{"id":758625,"date":"2024-03-10T11:00:00","date_gmt":"2024-03-10T09:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=758625"},"modified":"2024-03-08T15:42:08","modified_gmt":"2024-03-08T13:42:08","slug":"this-european-island-is-on-the-hunt-for-more-south-africans","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/758625\/this-european-island-is-on-the-hunt-for-more-south-africans\/","title":{"rendered":"This European island is on the hunt for more South Africans"},"content":{"rendered":"\n<p>The Isle of Man, in the Irish Sea between England and Ireland, is a popular destination for South African emigrants, with the island hoping to attract thousands of new emigrants over the next five years. <\/p>\n\n\n\n<p>The 8,000 South Africans living in the Crown Dependency&nbsp;comprise over 10% of its population. <\/p>\n\n\n\n<p>There are so many South Africans on the island that the first-ever &#8220;Saffas Festival&#8221; was hosted last year. <\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"TtMOK1AXu4\"><a href=\"https:\/\/businesstech.co.za\/news\/lifestyle\/722876\/this-country-hosted-a-festival-for-south-african-expats-which-now-make-up-10-of-its-population\/\">This country hosted a festival for South African expats &#8211; which now make up 10% of its population<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;This country hosted a festival for South African expats &#8211; which now make up 10% of its population&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/lifestyle\/722876\/this-country-hosted-a-festival-for-south-african-expats-which-now-make-up-10-of-its-population\/embed\/#?secret=sDSct0eMjB#?secret=TtMOK1AXu4\" data-secret=\"TtMOK1AXu4\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>In addition, the Isle of Man&#8217;s Island Plan seeks to grow the economy and population and is increasingly catching the attention of South Africans looking to move. <\/p>\n\n\n\n<p>&#8220;The island&#8217;s five-year plan is all about economic security and stability going forward,&#8221; said Marnie Delaney-James, Director of Isle of Man Opportunities. <\/p>\n\n\n\n<p>&#8220;The Isle of Man Government has set the island a target of increasing the 86,000 current population by another 15,000 over the next five to seven years.&#8221; <\/p>\n\n\n\n<p>Delaney-James said that this population growth can only be achieved through relocation to the island. <\/p>\n\n\n\n<p>There are over a thousand vacancies on the island, with job openings in the finance, digital and hospitality sectors. <\/p>\n\n\n\n<p>The Isle of Man Government also has a massive \u00a31 billion (roughly R24 billion) long-term public and private investment program to assist in creating roughly 5,000 new roles and achieve an economy of circa \u00a310 billion approximatelyy R240 billion). <\/p>\n\n\n\n<p>Increased expenditure on infrastructure is designed to accommodate the increase in population. <\/p>\n\n\n\n<p>Isle of Man Opportunities said that it helped 45 South Africans relocate to the island in the last three months. <\/p>\n\n\n\n<p>The island is renowned for its low crime rate, stable government, strong education system and short commute times. <\/p>\n\n\n\n<p>&#8220;More and more businesses are also opening on the island or relocating to the island to enjoy the tax benefits, 0% rated capital gains tax and also to benefit from The Financial Assistance Scheme which allows businesses, either new start-up businesses or businesses relocating to the Isle of Man, to apply for a range of grants and soft loan support from the Department for Enterprise,&#8221; said Delaney-James. <\/p>\n\n\n\n<p>Another benefit is the Employee Relocation Scheme, which aims to encourage job growth and the import of skills and talent from off-island across certain sectors through a \u00a310,000 award to employers per off-island employee. <\/p>\n\n\n\n<p>New or relocating businesses can also apply for grants of up to 40% for capital and operating items, up to 100% of the business premises&#8217; first-year rent payable, marketing costs for off-island activity and business set-up fees, including legal fees, relocation costs and other professional fees. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/property\/758561\/mafias-targetting-sitting-duck-projects-in-south-africa\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mafias targetting \u2018sitting duck\u2019 projects in South Africa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A tiny island in the Irish Sea is offering massive tax benefits for South African businesses that move their operations. <\/p>\n","protected":false},"author":95,"featured_media":758627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9876],"tags":[26],"class_list":["post-758625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/758625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=758625"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/758625\/revisions"}],"predecessor-version":[{"id":758901,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/758625\/revisions\/758901"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/758627"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=758625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=758625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=758625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}