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Company Incorporation
Isle of Man
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Prestigious Jurisdiction, specially suitable for those who need
VAT
registration to trade with EU. The
Isle of Man is an established international business and finance centre, with a
secure base built on political stability, low taxation and a firmly established
fiscal and regulatory environment independent of the UK.
Established under the Limited Liability Company (LLC) Act 1996 The Isle of Man adopted the Wyoming legislation as its model and enacted the Limited Liability Companies Act 1996. A LLC is a hybrid structure composing attributes of both a company and a partnership. Further specific information is available on request. Company Tax Previously the Isle of Man operated a company income tax system that permitted non-resident tax status, tax exemption and international tax status. To comply with commitments made to the EU and the OECD the Isle of Man adopted a strategy to change its corporate tax system and to remove these, so called “harmful tax practices”. From the 6 April 2006, the general rate of corporate income tax in the Isle of Man is 0%. A 10% tax rate still applies in very limited circumstances, for companies engaged in banking business and IOM property transactions. An annual corporate charge of £250 is payable by every company. Distributions made to non-residents of the Isle of Man from companies taxed at 0% are subject to withholding tax at the rate of 0%. VAT Registration and EU Trading Although the Isle of Man is not a member of the EU, it has the distinct advantage of being part of the customs territory of the EU under Protocol 3. A company can register for VAT in the Isle of Man if it maintains a place of business in the Isle of Man. It is therefore possible for Isle of Man and foreign companies to make advantage of the Isle of Man 0% corporate tax rate whilst obtaining the benefits of VAT registration for trade in the EU. ISLE OF MAN INCORPORATION
Notes: This Quotation excludes any VAT tax that may be applicable (17.5%) Note: all professional nominee directors in the Isle of Man must be checked by the Government Financial Supervision Commission before they are permitted to appointment to a client company. The Government checks the police record, professional qualifications, knowledge of company law, work experience and financial standing. This is in compliance with the Corporate Service Providers Act 2000. Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions. Please go to our Uses of offshore Companies Page where you will find interesting information on the benefits of using offshore companies and trusts for business and personal use, links to information on other locations and details of our products and services.
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