The Isle of Man's parliament, Tynwald, is discussing a Residence Bill which, if it becomes law, would give the island's administration the power to impose immigration controls on non-Manx individuals.
The Isle of Man, like almost all offshore financial centres, many of which are small, crowded islands, already imposes work permit restrictions on immigrant labour.
Some offshore jurisdictions go further and impose residence restrictions either through a quota system, through extended waiting periods, or, like Jersey, through a system of development and housing control which limits the amount of accommodation available to immigrants. The usual effect is to exclude all but the wealthiest of long-term immigrants. Monaco is perhaps the most extreme example of this. The population divides into three (apart from tourists): locals, immigrant workers and the rich.
The Isle of Man is being pressured by shortage of housing for its local population - this is a normal symptom of increasing success for an offshore jurisdiction. Not so long ago, the Isle of Man could be regarded as a slightly quirky and rather down-at-heel English county, with a dowdy seaside resort (Douglas, the capital). But the success of the island's offshore financial services sector, together with a flow of wealthy individuals seeking relief from high EU taxes, is quickly driving house prices higher.
Local 'Manx' inhabitants form a high (although declining) proportion of the total population of 72,000, and by no means do they all benefit from the increasing wealth of the 'offshore' economy. Faced with the prospect of its indigenous population becoming paupers in a land of wealth, the Manx government will eventually have to follow other such jurisdictions in controlling rents and sale prices, or in limiting access to housing for foreigners.
The Government says it has no immediate intention of using the legislation now being discussed - but don't expect it to sit on the shelf for very long.
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