Offshore: The final frontier
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.
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
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