Isle of Man Company Formation

Douglas-Isle of Man

The Isle of Man is a self-governing British Crown Dependency located in the Irish Sea with Ireland to the west, and Great Britain to the east. Tynwald is the parliament. Its capital is Douglas. The currency is the Manx pound, which is set at par value with the UK Pound. The official language of the Isle of Man is English, with the language of Manx Gaelic now only being spoken by a small percentage of the population. The Manx economy is based upon its successful offshore banking and financial services sector, manufacturing and tourism. Low taxes have encouraged the setup of high technology and financial institutions on the island. In recent years the Isle of Man has also became a centre for e-gaming and e-commerce, Yacht and aircraft registration and the film industry. An IOM company can register for vat for EU trade and sales.

• TYPE OF COMPANY: Isle of Man New Manx Vehicle (NMV) *                  
• COMPANY LAW: Companies Acts 1931 to 2004 and 2006 (as amended)                        
• SUFFIX TO DENOTE LIMITED LIABILITY: Limited; Corporation; Incorporated                               
• DIRECTORS: Minimum one natural person “Corporate” Directors allowed if they have a licence issued by the Isle of Man Financial Service Commission – we can provide.                                  
• SECRETARY: No 
• SHAREHOLDERS: Minimum one, of any residency or nationality – we can provide
• CLASSES OF SHARE: Registered             
• CAPITAL REQUIREMENTS: £1                     
• OWNERSHIP: 100% Foreign ownership allowed
• TIME TO INCORPORATE: 2-3 days  
• REGISTERED OFFICE: Required in the Isle of Man – we can provide    
• ANNUAL RETURN: Yes
• ACCOUNTS: Yes (Not required to file)
• DISCLOSURE: No
• TAXATION: Corporate Tax 0% except for banking and insurance business which is taxed at 10%
• GOVERNMENT LICENCE FEE: £360
• DOUBLE TAXATION TREATIES: UK only
• LANGUAGE OF DOCUMENTATION: English

Companies can be registered as limited by shares; by guarantee; or by shares and guarantee (hybrid); unlimited

If you would like further information on setting up a company in the Isle of Man or the formation of an Isle of Man company or other Isle of Man corporate entities or require professional advice relating to taxation or the structuring and requirements of an Isle of Man company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in the Isle of Man.

We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.