High respectability, Sophisticated infrastructure, European jurisdiction
Expensive for non-trading operations, The incorporation process is quite bureaucratic
Corporate legislation source:
UK Common Law, The Companies Acts 1931 to 2004
Must end 'Limited' or 'Ltd', 'Public Limited Company' or 'PLC'
Time required for incorporation:
Minimum number of directors:
2 of any nationality
Usual minimum capital:
No minimum capital requirements
Are accounts required:
Accounts must be prepared and filed. A company need not have its accounts audited if it meets two of the following three criteria:
Its annual turnover is GBP 5,6 million or less
Its balance sheet total is GBP 2,8 million or less
Its average number of employees is 50 or less
Minimum number of shareholders:
Type of shares:
A company registered in the Isle of Man should submit a tax return to the Isle of Man Treasury. These are not publicly available. All Isle of Man companies are now treated as resident companies. Resident companies are taxed at a rate of 0% on their trading and investment income.
Annual tax and duties:
250 GBP + 70 GBP stamp duty
For VAT purposes, the Isle of Man is considered as part of UK, instructed by EU directives. The Isle of Man has a Customs and Excise agreement with UK.
What information is available on the public file:
Registered office, company secretary, Memorandum & Articles of Association, directors, shareholders
Local registered office is required by law
Company secretary is required by law
COMPULSORY COSTS (payable prior to incorporation)
International authentication (Apostille):
Legal expenses, filing fees and stamp duties:
Issuing of share certificates and initial minutes and forms:
ANNUAL FEES *
Registered office and registered agent:
Annual tax and duties:
Due diligence checking fee:
* The annual fees for the first year of the company's existence are payable prior to incorporation. Subsequently the amount of 1420 GBP is payable annually beginning from the 1st of January of next year. Non-payment of the annual fees results in deletion from the Companies Registry.
The amount of 2980 GBP includes the following services: formation of the company, duties payable to the local authorities for the incorporation of the company, Certificate of Incorporation with Apostille, provision of Memorandum Articles of Association authenticated by Registrar, Appointment of First Directors with Notary Public authentication, Share Certificates, initial minutes, provision of registered office and registered agent for 1 year, annual tax for the 1st year, two company seals, luxury leather corporate kit, courier delivery to Laveco office. The price contains no hidden costs!
Nominee Director (2 private persons):
Certificate of Good Standing:
Special Power of Attorney:
In cases where the total number of attorneys, shareholders and beneficiaries in a company is more than 5, a supplement of 100 USD will be payable for each additional person.