The Isle of Man, situated in the center of the British Isles, is an internally self-governing dependent territory of the British Crown which is not and never has been part of the United Kingdom. It is however, part of the British Isles. Tynwald, the Island's 1,000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. External issues, such as foreign representation and defense, are administered on the Island's behalf by the UK Government and the Island makes an annual payment for these services. As a British Crown dependency, the ultimate responsibility for the Island's good government is vested in the Crown but by long standing convention, the UK Government does not legislate for the Island except with the specific consent of the Island's Government.
Key Corporate Features & Requirements
General
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Type of entity: Limited Liability
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Type of law: Common
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Shelf Companies available: Yes
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Time to establish a new company: 5 days
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Corporate taxation: Fiscally Transparent
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Double taxation treaty access: No
Corporate requirements Directors / Members
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Minimum number: Normally 2
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Local required: No
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Publicly accessible records: Yes
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Location of meetings: Anywhere
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Required: Yes
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Local Required: Yes
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Company Secretary required: Yes, local
Accounts
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Requirement to prepare: Yes
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Audit Requirements: No
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Requirement to file accounts: No, but must be available for inspection in the Isle of Man
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Publicly accessible accounts: No
Other
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Requirement to file annual return: Yes
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Change in domicile permitted: Yes
Are you interested in setting up a company in Isle of Man? Then contact us by filling in the form below.