation as a tax-efficient, but responsible and co-operative jurisdiction and appear on the OECD 'white list' of countries complying with global standard for tax co-operation and exchange of information.

The Island also boasts a high regulatory standard, has no insurance premium tax and holds a Standard & Poor's and Moody's AAA rating, all of which, when combined, set us apart from competing jurisdictions.

Without this reputation, my own task of delivering a professional and valued service to owners would be so much harder.

I can honestly say that with the huge government support and infrastructure the Island has for the corporate, yacht and aircraft industries and the fact that it is placed as one of the world leaders in these fields, I couldn't think of a better place to be based.

So perhaps the question shouldn't be why is the Isle of Man so popular with yacht and aircraft owners, but why wouldn't it be?

To find out more contact Lisa on 01624 681 209 or click here.