Sophisticated infrastructure and high respectability. No stamp duty, estate duty or capital gains tax.
Company Status
Corporate legislation source
The Companies Act 2006.
Company name
Prior approval of names required. Many sensitive words, e.g. International, Bank, Royal, Trust, Holdings, Group etc. Must end ‘Limited’ or ‘Public Limited Company’.
Time taken to incorporate
2 - 4 days
Are shelf companies available?
Usual minimum capital
Capital Duty
Minimum number of shareholders
One - but two are usual
Are bearer shares/shares of no par value possible?
Directors: minimum number/corporate: directors allowed/location
1/Yes, but must be a licensed CSP in the IOM. / Normally resident, but no restriction.
Secretary: mandatory/corporate Resident: secretary allowed/location
No/Yes/No restriction
Is there a requirement for a Registered Office/Registered Agent?
Yes/Yes, but must be licensed CSP in the IOM
Is any information required by the authorities prior to incorporation or prior to tax status being granted?
None, other than for Banking, Insurance and licensable authorities prior activities
What information is available on the public file?
Registered Office, Directors, Shareholders, Secretary, Memorandum and Articles, Annual Return, Mortgages & Charges (if any).
What documents must be kept at the Registered Office?
Register of Directors/Secretaries/Members/Mortgages & Charges/Accounts
Corporate books & seal
Both usually retained at the Registered Office, although the seal may be dispensed with, if desired.
Are annual accounts required/filed?
No, but reliable financial records must be kept to provide an accurate picture of the company's financial position at any time / not on public record but may need to be submitted the revenue authority on request.
Is an annual return required?
Where are meetings to be held?
No restriction
Annual fees payable to the government: Tax/Annual Return Filing Fee
0% maximum rate on profits/Stg£320 Unless involved in Isle of Man land or banking when 10%
Are there any exchange controls?
Double tax treaties
UK only