The Isle of Man, a tax haven for the ultra wealthy, has removed the registration of a helicopter attached to a sanctioned Russian oligarch’s yacht and 17 private jets with Russian ties, according to The Guardian.
According to the official website, the island, which is located in the Irish Sea between Britain and Ireland, has an aircraft registration that includes high-quality private and business planes as well as helicopters.
According to The Guardian, the island’s registry might help the wealthy to avoid paying taxes in other countries. The Isle of Man has a reputation for having a low-tax economy.
The steps taken by the Isle of Man support the United Kingdom’s and European Union’s bans on any Russian aircraft flying in their airspace, which were imposed in response to President Vladimir Putin’s invasion of Ukraine.
According to an Isle of Man press release supplied to Insider, 18 aircraft and two yachts were deregistered as of Wednesday due to their Russian ties. It also issued a notice on 39 ships having Russian ties, according to the statement.
According to Alex Allinson, the Isle of Man’s minister for enterprise, being deregistered means jets can’t lawfully fly and ships can’t legally sail.