Isle of Man Company Formation @ Healy Consultants

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 a popular way for international business people to legitimately minimise their international tax liabilities. The Isle of Man is one of the most secure and stable offshore jurisdictions in the world, with strong confidentiality laws and an attractive tax regime. The following information will help you determine whether Isle of Man company formation is the optimum solution for your business:

Advantages of Isle of Man Company Formation

With proper structuring, Isle of Man company formation is an ideal way to book international profits without paying corporation tax.

To qualify as a 'tax exempt' company, an Isle of Man company is required to pay an annual fee of 430 Pounds Sterling (US$750) to the Isle of Man government. Upon payment, the company's international income (i.e. outside the Isle of Man) is legally tax-free.

Isle of Man company formation is a reputable solution. The island is a highly regarded jurisdiction due to stringent compliance laws. The UK is positively ranked as the 17th least corrupt country in the 2009 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians.

Isle of Man company formation requires a minimum of one shareholder with corporate shareholders permitted.

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

Isle of Man company formation is quick and easy.

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

It is easy to open global corporate bank accounts to support Isle of Man company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.

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

Disadvantages of Isle of Man Company Formation

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

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

A minimum of two directors are required for Isle of Man company formation, one of whom must be an Isle of Man resident. Corporate directors are not permitted.

A professionally qualified local secretary is required.

Following Isle of Man company formation, directors' and shareholders' details are available for public viewing.

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 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

Contact Us

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

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