Benefits to Set-up your Business
In the Isle of Man
Advantages of Isle of Man
The Isle of Man is a jurisdiction located geographically in the British Isles but with a separate government and identity. The island has a customs agreement with the UK which facilitates trade but it is legally separate from the UK and from the European Union. This gives some definite advantages to a company formed in the Isle of Man when it comes to trading in other jurisdictions or holding investments.
The Isle of Man is a low tax jurisdiction that has azero-corporation tax rate except for banks which pay tax at 10% on their profits.
There is no withholding tax on dividends paid to shareholders resident outside the island and no withholding tax is imposed on any other payment to people overseas.
There is no capital gains tax, stamp duty or inheritance tax.
IOM Holding and Investment Company
Commercial and Intellectual Property
A company incorporated in the Isle of Man can be highly advantageous for holding investment portfolios including commercial property. The Island has signed the Paris Convention on Patents and Trademarks and an Isle of Man company is therefore also suitable for holding intellectual property.
Lately and due to the recent legislation, IOM is an excellent jurisdiction for those wishing to get engaged in Cryptocurrency Business.
The IOM and UK
Isle of Man include a well-established legal system, a sophisticated banking system, political stability and an absence of any exchange controls or similar limitations on financial transactions.
The Isle of Man has a customs and excise agreement with the UK under which the two territories are effectively treated as one territory for customs duties, most excise duties and value added tax.
The IOM and EU trade
If a company incorporated in the Isle of Man is to trade with the UK or countries of the European Union it will therefore need to be registered for VAT, subject to reaching the registration threshold.
Should you have any question or
Matter you would like to discuss with us
Our multi-lingual team of business advisors is happy to assist you with all upcoming questions and issues in relation to your company.
You may call or email us and we will be happy to assist you in a fast and efficient manner.
You can also come visit us at one of our offices to discuss issues face to face if you prefer. Just arrange an appointment and we will be happy to meet with you.