Isle of Man
The Isle of Man as an international financial centre offers a variety of legal entities that may be used in international tax planning and wealth structuring arrangements. Local legislation allows for the establishment of private limited companies, hybrid companies, limited liability companies, partnerships and trusts.
A key benefit of using an Isle of Man arrangement is a 0% rate on income tax (except banking, insurance and businesses connected to Isle of Man property, where the tax rate is still low at 10%) and the ability to register for VAT with the prefix “GB”.
Other attractive features of the Isle of Man include its political stability and, interestingly, the jurisdiction’s close ties with the UK. Together these benefits have helped to contribute to clients’ appetite for an Isle of Man company as a vehicle of choice when seeking a listing on the Alternative Investment Market (AIM).
A readily available supply of local Isle of Man professional firms and businesses in the form of corporate and trust service providers, local Manx Advocates, banks, investment advisors and fund managers provides an attractive investment environment and business culture in which international investments may flourish with economic and financial confidence. The provision of services involving the Isle of Man’s array of legal entities and other commercial arrangements in wealth structuring are passed on to, and provided by, local Isle of Man licensed and regulated fiduciary service providers.
