Isle of Man Company Formation


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ENGAGEMENT COSTS

Year 1 incorporation US$6,500*

Year 2 incorporation US$3,400*

Nominee director
US$5,400**

Company de-registration
US$2,450

* Depending on corporate structure and professional services required by our clients.

**Excludes US$1,100 refundable deposit.

Isle of Man company formation is an appealing way for international business people to legitimately minimise their international tax liabilities. The Isle of Man is a secure and stable offshore jurisdiction, with strong confidentiality laws and an attractive tax regime.

The Isle of Man has a statutory body called the Financial Supervision Commission (FSC). The FSC is an independent body whose functions include: i) the regulation and supervision of persons undertaking regulated activities, which includes company incorporation; ii) management of the regulatory regime for the regulated activities; and iii) oversight of persons responsible for management, or affairs, of commercial entities. Further information can be found on the Isle of Man FSC website.

As an international company incorporation specialist, Healy Consultants utilizes international experience along with a broad network of business associates to assist entrepreneurs fulfill their Isle of Man objectives.

Advantages of Isle of Man Company Registration

Isle of Man company formation is a reputable solution. The island is a highly regarded jurisdiction due to stringent compliance laws.

If properly structured, Isle of Man company formation is an excellent way to book international profits without paying corporation tax.

If the Isle Of Man company being incorporated is not a bank or insurance company, there is a zero corporate tax rate. Bank and insurance companies are taxed at 10%. Isle of Man has no capital gains tax and No withholding tax is paid on dividends.

Under the Isle of Man 2006 Company Formation Act, legislation requires a company to have a minimum of one director who does not need to be a resident of the Isle of Man. The director may be a corporate body. Only a company limited by shares and by guarantee shall require at least one shareholder.

There are no exchange controls or other financial restraints imposed on an Isle of Man company.

There are no authorised or issued share capital requirements for Isle of Man company formation.

Many investors choose Isle of Man company registration as an appropriate vehicle to tap opportunities in mainland Europe.

Healy Consultants can assist with opening of international corporate bank accounts to support Isle of Man company formation. Our Firm works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.

Disadvantages of Isle of Man Company Registration

Following Isle of Man company formation, annual accounts must be submitted to the Isle of Man government's Income Tax Division.

Isle of Man company registration requires a registered office to be maintained on the island.

A professionally qualified local secretary is required.

All Isle Of Man companies require a registered agent rather than a company secretary. The registered agent must hold an appropriate license issued by the Isle of Man Financial Supervision Commission. The purpose of the registered agent is to have someone in the Isle Of Man to administer the company.

Considerations for Offshore Company Formation

Offshore companies can be an excellent, tax efficient vehicle for entrepreneurs to conduct their international business. When selecting an offshore jurisdiction, it is important to evaluate variables, such as: i) its international reputation for conducting business; ii) legalities that govern investor activity; iii) the stability of its economy; and iv) the political stability of the market.

While offshore corporations can have the significant advantage of legitimately minimising tax obligations, there can also be the disadvantage of carrying the tax haven stigma associated with some jurisdictions. More information on Healy Consultants offshore company services can be found on the following pages:

Offshore company incorporation

ii)

Offshore Company registration

iii)

Offshore company set up

iv)

Offshore Tax Planning

Investing Offshore

Did you know about Isle of Man?


1.	The Isle of Man is is a self-governing British Crown Dependency located in the Irish Sea that is not part of the United Kingdom or the European Union.

2.	The Isle of Man's national symbol is the Triskelion which appears on the country's flag. The three bent legs clad in armour relate directly to the island's motto "Quocunque Jeceris Stabit", which means "whichever way you throw it, it will stand."

3.	The isle of Man is famous the world over for it's motorcycle T.T races, traditionally held every year in the last week in May. T.T stands for Tourist Trophy, and it's first ever tournament was in 1907, when the contest was held on a 15 mile ( 21km ) road course around the island. Today the race is held over a 37 mile ( 60 km ) mountain road course, which consists of 200 bends at an altitude of 1,300 feet ( 396m), situated at the islands highest point at Snaefell.

4.	The island has it's own indiginous breed of sheep, the Loaghtan ( ovis aries ). It is classified as a Rare Breed, and is recognised for it's unusual brown coloured coat and for having six horns, which grow both straight and curly.

5.	The island is a haven of Celtic architecture, with many ancient symbols of Celtic religions and ancient castles and churches.

6.	The island's industries are centred around offshore banking, tourism and film making, being one of the most regular film sets for the British film industry.

7.	The official languages of the Isle of Man are English and Manx Gaelic which is closely related to Scottish Gaelic and Irish languages.

Contact Us

For additional information on Isle of Man company formation, contact email@healyconsultants.com or telephone us at (+65) 6735 0120.

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