Isle Of Man Company - Offshore Company Formation

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Isle Of Man Company - Offshore Company Formation JURISDICTIONS & FEES

• General
• Type of Company : Exempt
• Political Stability : Good
• Standard Authorised Capital : No
• Tax on Offshore Profits : Nil

• Corporate Requirements
• Local Registered Office and Registered Agent Required : Yes
• Minimum Number of Directors / Managers : 2
• Local Directors Required : Yes (Min. One)
• Corporate Directors Permitted : No
• Minimum Number of Shareholders / Members : 1
• Local Shareholders Required : No
• Corporate Shareholders Permitted : Yes
• Company Secretary Required : Yes, Local
• Bearer Shares Allowed : No

• Annual Requirements
• Filing of Annual Return : Yes
• Submit Audited Accounts : No
• Min. Annual Tax / Licence Fees : ￡430
• Shelf Companies Available : No

Isle Of Man - Offshore Company Formation GENERAL INFORMATION

• Isle Of Man INTRODUCTION
  The Isle of Man is located in the Irish Sea between England and Ireland. Its total area is 588 sq. km. And its population is approximately 70,000 resulting. The Isle of Man is not part of the United Kingdom. A third of the population live in the capital, Douglas, and its suburbs. It is a British Crown dependency and the ultimate responsibility for the Island's good government is vested in the Crown but by long standing convention, the UK Government does not legislate for the Island except with the specific consent of the Island's Government.
• The Island has a special relationship with the European Community: whilst it is associated with the EC the Isle of Man is excluded from the Community's fiscal harmonisation policy. The Island is a part of the UK VAT area and does impose VAT on goods and services. As such, an Isle of Man company may be registered for VAT and may therefore prove a suitable vehicle for international trade with other member states of the European Union.

• Isle Of Man LANGUAGE
• The official language is English although Gaelic is also spoken.

• Isle Of Man TYPE OF LAW
• English Common Law

Isle Of Man Company Information

• Isle Of Man Company TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
• The Limited Exempt Company and the Limited Liability Company.

• Isle Of Man Company TIME TO INCORPORATE
• Three Days, but allow ten working days for receipt of documentation.

• Isle Of Man Company RESTRICTIONS ON NAME AND ACTIVITY
• The following words cannot be used without further approval; bank, assurance, casualty, guarantee, indemnity, insurance, re-insurance, surety, underwriting, bank, trust, trustee, holdings, international, group, global, worldwide, European, finance, securities, etc.
• Limited Exempt companies must use Limited or Ltd as a suffix.

• Isle Of Man Company CLASSES OF SHARES PERMITTED
• Registered shares, preference shares, redeemable shares and shares with or without voting rights.

• Isle Of Man Company DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
• No.

• Isle Of Man Company LICENCE FEES
• Exempt companies pay an annual licence fee of ￡600 per year.

• Isle Of Man Company FINANCIAL STATEMENT REQUIREMENTS
• Whilst there is no requirement to file annual audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.

If you would like further information concerning Isle Of Man Company Incorporation, please contact our professionals and we will provide you with free advisory.

Offshore Company Listing

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