Isle of Man

Isle of Man - Offshore company - Overview

Isle of Man is situated in the waters of the Irish Sea; at the geographic center of the British Isles it is quickly accessible by air from all major UK centers within approximately an hour making it a convenient offshore jurisdiction.
Isle of Man jurisdiction is a Crown Dependency with a high level of autonomy and it has never been a part of the UK. UK is responsible for only the island's foreign relations, defense and good-governance.


Isle of Man is not a member of the EU, but has a special status in terms of free movement of the goods and services (associate member). Being economically and politically stable, it represents a favorable tax environment and its economy is based on highly developed financial industry services (banking, insurance, trusts and investments fund management). The jurisdiction is considered the most preferred by non-UK companies wishing to incorporate when listing on London's Alternative Investment Market.
Since 1865, Isle of Man offshore jurisdiction has the Companies Registry, which require examining and storing information delivered under the Acts, make this information available to the public, ensure that filing requirements are met and take remedial action where necessary and dissolve or deregister defunct businesses.


The Isle of Man is a well-established international financial center. The quality of its reputation has been securely established on the foundations of political stability, low taxation and the strength of its fiscal, legislative and regulatory controls.
Some of the main advantages to registering an offshore company in Isle of Man are: is a highly regarded jurisdiction due to stringent compliance laws; prestigious offshore jurisdiction suitable for those who need VAT registration to trade with EU; zero corporate tax rate; no capital gain tax and no withholding tax is paid on dividends; there are no exchange controls; no authorized or issued share capital requirements for an offshore company.


You have several entity types you can incorporate in Isle of Man: NMV, Hybrid (Private Limited by Guarantee and having a Share Capital), Resident LLC, Private Limited and Limited Partnership Company, Trust or Foundation.

Isle of Man

GENERAL INFORMATION

Type of Company

Exempt

Type of Law

Common

Company Registration Timescale

1-5 day

Disclosure of Beneficial Owner

No

Migration of Domicile Permitted

Yes

Tax on Offshore Profits

No

CORPORATE REQUIREMENTS

Minimum Number of Shareholders/Members

One

Minimum number of directors/managers

Two

Bearer shares allowed

No

Corporate secretary required

Yes

Standard authorized capital

£ 2,000

LOCAL REQUIREMENTS

Registered office/agent

Yes

Company secretary

Yes

Local directors

Yes

Local meetings

No

Government register of directors/managers

Yes

Government register of shareholders/members

Yes

ANNUAL REQUIREMENTS

Annual return

Yes

Submit accounts

No

Isle of Man Incorporation Costs

Company registration

1,900  Euro

Bank account

390  Euro

Annual Tax (from 2nd year)

1,900  Euro

  Accounting 2,500 Euro  

Optional/Additional costs

*Seychelles Nominee Director & Shareholder

1,200 Euro

Local Nominee Director / year

 Ask Quotation

Local Nominee Shareholder / year

  Ask Quotation

Certificate of Good Standing

 300 Euro

Power of Attorney

200 Euro

Apostil/document

300 Euro

  Accounting 2,500 Euro  

Company Seal / Rubber stamp

50 Euro

Courier Delivery

80 Euro

*optional