Choose the jurisdiction which best suits your needs
Isle of Man
Private Company Limited by Shares
Procedures to incorporate
The Isle of Man is an island of 221 square miles located in the Irish Sea, equidistant between the northeast of Ireland, the southwest of Scotland, and the northwest of England.
The benefits of Isle of Man Company
- Zero Corporation Tax: profits on a company are taxed at 0% (banking and insurance business are taxed at 10%).
- Zero Capital Gains Tax: on the sale of the holdings no tax will be paid on the capital gain.
- Zero Inheritance Tax: property held within an Isle of Man company will not pay any inheritance tax in the estate of the ultimate owner.
- Zero Stamp duty: in certain cases stamp duties on the transfer of the property/holdings can also be mitigated.
- VAT Registration: an Isle of Man company can register for VAT for EU trade and sales.
General Company Information
- Type of Law: Common
- Type of Entity: Limited
- Time of Incorporate: 2 days
- Minimum Government Fees: £380
- Minimum number: One (and can be Corporate)
- Local Directors required: No
- Public records: Yes
- Location of Meetings: Worldwide
+ Company Secretary
This is an optional role for private companies, so you do not have to appoint a secretary if you do not need or want to unless the articles of association state otherwise. Public companies are also required by law to have a company secretary appointed at all times.
+ Share Capital
Every company must state in its memorandum of association the amount of authorised share capital with which it is to be registered and how such share capital is to be divided into shares of a fixed amount. The authorised capital may be increased, or re-organised by resolution of the company in general meeting. A private company must have a minimum of one share in issue while a public company must have a minimum of two shares in issue. Further shares can be issued up to the amount of the authorised capital, and shares cannot generally be issued at a discount.
+ Annual Accounts
There are no requirements in the Isle of Man to file annual financial statements. Yearly profit and loss statements, balance statements and directors’ reports must be prepared and kept at the registered office despite there being no need to file these documents.
+ General Information
- Transfer of Domicile permitted: Yes
- Annual Return required: Yes
Private limited companies are owned by one or more individuals (human or corporate) known as ‘members’. The members of limited by shares companies are called shareholders. The members of limited by guarantee companies are known as guarantors. Location of meetings are on a worldwide basis.
- Publicly accessible records: Optional
+ Corporate Taxation
Companies resident in the Isle of Man are taxed on their worldwide income and are required to file an annual income tax return reporting worldwide taxable profits calculated in line with local legislation and practice. A non-resident company incorporated outside the Isle of Man but having a place of business or a permanent establishment (PE) on the Isle of Man will be taxed on the profit attributable to the Isle of Man establishment.
There are three rates of corporate income tax (CIT):
- The 10% rate applies to income from (a) a banking business carried on in the Isle of Man on the basis of a deposit taking license issued by the Isle of Man Financial Services Authority, and (b) retail activities (i.e., the sale of goods to consumers through retail premises) carried on in the Isle of Man, but only if that profit exceeds 500,000 Isle of Man pounds (IMP) in the year.
- The 20% rate applies to income derived from real estate situated in the Isle of Man.
- The 0% rate applies to all other income.
Packages and Prices
Isle of Man
The cheapest option company formation, payment government fees, registered office, local registered agent, Client Due Diligence (CDD) full and free tax and legal assistance, and much more, to keep your entity fully compliant.
A special package with all services as included on the Standard Package, plus our Bank Account opening services with an internationally known financial institution, offering you online banking, multi-currency account, debit cards and all other major banking services you may need.
A package with all services as included on the Business Package plus full Nominee Services (Nominee Members and Managers) providing you the highest degree in terms of confidentiality and anonymity.
How can we help you?
Should you have any question, our Business Development Managers team will be ready to guide and assist you!