Set your business in Isle of Man
An excellent European option for international trade.
VAT in the
Isle of Man
Isle of Man
Cryptocurrency
Economic Substance Requirements
Companies conducting relevant activities are required to have economic substance.
Why Register a company with us?
Looking to Open a Company? We make incorporating a company as easy as possible, so you can focus on the important things.
We have a full suite of startup services, like banking, bookkeeping and tax planning consultancy, which means Eurofinanzza not only helps you get started, but supports you in your continued success as your one-stop shop. Start your Company set up today!
Tell us about your
business
We’ve taken the complexity out of forming your business company. Our online form can be completed in less than 10 minutes.
We take care of the
paperwork
Based on the information you provide, we prepare all required documents and file them directly to the appropriate entity.
Receive your
documents
Once your incorporation documents have been approved by the state, you’ll receive your completed company package by email.
Some Banking Options
How to incorporate your business company in Isle of Man
Company formation in the Isle of Man-
Company registration in Isle of Man is an attractive option for international entrepreneurs seeking ways to reduce taxes and overhead expenses.
Key benefits include:
The Isle of Man does not belong to the UK or the EU but is rather classified as a British crown dependency. Under the 1979 Customs and Excise Agreement, the Isle of Man is treated as part of the UK for VAT purposes and customs duties are not applicable. Under European Union law, the Isle of Man is currently free from any trade restrictions and free trade between the United Kingdom and the British crown dependency status is set to continue after Brexit. Thus, company incorporation Isle of Man is easy.
Eurofinanzza can assist with a full range of services for Offshore company formation in Isle of Man including registered office, bank account and ongoing compliance. For more information, please contact our team at +44 203 769 1690 or email enquiries@eurofinanzza.com.
Key Corporate Features
General
- Type of Company – Private Limited
- Type of Law – Common
- Shelf company availability – Yes
- Our time to establish a new company – 1-6 days
- Corporate Taxation – 0% – 10%
- Double Taxation Treaty Access – Only IOM
Share capital or equivalent
- Standard currency – GBP
- Permitted currencies – Any
- Minimum paid up – £1
- Usual authorised – 2,000
Directors
- Minimum number – Two
- Local required – No
- Publicly accessible records – Yes
- Location of meetings – Anywhere
Shareholders
- Minimum number – One
- Publicly accessible records – Yes
- Location of meetings – Anywhere
Company Secretary
- Required – Yes
Accounts
- Requirements to prepare – Yes
- Audit requirements – Yes, but with some exceptions
- Requirements to file accounts – Yes
- Publicly accessible accounts – No
Other
- Requirement to file annual return – Yes
- Change in domicile permitted – Yes
General Information
Infrastructure and economy
The economy is in its 26th year of growth the key sectors being financial services and professional services, banking generates around one quarter of the Island’s gross domestic product.
In the last few years new economic activities have been developed, such as aircraft registration and most significantly, e-gaming and other areas of e-commerce due to an infrastructure of world-class telecommunications and services which cater for the full range of modern corporate voice and data communication requirements. It implies that you can incorporate offshore in Isle of Man.
The Isle of Man has been awarded Triple “A” Ratings from Standard and Poor and Moody’s.
General Company Information
Type of Company for International Trade and Investment
Planning to set up company in Isle of Man? The Private Limited Company must have two directors who must be natural persons but may reside anywhere in the world.
Procedure to incorporate
Open offshore company in Isle of Man- Restrictions on Trading
Private Limited Companies are not permitted to:
- Undertake banking or insurance activities or any other activity that might suggest an association with same, without a license.
- Undertake investment business other than the investment of the company’s own assets without a license.
- Neither solicits funds from the public nor offer their shares or membership to the public without a license.
Restrictions on Trading
Shelf Companies available
Time to incorporate
Disclosure of beneficial ownership to Government Authorities
The identity of the beneficial owners of the Isle of Man Company may remain confidential if corporate shareholders are engaged to act as the shareholder on behalf of the ultimate beneficial owners. This confidentiality is maintained as long as the company and its ultimate beneficial owners are not involved in any criminal activity. So, you don’t want to worry about your company set up in Isle of Man.
Compliance
Authorised and issued share capital
Classes of shares permitted
Taxation
Companies that are in the business of banking, insurance or are connected with the business of Isle of Man property pay corporation tax at a rate of 10% and a withholding tax at the same rate is imposed if the dividend is paid to a non-resident individual or corporate body.
All Private Limited Companies pay an annual charge of £380.
VAT
Isle of Man Companies may be registered for VAT purposes and the VAT prefix will be “GB”, which is recognised in Europe. Foreign companies may be registered on the “F” register in the Isle of Man and then apply for VAT registration. You need to understand this point when planning to open company in Isle of Man.
Double taxation agreements
Financial statements required
Whilst there is no requirement to file audited financial statements with the authorities, it is important to note that a company is required to keep financial records, which reflects the financial position of a company. If accounting records are kept at a place outside the Isle of Man, they must be sent to the company’s registered office in the Isle of Man at no less than 6 months intervals.
Failure to maintain accounts or make them available for inspection at a company’s registered office is an offence punishable by imprisonment or a fine.
The Assessor of Income Tax reserves the right to call in the financial records for inspection.
What are you waiting for? Open offshore company in Isle of Man with proper understanding.
Directors
A 2006 Act Company requires only a single director; they may be of any nationality or residence. Bodies corporate may be appointed as directors. A body corporate is only eligible to act as a corporate director if it, or another body corporate of which it is a subsidiary, is:
- the holder of an appropriate license issued by the Isle of Man Financial Supervision Commission under the Financial Services Acts 2008; or
- permitted to act as a corporate director by regulations made pursuant to the Act.
Company Secretary
A company secretary is required and must be a natural person but may be of any nationality and reside anywhere in the world.
Shareholders
The minimum number of shareholders is one.
Register your Company today!
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