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FAQ on Offshore Company Formation in the Isle of Man

FAQ on Offshore Company Formation in the Isle of Man

Our team of Isle of Man company formation experts answers some of the most frequently asked questions about opening an offshore business in this jurisdiction.

1.What are the location advantages?

The Island’s close proximity to the United Kingdom is an important advantage to investors. Another important advantage is the very advantageous taxation regime.

2.What types of companies are available for incorporation?

The limited liability company, the public company and the company limited by shares are examples of types of companies in the Isle of Man.

3.How fast can you open a company?

The usual company incorporation time is 3 to 5 days, after the company name approval.

4.Are there any nationality restrictions?

No, there are not. What’s more, the company can be incorporated with a single shareholder.

Moving to the Isle of Man is not mandatory.

5.Are there any special considerations for the Isle of Man company?

The Isle of Man company must have a registered office on the Island.

6.What are the documents needed to open a company?

Each company must have its Articles of Association drawn up as well as the Resolution to appoint directors.

7.What are some of the fees for opening an Isle of Man company?

The usual fees for opening a company will include the Government fees, those for appointing a registered agent, and other fees as needed.

8.What are the taxes for offshore companies in the Isle of Man?

Registered companies in the Isle of Man do not have to pay taxed on trading income derived from this location. However, a ten percent rate is applicable to certain types of activities such as those related to banking. One of our Isle of Man company registration agents can give you complete details.

9.What are the accounting requirements in the Isle of Man?

Isle of Man offshore companies are required to file an annual tax return. However, there are no requirements to follow specific accounting and reporting requirements.

10.Can I get specialized assistance?

Yes. Our team of agents who specialize in offshore company formation in the Isle of Man can help you throughout the company formation stages. Contact us for detailed information about our services.