+44 203 769 1690

Set your business in Isle of Man

An excellent European option for international trade.

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VAT in the
Isle of Man
One of the many advantages is that Isle of Man is part of the UK for VAT purposes.
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Isle of Man
Cryptocurrency
IOM has enacted legislation for businesses dealing with cryptocurrencies.
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Economic Substance Requirements

Companies conducting relevant activities are required to have economic substance.

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Why register your company with us?

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.

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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.

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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.

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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
abc banking mauritius
pacific private bank vanuatu
hsbc uk
capital security bank cook islands
bank of cyprus
dbs singapore

How to incorporate your business company in Isle of Man

Company Formation Services
The Isle of Man is a prime location to operate a business offering 0% corporate tax, no withholding taxes or taxes on trading or investment income. Additionally, Isle of Man companies are not required to register for VAT until the registration threshold is not met; VAT taxable turnover more than £85,000 in the next 30-day period.

An Isle of Man company formation is an attractive option for international entrepreneurs seeking ways to reduce taxes and overhead expenses.

Key benefits include:

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Only one director is required, and he/she does not need to be resident.
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A single shareholder is required.
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As little as one share with no minimum value.
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.

Eurofinanzza can assist with a full range of Isle of Man company formation services including registered office, bank account and ongoing compliance. For more information, please contact our team on +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
The Isle of Man, situated in the centre of the British Isles, is an internally self-governing dependent territory of the British Crown which is not and never has been part of the IOM. It is, however, part of the British Isles. Tynwald, the Island’s 1,000-year-old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. External issues, such as foreign representation and defence, are administered on the Island’s behalf by the IOM Government and the Island makes an annual payment for these services.
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.

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

The Private Limited Company must have two directors who must be natural persons but may reside anywhere in the world.

Procedure to incorporate

Submission of Memorandum and Articles of Association, together with “Form I” nominating the first directors and secretary and advise of the situation of the Registered Office and the form giving name approval.

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

Companies must maintain a registered office in the Isle of Man.

Shelf Companies available

Yes.

Time to incorporate

One to five days, subject to name approval.

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.
Compliance

Authorised and issued share capital

Private Limited Companies have a minimum authorised share capital of £2000 or its currency equivalent, this being the maximum for the minimum capital duty payable upon incorporation. The minimum issued capital is one share of the par value.

Classes of shares permitted

Private limited Companies may have registered shares, preference shares, redeemable shares and shares with or without voting rights.

Taxation

Private Limited Companies normally pay income tax at 0% and there is no withholding tax on payments of dividends to shareholders.

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.

Double taxation agreements

Apart from a limited treaty with the IOM, the Isle of Man is not party to any double tax treaties.

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.

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.

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