PRESENTATION
Isle of Man, located in the Irish Sea near the United Kingdom, is an excellent alternative to
incorporate an offshore company and enjoy numerous tax advantages.
Indeed, as a member of the European Union via Great Britain, the Isle of Man bases itsrelations with Europe on the principle of collaboration and thus facilitates exchanges carried outwith the rest of the countries of the Union thanks to obtaining an intra-community VAT number.
But the added value of the Isle of Man remains its great stability: It is a possession ofthe British Crown governing itself through TYNWALD. Its laws are inspired by theEnglish Common Law and the local currency is the Mangana pound.
Companies created on the Isle of Man offer all the guarantees of an overseas territoryBritish with all the added benefits that you can expect from an offshore company. What's more,
The OECD has sanctioned numerous information sharing agreements and considers the Isle of Mana "legal" jurisdiction and in full conformity with international law.
SOCIETY CREATION
The type of company most frequently used in the Isle of Man is the "International BusinessCompany "(IBC) due to the great flexibility and confidentiality it offers to directors / managers and
shareholders.
• There are no limitations regarding the number of shareholders, their residence or theirnationality. A single shareholder may be enough but it is necessary to have twomanagers / directors.
• There is no minimum capital requirement nor is it mandatory to "lock" it in a bank account.
• The companies are adapted to all types of legal activity and can be carried outactivities related to finance, online games, banking or insurance after obtaining thecorresponding license. A company can carry out several activities.
• Companies can be managed from another country. For example, all meetingsshareholder officers and managers can be held abroad.
TAXATION
Since April 2006, a new tax regulation has been introduced with the aim of favoring andoptimize the taxation of commercial companies in the Isle of Man.
This new measure is directed only to international trading companies that enjoyof a tax on profits of 0%.
However, to all companies whose activity is linked to the banking, insurance orproperty in Manx territory, a 10% corporate tax is levied.
• An offshore company created in the Isle of Man does not pay taxes or fees on the
profits or dividends or capital gains obtained. You must simply paya fixed annual fee of a few hundred euros.
• Likewise, offshore companies are not obliged to maintain or present theiraccounting.
• There is no right of succession on the transfer of shares, in the event ofdeath of one of the shareholders of the non-resident company.
• Discretion: Shareholders who create a company are registered in the local registry. It canhowever, establish a "nominated" front man system, both for shareholders andfor the manager. Isle of Man applies bank secrecy.