Employee Relocation IncentiveIs your business interested in relocating an employee to the Isle of Man? The Employee Relocation Incentive means that your business could receive up to 20% of your employee's first year's salary costs.
The Employee Relocation Incentive allows employers who have a new position and are unable to secure local workers, to receive funding towards an employee's first year new salary, where the employee is recruited off-island.
In it's first year, the incentive was highly successful, helping local businesses secure over 200 new employees who have relocated to the Isle of Man and are now contributing to the Island's economy. The incentive is relatively simple and not intended to take away opportunities from local workers but is instead put in place to grow the Island's workforce where local employees are unavailable.
How could this help my business?
This incentive provides a 20% grant of up to £10,000 towards the cost of a relocating employee’s first year net salary (minimum salary must be £25,000) paid 1 year post successful recruitment. The incentive can be used for existing or new roles within the organisation and includes back filled positions.
Employers are able to use the Incentive in a range of ways - some businesses have used it to find suitable candidates, others to engage with recruitment agencies, whilst many use it to support candidates with relocation costs.
The overall aim of the incentive is to help local employers find additional, skilled workers and ensure they find continued growth and success in the Isle of Man.
Am I eligible?
The assistance is available to a range of businesses and sectors, including:
Financial and Professional Services
- Fund Management
- Management of Ships, Yachts and/or Aircraft
- Legal and Accounting
- Other Financial Services
- Quantity Surveyors and Architects only
- Import Substitution
- Information and Communication Technology (ICT)
Tourism and Hospitality
- Head Housekeepers
How do I apply?
Businesses considering applying for the Employee Relocation Incentive should visit the Department for Enterprise - Employee Relocation Incentive webpage to download the official guidelines. Once you have confirmed your eligibility, you will be able to access the application form which is available for download here.
If you have any queries regarding this incentive, please contact a member of the Department for Enterprise team.
If you have any questions relating to your relocation to the Isle of Man, please contact a member of our team.