:
registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
2175.00 USD 1650.00 USD 2 0.00% 1.00 No

Company registration on the Isle of Man

ostrov_men.jpgThe Isle of Man is situated in Western Europe between the UK and Ireland, in the Irish Sea. The area of the isle equals to 572 km2, and the population is approximately 75 thousand people.

Douglas is the capital of the isle. English is the official language.

The pound sterling is the monetary unit of the island.

According to its state structure, Man is a parliamentary democracy.

The basis of the legal system is English common law. In addition, separate laws and legislative acts of the isle of Man also apply. The state is a party to the Hague Convention.

The most profitable items of the isle's budget are the following sectors of the economy, namely: banking services, manufacturing industry and tourism.

Flexible tax policy allowed the isle of Man to become jurisdiction in which many entrepreneurs seek to register offshore company.

Business registration on the Isle of Man: Advantages

- simplicity of the procedure of obtaining tax benefits;

- confidentiality for business;

- there is no currency control;

- the status of the exempt company;

- income tax, tax on funds obtained outside the jurisdiction, and tax on dividends are not levied;

- there is no need in submitting annual report;

- it is possible to appoint representatives of directors without filing of notification concerned to the authorities of the isle;

- the company's office should not necessarily be located on the island.

The legislative framework of the Isle of Man

  • Law on Limited Liability Companies (1996);
  • Law on Companies (1931, as amended in 2004, 2006);
  • Law on Partnerships (1909), etc.

When is it profitable to register or buy company on the Isle of Man?

The procedure makes sense if you intend to be engaged in trade or investment activities within the European Union.

Company registration on the Isle of Man: Peculiarities

  • The citizenship of the founders does not matter;
  • The company should consist of at least one shareholder and one director;
  • The residency of the director does not matter;
  • The company name on the Isle of Man should be unique. Such words as Bank, Insurance, Chartered, Trust can not be included in the name;
  • Information about beneficial owners (real owners) is not published;
  • Minimum authorized capital is not determined. It can be contributed in any currency;
  • The minimum issued share capital shall consist in one share with or without par value;
  • Only registered shares are allowed to be issued.

Bookkeeping on the Isle of Man

The company should not submit tax and financial statements.

Taxes on the Isle of Man

Non-resident (offshore) companies on the Isle of Man are completely exempt from taxes. This provision applies to all types of income.

It is now possible to register company on the Isle of Man quickly. Registration of company or exempt company on the Isle of Man can mark the beginning of your successful business at the international level. Registration of companies, offshore companies in different countries of the world is one of the main directions of our activity.

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General information
Square572.00
Population85 421.00
CapitalDouglas
Unemployment7.20
State polityParliamentary democracy
Telephone code441 624
locationWestern Europe
ClimateTemperate; cool summers and mild winters; overcast about a third of the time; avg. maximum temperature (August) +22°; avg. minimum temperature (February) +5°
Ethnic groupsManx (Norse-Celtic descent), Britons
National currencyIsle of Man pound
USD exchange rate0.63
GDP per capita36
Official languageEnglish, Manx Gaelic
Credit ratingAAA
The judiciaryThe highest court of the island - two higher judge (deemster)
Executive authorityHead of government: Chief Minister. Government: The Council of Ministers
Legislative authoritiesbicameral parliament - Tynwald: Legislative Council (11 seats), the House of Keys (24 seats)
Corporate information
Opportunity to purchase ready-made companiesНет
Legal systemCommon Law
The use of the Cyrillic alphabet in the nameНет
Local registered officeДа
Organizational and Legal FormsPRIVATE COMPANY LIMITED BY SHARES COMPANY LIMITED BY GUARANTEE EXEMPT PRIVATE COMPANY (не регистрируются с 2006) PUBLIC COMPANY LIMITED BY SHARES LIMITED LIABILITY COMPANY INTERNATIONAL COMPANY(не регистрируются с 2006) Branch NON RESIDENT COMPANY (не регистрируются с 2006) GENERAL PARTNERSHIP LIMITED PARTNERSHIP INTERNATIONAL LIMITED PARTNERSHIP Sole Proprietorship TRUSTS
Indication of BPA in the nameLimited or Ltd
Local registered agentДа
Shares and share capital
Standard currencyIsle of Man pound
Information about the beneficiary is disclosed2,000
The minimum amount of paid-in capital, nat. currency1
The minimum amount of the issued capital1
Bearer sharesНет
The usual size of the authorized capital2,000
Possibility to issue shares without par valueНет
Taxation
VATНет
Basic corporate tax rate0.00%
Capital gains taxНет
Currency controlНет
Corporate tax rates detailsStandard income tax rate for companies is 0%. Income received by licensed banks from deposit-taking business and Isle of Man retail profits when annual taxable profit exceeds GBP 500,000 taxed at 10% rate. Profits from Isle of Man land and property taxed at 20% rate.
Stamp dutyНет
Director and Secretary
Minimum number of directors2
The requirement for residency directorsНет
Director of legal entities are allowedНет
The data reveals to the local agentДа
Data field to the public registryДа
The requirement for the presence of the SecretaryДа
Requirement to the residense of the SecretaryНет
Requirements to qualification of the SecretaryНет
Legal entity as the SecretaryНет
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerДа
Shareholders residency requirementНет
Information about the beneficiary is disclosedНет
Information may be disclosed to the local agentДа
Shareholders-legal entities are acceptableДа
Reporting
The requirement for filing reportsНет
Open access to reportsНет
Statutory auditНет
The requirement for filing Annual ReturnДа
Open access to the Annual ReturnНет
The requirement for reportsНет
Treaty on avoidance of double taxation (States which signed)12
Membership in the OECDНет
Is it offshore according to Russian legislationДа
Trademark Registration
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