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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 or qualified
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.

INTEREST OF THE JURISDICTION

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.

Possible 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:

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

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:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening