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IoM Space Sector Breaks Into New Territory

by Jason Gorringe, Tax-News.com, London

26 October 2011


The Isle of Man government has announced a major milestone in the development of the island's aerospace sector with the successful launch of ViaSat-1, the first satellite to use an Isle of Man licensed orbital filing.

The ViaSat-1 satellite will provide a variety of new satellite Internet access services in the US and Canada, working via ViaSat’s Isle of Man subsidiary and Telesat (IOM) Limited.

“ViaSat-1 is a next generation, high throughput satellite that will provide fast and affordable broadband service to all Canadians,” explained Dan Goldberg, Telesat’s President and CEO.

Chris Stott, Chairman and CEO of ManSat, which facilitated the launch, said, “This is a great day for our clients ViaSat and Telesat and our partners in the Isle of Man government. We are proud to support them in their work.”

The Isle of Man offers many financial and regulatory advantages for the space sector, for example 0% income tax for companies working in the sector, an established professional infrastructure, and financial incentives and grant aid for businesses which create new jobs in the Island.

The Isle of Man Aerospace Cluster (IOMAC) was formed in 2006 by the Isle of Man government and Isle of Man Chamber of Commerce to provide a formal support structure for the Island's aerospace sector. The cluster facilitates the promotion, development and coordination of Isle of Man aerospace companies.

Four of the world’s top 10 satellite companies have a presence in the Isle of Man: SES, Inmarsat, Avanti and Telesat. Other companies involved with space that are based in the Isle of Man include Odyssey Moon, one of the Google Lunar X Prize competitors, and Excalibur Almaz, who are developing a space tourism venture.

TAGS: Isle of Man | tax | business | aviation | international financial centres (IFC) | offshore

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