Establishing a company in the Isle of Man presents a valuable opportunity for entrepreneurs, investors, and businesses. The island boasts a well-regulated business environment supported by financial incentives and government policies designed to promote economic development. As a self-governing Crown dependency, the Isle of Man uniquely combines autonomy with strong ties to the UK, offering businesses the benefits of operating in a secure and reputable jurisdiction.

Strategically positioned between the United Kingdom and Ireland, the Isle of Man is an ideal base for companies seeking to expand their operations while taking advantage of its competitive features. The local government actively supports business growth by providing various forms of assistance and resources, making the Isle of Man a forward-thinking international hub for business establishment and expansion.

Manimama ensures a seamless company registration process in the Isle of Man. Trust us to provide expert guidance and support, so your business can thrive from day one in the Isle of Man. Start your journey with confidence, knowing you have the best team by your side.

Legal Opinion about the Isle of Man as a Jurisdiction for Company Formation

Ganna Voievodina

Manimama

CEO

"The Isle of Man is an attractive jurisdiction for company formation due to its simple and efficient registration process. One of the key advantages is the favorable tax regime, with no corporate income tax, capital gains tax, wealth tax, inheritance tax, or stamp duty. The jurisdiction also offers excellent telecom and power infrastructure, ensuring strong business connectivity. It fosters a business-friendly environment, welcoming foreign investors with streamlined regulations designed for ease of business operation. Additionally, the Isle of Man provides political and economic stability, and double tax relief is available for foreign tax paid. Contact us to set up your company".

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Our Packages

Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.

Company Formation

Company formation
Registered address for the 1st year
Annual accounting requirement bookkeeping

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Annual Services

Company renewal and registered address
Annual Government Tax
Mandatory Financial Beneficiary Report

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Other Services

Set of corporate documents (certified/apostille)
Nominal service for 1 year
Offshore banking

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Key Numbers about Incorporations

1 week

average term of company formation

аt least 1

shareholder in the company

аt least 1

director in the company

0%

corporate income tax (CIT) rate

10/22%

personal income tax (PIT) rate

20%

value-added tax (VAT) rate

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Set up Your Company in the Isle of Man in Several Steps

Step 1. Initial setup

Initiating a preliminary project assessment
Preparation and filing of the package of documents

Step 2. Company registration

Verificate and reserve the company name
Appointment of a Registered Agent
Preparation of necessary documents (Memorandum, Articles of Organisation, Form L6 (shows the intended registered office of the company which must be in the Isle of Man) and
other incorporation documents)
Submit incorporation documents to the local Companies Registry
Issuing of a Certificate of Incorporation, Memorandum and Articles of Organisation and other corporate documents
Open of a bank account

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Requirements for Company Formation in the Isle of Man

Before deciding to set up a new company in the Isle of Man, read the information below to understand the characteristics of a Limited Liability Company (LLC):

Shareholders: at least one shareholder (can be any nationality and can reside anywhere in the world, can also be a legal entity).

Director: at least one director (can be any nationality and can reside anywhere in the world, can also be a legal entity).

Company secretary: at least 1 company secretary (optional).

Minimum share capital: there is no minimum capital requirement.

Legal address: a company must have a registered address in the Isle of Man.

Registered agent: a local registered agent is required.

Liability: the liability of members is limited to the extent of their contribution to the capital.

Accounting: there are no requirements to file annual financial statements. Yearly profit and loss statements, balance statements and directors’ reports must be prepared and kept at the registered office despite there being no need to file these documents.

Taxes in the Isle of Man

Corporate income tax (CIT)

CIT rates 2024/2025:

standard rate for all resident and non-resident companies - 0%
banking business income - 10% / 15%*
land and property income from all sources (including petroleum extraction activities or rights from 6 April 2024)** - 20%
retail business - profits above £500,000 - 10% / 15%*

* For 2024/25, a new 15% rate will be applied to certain banking businesses and large retailers. This rate will only apply to those banks and retailers whose profits would otherwise be subject to a top-up tax outside the Isle of Man under the OECD’s Pillar 2 Global Minimum Tax initiative.

** A new 20% rate of tax on income of corporate taxpayers from petroleum extraction activities or rights. This 20% rate applies from 6 April 2024.

Personal income tax (PIT)

PIT rates 2024/2025:

standard rate - 10%
higher rate - 22%
non-resident rate - 22%

The threshold at which the higher rate becomes payable is £6,500 for an individual and £13,000 for a jointly assessed married couple or civil partners.

Value added tax (VAT)

VAT is applied on the domestic supply of most goods and services and is currently charged at a standard rate of 20%.

Some supplies are charged at 0%, including food, books and publications, and public transport.

There is also a 5% rate applied to domestic property repairs, amongst other things.

Some supplies are also exempt from VAT, including insurance and financial services, betting and gaming, education, and healthcare.

Double taxation avoidance agreements in the Isle of Man: Australia, Bahrain, Denmark, Estonia, Faroe Islands, Finland, Greenland, Guernsey, Iceland, Ireland, Jersey, Luxembourg, Malta, New Zealand, Norway, Poland, Qatar, Seychelles, Singapore, Slovenia, Sweden, United Kingdom.

Start Your Company Formation Process with Manimama

There are numerous reasons why Manimama is the leading company formation agent in the Isle of Man:

Expertise in Regulations of the Isle of Man

1. Manimama has an in-depth understanding of the Isle of Man legal and regulatory framework.
2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.

Local and International Experience

1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
2. Our expertise spans various industries, providing customized solutions for each client.

Efficient and Timely Service

1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
2. Our efficient processes minimize delays and get your business up and running quickly.

Client-Centric Approach

1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
2. Our dedicated team is always available to address any concerns and provide expert advice.

Robust Network of Local Partners

1. We have established strong relationships with local authorities, banks, and service providers.
2. This network ensures that your business receives the best possible support and resources.

Ongoing Compliance Support

1. We provide continuous support to ensure your business remains compliant with laws of the Isle of Man.
2. Our team keeps you updated on any regulatory changes that may impact your company.

Frequently Asked Questions

What are the benefits of company formation in the Isle of Man?

The Isle of Man offers several benefits, including zero corporate income tax, no capital gains tax, wealth tax, inheritance tax, or stamp duty. Additionally, it provides political and economic stability, and a business-friendly environment.
How long does it take to form a company in the Isle of Man?

The formation process is generally quick, often taking between 1 to 5 business days, depending on the complexity of the company structure and the documents provided.
Is there a minimum share capital requirement for forming a company?

No, there is no mandatory minimum share capital for Limited Liability Companies (LLCs) in the Isle of Man, making it accessible for businesses of all sizes.
Do I need to be a resident of the Isle of Man to form a company?

No, there is no requirement for the directors or shareholders of the company to be residents of the Isle of Man. The company can be wholly owned by non-residents.
What are the tax advantages of forming a company in the Isle of Man?

The Isle of Man offers significant tax advantages, including no corporate income tax for most businesses, no capital gains tax, no inheritance tax, and double tax relief for foreign taxes paid.
Is a registered office required for a company in the Isle of Man?

Yes, all Isle of Man companies are required to have a registered office on the island. This address will be used for official correspondence and company records.
Can the Isle of Man company be used for international business?

Yes, Isle of Man companies are widely used for international trading, holding assets, and other business activities, benefiting from the island's favorable tax regime and business infrastructure.

Semen Kaploushenko

KUNA, CBDO

"Manimama OU provided exceptional legal services, guiding us through the complexities of international business setup with professionalism and expertise. Their team's attention to detail ensured our compliance and smooth operation."

Vadym Grusha

Trustee Wallet, CEO

"I highly recommend Manimama OU for their outstanding support. Their knowledgeable lawyers made the entire process straightforward and efficient."

Yuriy Soshenko

WhiteBit, CLO

"The legal advice and services from Manimama OU were top-notch. Their dedication and thorough understanding of our needs helped us achieve our business goals seamlessly."

Manimama as the Best Solution for Your Company Formation in the Isle of Man

Choosing the right partner for company registration is crucial for a smooth and successful business launch. At Manimama, our legal experts specialize in navigating complex legal landscapes, providing holistic solutions tailored to your needs.

Comprehensive Legal Expertise
Since our inception, Manimama has been at the forefront of tackling intricate legal challenges with innovative and thorough solutions. Our team of dedicated lawyers evolves alongside our firm, reflecting our people-centric philosophy and commitment to excellence.

Results-Driven Approach
Manimama is a results-oriented law firm that offers an extensive array of legal services to both individuals and corporate entities. We pride ourselves on maintaining the highest standards of integrity and a "client-first" approach, leveraging our extensive skills and knowledge to achieve the best outcomes for our clients.

Global Presence and Local Expertise
Our journey began with the establishment of Manimama OU's first European office in Estonia, a country renowned for its progressive regulation of virtual currencies, international investments, fintech, and gambling sectors. Estonia’s favorable tax system and digital-friendly investment climate provided a robust foundation for our expansion.

Community Commitment
At Manimama, we believe in giving back to society and making a positive impact. Our commitment to social responsibility is integral to our operations, ensuring that we contribute to making the world a better place while helping our clients achieve their business goals.

By choosing our company formation service in the Isle of Man, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in the Isle of Man and pave the way for your business success.