Company Formation in the Isle of Man

Roadmap

How long does it take to register a Company in Isle of Man?

• 2-5 working days
• Can be done remotely in 1 week

What are the steps to register a company in Isle of Man?

The registration process of a company in Company Formation in Isle of Man is very simple. The experts of LegalBison will assist you throughout every step of it:

1. Initial consultation and agreement
2. Payment of the full invoice
3. [IF REMOTELY]: Notarization of POA by client
4. Preparation of registration documents
5. Document signed at the notary
6. Official register validity: immediately

Taxes

How high are the corporate income tax in Isle of Man?

The corporate income tax rate is 0% for both resident and non-resident companies.

• A rate of 10% applies to banking and local retail companies. A rate of 20% applies to real estate income from the Isle of Man

What Double-tax treaties has Isle of Man?

Many countries have bilateral conventions to avoid double taxation and prevent fiscal evasion Australia, Bahrain, Belgium, Denmark, Estonia, Faroe Islands, Finland, Greenland, Guernsey, Iceland, Ireland, Jersey, Luxembourg, Malta, New Zealand, Norway, Poland, Qatar, Seychelles, Singapore, Slovenia, Sweden, United Kingdom Status : end of 2020

Decide first

1. Do you want to buy a ready-made company or start a new one?
2. Do you want your name to be hidden in the registry?
3. Does the Isle of Man tax treaties include countries you are doing business with?

Documents to provide for company registration in Isle of Man

• Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
• A Power of Attorney (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in Isle of Man

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your companies’ activity

Remote incorporation

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
• A Power of Attorney (POA) from (all) partners is needed
• The POA is sent to you by us based on the services you want
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
• The Isle of Man being a territory under Great Britain sovereignty, it is therefore part of the Hague Convention of the Apostille

Accounting and auditing

• Companies registered in Isle of Man are liable to produce an annual return
• Every registered companies has 1 month after the conclusion of their accounting period to file their return to the Isle of Man Companies Registry
• Failure to do so may result in penalties up to the striking off of the company

Residential requirements

What are the residential requirements in Isle of Man?

• An Isle of Man company must have a registered office on the Isle of Man and anyone providing a registered office by way of business should be regulated by the Financial Services Authority ('FSA')
• There are no residency obligation for company directors. Nominee directors are allowed and available in the Isle of Man

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.