Isle of Man flag

Isle of Man


The Isle of Man is a British Crown Dependency. It is not part of the European Union and the European Economic Area. However, it trades with EU countries in accordance with EU rules regarding customs duties, excise duties and VAT. Therefore, setting up a company in Douglas or another town on the Isle of Man allows access to the benefits of the European internal market. Thanks to progressive legislation, the jurisdiction has a positive reputation. Registering a company in the Isle of Man will allow the entrepreneur to engage in various activities, including real estate ownership and asset management. Due to the existence of agreements for the exchange of information and avoidance of double taxation, the jurisdiction is on the list of permitted by the OECD.

Advantages of registering a company

  • The possibility of duty-free trade with the United Kingdom and EU countries;
  • Good reputation of the jurisdiction;
  • There is no direct taxation of most companies in the Isle of Man;
  • The possibility of establishing a company with one shareholder and any size of share capital;
  • Availability of qualified specialists;
  • Low tax rates;
  • English-speaking environment.

    • Main forms of legal presence and doing business

  • Limited company liability;
  • Foreign companies;
  • Fund;
  • Trust.

    • Most foreign entrepreneurs choose a limited liability company to open a company in the Isle of Man. This legal form gives shareholders maximum flexibility in choosing their field of activity and limits financial risks. However, for certain types of businesses, other types of companies may be considered.

    Registration Procedure

  • Select and reserve a company name through the Registrar of Companies;
  • Register a company in the Isle of Man;
  • Open a corporate bank account;
  • Obtain the necessary permits and licenses.
  • Legislation and Regulatory Environment

    • Isle of Man companies can be formed and regulated under two separate laws:

    The Companies Act 1931 (often used to form a local business) requires the appointment of two directors to manage the company, who can be non-residents, but does not require the presence of a government-licensed agent. A company secretary is also required, who can act as a director and be non-resident. Companies must hold annual meetings and prepare annual financial statements.

    The Companies Act 2006 allows for the formation of a company with one director, who can be a legal person, but requires the appointment of a licensed agent. There is no requirement for annual meetings or the preparation of annual financial statements. You must have a local office to open a company in the Isle of Man.

    The Companies Act allows for the redomicilation of an existing legal person from another jurisdiction, which allows such a transfer. In this case, the company continues to exist, retaining its assets and liabilities. After the transfer, its activities will be governed by the laws of the Isle of Man.

  • The Beneficial Owners Act requires investors who own more than 25% of the company's shares to provide the necessary details to the registrar for storage in the Isle of Man beneficial ownership database.

    • Tax system

  • Corporate tax - 0% (for most companies), 10% (for banking and retail), 20% (for real estate transactions);
  • PIT - 20%;
  • VAT - 20%;
  • Dividend tax - 0%;
  • Capital gains tax - 0%.
  • There is also no inheritance tax on the island, which makes registering a company a tax-efficient way to own real estate.

    • All companies must file tax returns for the reporting period, regardless of the rate at which they are taxed. Companies resident in the Isle of Man are taxed on their worldwide income. Foreign companies doing business on the island only pay taxes on income earned on its territory.

    How our experts can help


    Let's say you are evaluating the formation or purchase of a company in the Isle of Man. In this case, the lawyers of "Smart Startup UK" are ready to put this option into practice by providing legal support for the following aspects of business registration in the Isle of Man:

  • Request and collect all the data and documents for opening a business in the Isle of Man;
  • Choose the name and in the interests of the client, all negotiations are conducted by us with local authorities and banks;
  • We arrange the legal address, accounts and employees, as well as all the necessary documents for applying for the future company;
  • We provide comprehensive legal support for the further functioning of the new legal entity in the Isle of Man.


    • The portfolio of specialists of "Smart Startup UK" is formed by more than 8,000 cases in the field of registration and support of international business. Our lawyers will apply this experience to the goals of your project.


    CREATE A COMPANY


  • Company name check and reservation
  • Company registration, including state fees
  • Obtaining an administrative identification number
  • Registering the company with state structures
  • Writing a company charter
  • A set of statutory documents of the company in electronic form
  • Bank contribution for the authorized capital of the company
  • Obtaining a foreign investment permit
  • Opening an account in: Isle of Man Bank, Conister Bank Limited
  • Opening a personal bank account
  • Apostille and translated corporate documents
  • Obtaining a residence permit
  • Free consultation
  • Assistance with online trading and opening an account at viva.com for online trading
  • Accounting services - 12 months
  • Accounting services
  • Annual renewal 2500 Euro (paid from the second year)

    • *Within 35 days


    IMPORTANT! We can provide you with the initial share capital (if the amount is over 5000 Euro) for registering your company in the form of a loan from our company. Please, if you are interested, make an inquiry to us.


    What is the procedure!

    1. You submit an application for company registration through the application form.

    2. We check whether the company name for registration is free and eligible for registration.

    3. Choose a bank that meets your company's needs from a list of Smart Startup UK partner banks.

    4. We send you a proforma invoice for payment to be paid to our bank account + the amount for the initial capital of your company.

    5. You receive all the necessary company documents for reconciliation.

    6. You receive details of your newly opened bank account.

    7. Within the specified period (for the Isle of Man it is 35 days) you receive all the services included in the package.

    8. You can manage all the services included in the package through our platform, as our team works 24/7 and you can get help from us within up to 30 minutes. We have built an internal ticket system for our customers, through which we process each of your support requests.


    All services such as management, accounting, bank account opening requests, licensing, tax return filing, tax payment and others are carried out through your account on our platform, making it easier to manage your business!