The Isle of Man is the only jurisdiction in the world to offer a zero tax rate for the space sector, and the jurisdiction’s lawyers are finding themselves advising on matters not of this earth. Andrew Corlett and Heather Gordon report
Over the last decade the commercial space sector has flourished and it is presently reported to have an annual global turnover of $261bn (£165bn). The rapid development of commercial space is creating something of a revolution, one that is reminiscent of commercial aviation in the 1920s. And this is a revolution that has not passed the Isle of Man by.