The Isle of Man is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland. Part of the Norwegian Kingdom of the Hebrides until the 13th century, when it was ceded to Scotland, the Isle of Man came under the British crown in 1765. Though the Isle of Man is a British Crown Dependency, it is not part of the United Kingdom (UK) or the European Union (EU). However, the United Kingdom remains constitutionally responsible for its defence and international representation. The Isle of Man is divided into 16 local authorities, with Douglas as the capital. The official language of the Isle of Man is English.
The Isle of Man is in currency union with the United Kingdom, and the Manx pound is a local issue of coins and banknotes denominated in pounds sterling. An official separate currency code for the Manx pound does not exist; but where a distinct code is desired, IMP (Isle of Man pound) is generally used.
Offshore banking, insurance, fiduciary services, e-gaming, manufacturing, and tourism are key sectors of the Isle of Man's economy. The government offers incentives to high-technology companies and financial institutions to locate on the island. Trade is mostly with the United Kingdom. As a result of its relationship with the United Kingdom, the Isle of Man enjoys free access to EU markets.
PwC is a leading firm of chartered accountants in the Isle of Man, with an office in the capital, Douglas.