Registration of Business in the Isle of Man
How to open a business in the Isle of Man?
The Isle of Man is located in the Irish Sea, between Great Britain and Ireland, being quite small property of the Queen of Great Britain. A small state is not part of the English state, having an autonomous legal system. The system is different, possessing similar features with the continental one. The feature of the island is the isolated status of an associate member of the European Union, which provides it with some legislative freedom that attracts foreign investors.
Business in the Isle of Man: ITS basic specialization and principles
Local legislation, compared to other island states, is not simple, guaranteeing Man’s jurisdiction the reputation of an exclusive global financial centre. Laws are adopted independently and require approval of the Queen of Great Britain.
The main specialization of small autonomous education is registration of sea and air transport. There is an essential distinctive feature: marine register is part of English register; the air register is completely independent.
The experts from the international research centre, presenting the annual results of the GFC INDEX research, noted that the island is in top-five offshores with more favourable financial attractiveness. This index made it possible to compare it with Dubai.
The main features characterizing business in the Isle of Man are the following:
- Application of high standards.
- Providing high quality and service efficiency.
- Simple registration procedure.
- Exclusion of bureaucracy.
- Development of profile infrastructure.
- Lack of currency control.
- Confidentiality.
Business in the Isle of Man: Types of companies
Due to the principle of protecting foreign investment, business in the Isle of Man develops and is assured by a wise government policy. Taking into account the tasks set, the following types of companies are created:
- Limited Liability Company.
- Joint-stock company with limited liability.
- Joint stock company with the liability of the participants within the limits of the shares owned by them and within the limits guaranteed by them.
- Joint-stock company with unlimited liability with possibility of issue of securities.
- Joint-stock company with unlimited liability and not issuing securities.
- Trust company.
- Fund.
Entrepreneurs owning their own business on the island enjoy low-tax jurisdiction.
Registration of Business in the Isle of Man
Required business registration in the Isle of Man and features:
- Director is any natural person, resident / non resident,
- Maximum tax rate is established exclusively with respect to the trusts,
- Citizenship of the founder does not play a role.
- There is no tax on capital gains.
- The founders are at least 1 shareholder and 1 director.
- Some terms are excluded from the name of the company, for example: CROWN, EMPIRE, ROYAL and others with insulting shades.
- Registered shares are issued.
- Minimum issued share capital is possible in the form of one share.
- Information about real owners is not spread.
Registration of business in the Isle of Man requires the appointment of a registered agent, his activity is necessarily licensed.
Important information: independent rating agencies confirm the «AAA» level of the island.
Detailed consultation of skilled professionals greatly reduces the amount of financial expenditures aimed at organizing own business in the Isle of Man. The benefits are obvious. We guarantee rapidity and quality.
Please, select organizational and legal form of the company You are interested in:
