The United States Government published a model intergovernmental agreement on 26th July 2012 and it is expected that the agreements will be in a similar form to the agreement signed between the United States and the United Kingdom on 12th September 2012. Further to official level discussions between the United States and the Crown Dependencies jointly; formal negotiations will now take place with the intention to rapidly conclude the agreements. The agreements, once signed, will be subject to ratification by each Crown Dependency Parliament and implemented through their relevant domestic legislative procedures.
Isle of Man Treasury Minister, Eddie Teare MHK, commented: "Basing FATCA implementation on an intergovernmental agreement is preferred by our industry and I am pleased to confirm our intention to follow this approach with the US Government. The simultaneous announcement today provides certainty for our business community as they also prepare for FATCA. Entering into this type of arrangement highlights and confirms the Isle of Man's commitments to being a well-regulated jurisdiction which co-operates with other countries on tax matters in accordance with internationally agreed tax standards on transparency and exchange of information. I am particularly pleased that the three Crown Dependencies are working together and are taking a common approach on this issue."
We have the expertise to assist with multi-jurisdictional fiduciary services for international structures
I confirm that I have worked with IQE Limited (“IQE”) indirectly and directly since 2009. Throughout our association IQE has provided company secretarial and administrative services of the highest standard not only for Redefine International P.L.C. but also for its many Isle of Man subsidiaries. IQE has at all times provided services at a very high level in a friendly and efficient manner and it has never been too much trouble for IQE to help us achieve our goals.
Redefine International Property Management Limited and IQE have developed a great working relationship and I would not hesitate to recommend their services." Michael Watters, CEO, Redefine International Group