Isle of Man Companies - Company Administration Services
Companies in the Isle of Man are taxed at 0%,
or at 10% if the company derives income from
banking or property in the Isle of Man.
Traditionally companies in the Isle of Man have
been established under the Companies Acts
1931-2004. These Companies Acts are broadly
similar to UK law, though with some favourable
variations.
More recently, The Companies Act 2006 made
provision for a new type of company, often
called the New Manx Vehicle (“NMV”).
The NMV is based on the widely recognised
International Business Company model, as used
in places such as the BVI.
The NMV confirms the Isle of Man’s position as
an innovative and progressive offshore
jurisdiction and is accepted as having been
designed to meet the needs of today’s fast
moving and sophisticated global market.
ECS International favours the NMV as a more
flexible, cost effective and user friendly entity.
Key elements of the NMV include:
- No authorised share capital requirement
- More flexible share types and use
- No capital maintenance requirement
- No prohibition of financial assistance
- Reduced filing requirements
- Reduced accounting requirements
- Ability to have a single director
- No AGM required
- Easier transfer of domicile procedures
- Simple merger or consolidation process
- Easier listing requirements
- Simple solvency test requirement
- More flexibility in making distributions
Other types of entity available in the Isle of Man include Partnerships, Limited Liability Companies and Foundations.
Company Administration
ECS International incorporates and administers
companies in many jurisdictions. The majority
of our companies are based in the Isle of Man
and Gibraltar, though we will consider any
jurisdiction on request.
We provide the following services in respect of
companies:
- Advice on structure and jurisdiction of incorporation/implementation of external tax advice;
- Registered or representative office;
- Provision of directors, company secretary, nominee shareholders;
- Acting as registered agent where applicable;
- Full administration, secretarial and registrar services;
- Bookkeeping and accounting functions;
- Application for VAT registration if relevant.
The services provided by ECS International
ensure that companies are set up and
administered in accordance with all applicable
laws and regulations.
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