THE MAIN CHARACTERISTICS OF Isle of Man COMPANY

General

Type of entity Limited Liability Company
Type of law Common
Shelf company availability Yes
Our time to establish a new company 3-5 days
Minimum government fees (excluding taxation) GBP 100
Corporate Taxation 0%
Double taxation treaty access Yes, not numerous

Share Capital or Equivalent

Standard currency/Permitted currencies GBP/Any
Usual authorized capital GBP 2,000
Minimum paid up GBP 1

Directors

Minimum number One
Local required No
Location of meetings Anywhere
Publicly accessible records No

Shareholders

Minimum number One
Publicly accessible records No
Location of meetings Anywhere

Registered Agent

Required Yes
Local required Yes

Accounts

Requirement to prepare Yes
Audit requirements No
Requirement to file accounts No, but must be available for inspection in the Isle of Man
Publicly accessible accounts No

Other

Requirement to file annual return Yes
Change in domicile permitted Yes

Presentation of jurisdiction

At the geographic centre of the British Isles, in the Irish Sea, you can find The Isle of Man with an area of 227 sq. miles and a population of 85,000 inhabitants. Even though the Isle of Man is not a part of United Kingdom, it is responsible for the Isle of Man’s foreign relations, defence and good-governance. The Isle of Man also enjoys other special legal statuses, the most relevant being its special connection with the EU. As a non-Member State Isle of Man inhabitants and companies enjoy free movement for goods and services in the EU Member States. The stability of its politics and jurisdiction provides a favourable fiscal environment, which has given a way for a highly developed financial industry services with the main activities in:

  • Banking;
  • Life and captive insurance;
  • Fund management trust;
  • Fiduciary business.

Who should choose Isle of Man Company and for which activities?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers;

Which activities?

  • International trade;
  • Inheritance tax purposes;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF ISLE OF MAN

Advantages of a company in Isle of Man:

  • No corporate tax rate for the majority of business activities;
  • No capital gain tax and no withholding tax are paid on dividends;
  • Excellent wide possibilities for trade with Europe;
  • Famous well-established international financial center;
  • Great flexibility provided by operating under a member agreement.

Disadvantages of a company in Isle of Man:

  • Some operations might be considered to be expensive.

How to proceed

To incorporate or purchase a company the following documentation should be provided:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.