Isle of Man based trading house - interested?

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Old Jul 4, 2011, 11:33am   #1
 
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Isle of Man based trading house - interested?

I work for an Isle of Man based Private Equity firm. We are considering setting up a trading house in the Isle of Man, and wanted to gauge whether there would be any interest in this? I would also appreciate any other feedback or comments that anyone had on this idea.

The benefit of the Isle of Man is it's low rates of tax for individuals. The higher rate of tax is 20% (a 30% saving vs. UK!) There is also a Tax Cap of £115k, on high earning individuals.

The IT infrastructure in the Isle of Man is world class, and the quality of life is very high.

The model I have in mind would be to set up a trading house to attract EXPERIENCED traders with a proven track record. We would provide Bloomberg/Reuters access, live news feeds, etc. We would also look to provide access to the necessary trading platform (to suit each trader). We do not propose charging a desk rental.

We envisage each trader trading through a joint account, which has £1 of our private equity money for every £1 of the individual traders’ funds. This way there is a true partnership, with both parties making money together.

I would be grateful to hear if this model sounds interesting to anybody, or if anybody has any feedback on what I have set out above?
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Old Jul 4, 2011, 12:47pm   #2
gc1
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Re: Isle of Man based trading house - interested?

I doubt if many people here are making enough money to make a move out of the U.K. worthwhile. If I understand HMRC rules correctly self employed people have to leave the U.K. for at least 3 complete tax years (with up to 90 days/year average allowed back in the U.K.) in order to no longer be U.K. taxed. Anyone moving back earlier would not benefit.
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Old Jul 4, 2011, 2:04pm   #3
 
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Re: Isle of Man based trading house - interested?

I can't see what the attraction is here, how much of the profits on your half of the money does the trader get to keep? What happens if they lose money?
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Old Jul 4, 2011, 4:43pm   #4
Joined Nov 2008
Re: Isle of Man based trading house - interested?

Quote:
Originally Posted by Neil24 View Post
The IT infrastructure in the Isle of Man is world class, and the quality of life is very high.
Ya think? Why go to that rock when you could be based in Gibralter or Malta?

Most of these fishing expeditions on T2W are not genuine, look, if you'd done your homework, knew it would work, had the plan and the money you'd just do it, you wouldn't mince around on trading forums inviting "what do others think?" type comments on a message board you have no history with..if it sounds and smells small time it usually is..
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Old Jul 4, 2011, 5:21pm   #5
j b
Joined Jun 2010
Re: Isle of Man based trading house - interested?

Quote:
Originally Posted by Neil24 View Post
The model I have in mind would be to set up a trading house to attract EXPERIENCED traders with a proven track record. We would provide Bloomberg/Reuters access, live news feeds, etc. We would also look to provide access to the necessary trading platform (to suit each trader). We do not propose charging a desk rental.

We envisage each trader trading through a joint account, which has £1 of our private equity money for every £1 of the individual traders’ funds. This way there is a true partnership, with both parties making money together.
50% split with free desk is not going to appeal to experienced traders who are used to paying £2k for desk and getting 90% splits.
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Old Jul 4, 2011, 8:03pm   #6
 
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Re: Isle of Man based trading house - interested?

Quote:
Originally Posted by Neil24 View Post
I work for an Isle of Man based Private Equity firm. We are considering setting up a trading house in the Isle of Man, and wanted to gauge whether there would be any interest in this? I would also appreciate any other feedback or comments that anyone had on this idea.

The benefit of the Isle of Man is it's low rates of tax for individuals. The higher rate of tax is 20% (a 30% saving vs. UK!) There is also a Tax Cap of £115k, on high earning individuals.

The IT infrastructure in the Isle of Man is world class, and the quality of life is very high.

The model I have in mind would be to set up a trading house to attract EXPERIENCED traders with a proven track record. We would provide Bloomberg/Reuters access, live news feeds, etc. We would also look to provide access to the necessary trading platform (to suit each trader). We do not propose charging a desk rental.

We envisage each trader trading through a joint account, which has £1 of our private equity money for every £1 of the individual traders’ funds. This way there is a true partnership, with both parties making money together.

I would be grateful to hear if this model sounds interesting to anybody, or if anybody has any feedback on what I have set out above?
Its a fuc-king joke right?
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Old Jul 7, 2011, 11:14am   #7
 
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Re: Isle of Man based trading house - interested?

ouch!
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Old Jul 7, 2011, 11:16am   #8
 
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Re: Isle of Man based trading house - interested?

Neil24 started this thread
Quote:
Originally Posted by safvan View Post
Its a fuc-king joke right?
Nope.
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