Isle of Man

Company FormationIsle of Man

The Isle of Man is a dependency of the British Crown. It is not part of the European Union and the European Economic Area. Still, it trades with EU countries under the rules of the Union regarding customs duties, excise taxes, and VAT.

Therefore, setting up a company in Douglas or any other city in the Isle of Man allows access to the benefits of the internal European market. Due to the progressive legislation, the jurisdiction has a positive reputation.

Registering a firm in the Isle of Man will allow the entrepreneur to engage in various activities, including owning real estate and managing assets. Due to the existence of information exchange and double taxation agreements, the jurisdiction is on the allowlist of the OECD.

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Why Registera Company in Isle of Man?

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Duty-free

The possibility of duty-free trade with the UK and EU countries.

Reputation

A good reputation of the jurisdiction.

Taxation

There is no direct taxation for most companies in the Isle of Man.

Unrestricted

Possibility to establish a company with one shareholder and any size of share capital.

Specialists

Availability of qualified specialists

Low tax rates

English-speaking environment

Tax Systemin Isle of Man

There is no inheritance tax on the island, which makes registering a company a tax-efficient way to own real estate.

All companies must file tax returns for the reporting period, regardless of the rate at which they are taxed. The Isle of Man resident companies are taxed on their worldwide income. Non-resident companies doing business on the island pay taxes only on income earned on its territory.

Corporate tax

0% (for most companies),

10% (for banking and retail trade),

20% (for real estate transactions);

Personal income tax rate

20%

Value-added tax

20%

Dividend tax

0%

Tax on capital gains

0%

Steps for Registering a Company in Isle of Man

Choose and reserve a company name through the Registry of Companies.

Register a company in the Isle of Man.

Open a corporate bank account.

Obtain the necessary permits and licenses.

Apply for ourIsle of Man Company FormationServices

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