Company Formation Isle of Man

New Manx Vehicle

Isle of Man
New Manx Vehicle

The Isle of Man New Manx Vehicle (“NMV”) was introduced in 2006 to provide a structure that was similar in many ways to companies being offered in other jurisdictions.

The NMV introduced a simpler and more streamlined company for ease of use with both international business and wealth management. Attractive characteristics of the NMV include:

Minimum of One Director (and this may be a Corporate Director)
Simpler filing requirements
Relaxed accounting requirements for the distribution of dividends

This allows the Isle of Man NMV a greater flexibility for International trade and allows for a simple accounting test for the distribution of profits to the owners of the company.

The benefits of an Isle of Man NMV include:

Zero Corporation Tax – profits on a company are taxed at 0% (banking and insurance business are taxed at 10%)
Zero Capital Gains Tax – on the sale of the holdings no tax will be paid on the capital gain.
Zero Inheritance tax – property held within an Isle of Man company will not pay any inheritance tax in the estate of the ultimate owner.
Zero Stamp duty – in certain cases stamp duties on the transfer of the property/holdings can also be mitigated.
VAT registration – an Isle of Man company can register for VAT for EU trade and sales.

The identity of the beneficial owner may remain confidential through the use of a corporate shareholder which holds the shares under declaration of Trust for the beneficial owner. There is no withholding tax on payment of dividends to shareholders.

The Isle of Man has a first class reputation as a well regulated international business and finance centre and is easily accessible from London and Dublin.

Isle of Man Limited Company (2006 Act) – Company requirements

General Company Information

Type of Law – Common
Type of Entity  – Limited
Time of Incorporate – 2 days
Corporate Taxation  – 0% (Banking & Insurance companies – 10%)
Minimum Government Fees – £360


Minimum number – One (and can be Corporate)
Local Directors required? – No
Public records – Yes
Location of Meetings – Worldwide

Company Secretary

Company Secretary required? – No

Share Capital

The act removes the requirement for authorised share capital
The NMV has a very flexible regime for shares

Annual Accounts

Requirement to prepare – Yes
Requirement to audit No – some exceptions
Requirement to file No – save in relation to taxation
Public access – No


Minimum number – One
Location of meetings – Worldwide
Publicly accessible records – Optional

General Information

Transfer of Domicile permitted – Yes
Annual Return required – Yes

For further information, please contact one of our agents and we would be pleased to discuss your requirements further.

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Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your application.

You may call or email us, and we will be happy to assist you in a fast and efficient manner.

You can also come and visit our offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.

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