Introducing Standard Bank Isle of Man Limited
At Standard Bank Isle of Man Limited, we distribute our range of banking products to clients through a global network of Independent Financial Advisory (IFA) firms. IFA’s are looked after and serviced by a team of six regional Business Development Managers and two IFA Support Officers who are based in our office on the Isle of Man. With service at the heart of our culture, our dedicated team will help to provide a welcoming environment where they consistently strive to make things simpler for you.
Where we are located
The Isle of Man is a well respected self-governing international financial centre located off the North West coast of the United Kingdom where it enjoys exceptional political and economic stability with a history of over 1,000 years of continuous parliamentary government. The Isle of Man’s status as a major financial centre is supported by Moody’s Credit Rating Agency who have awarded it an Aa1 Sovereign credit rating.*
Our office in the Isle of Man opened in 1992 and has now been operating for over 20 years.
About us
Standard Bank Isle of Man Limited is part of Standard Bank Group Limited, Africa’s premier banking and financial services institution. Established in 1862 Standard Bank Group is Africa’s largest Bank by assets and earnings and employs nearly 50,000 people worldwide. Based in Johannesburg, South Africa, it is the holding company for the group’s worldwide operations.
As at 31 December 2013, Standard Bank Group had total assets of US$ 162 billion and in March 2008 the World’s largest bank, the Industrial Commercial Bank of China (ICBC), paid US$5.5 billion for a 20% shareholding.
Why the Isle of Man?
• Access to secure and politically stable jurisdiction
• Sophisticated global communication links
• Banking services ideally suited to a transient population
• Ability to accumulate funds for future use e.g. buying property overseas, travelling abroad and as an onward investment
• No exchange control restrictions apply to accounts held with Standard Bank Isle of Man Limited
• Interest is paid on savings and investment accounts without deduction of tax at source, although you may have a liability to tax elsewhere**
• Potential tax planning and inheritance tax benefits
Our products
Our flagship product, the Optimum Account, is a fully transactional international bank account available in Sterling, US Dollar, Euro and Australian Dollar with a minimum initial deposit requirement of £4,000 | US$6,000 | €6,000 | AU$6,000 (as applicable). This is a flexible, interest bearing current account with the optional benefit of a Visa debit card.
For information on our full range of deposit accounts, including structured deposits and structured notes, please speak to one of our team.
Further information can also be found on our website at www.standardbank.com/ifa.
Isle of Man Depositors’ Compensation Scheme
Deposits made with Standard Bank Isle of Man Limited are covered by the Depositors’ Compensation Scheme as set out in the Depositors’
Compensation Scheme Regulations 2010.
For more information regarding this scheme, please visit www.fsc.gov.im/investor/dep_comp.xml
*Source: Moodys.com
**Please note: We are not tax advisers and therefore suggest that you seek independent tax advice from an accountant or other suitably qualified adviser as to your own tax position. Levels of, bases for and relief from taxation can change in the future and depends on the individual circumstances of the client.
