Isle of Man
Location Centre of the Irish Sea, within sight of England, Scotland, Ireland and Wales.
Time Zone Greenwich Mean Time.
Population App. 85,000.
Capital Douglas.
Airport One airport situated in the south of the island.
Language Predominantly English but also Manx.
Currency The Isle of Man is in currency union with the UK although it issues its own currency, which is legal tender only within the Isle of Man. One Manx pound is therefore equivalent to one UK pound sterling.
Dialing Code +44 1624.
Centre's Expertise International legal, accounting, banking and fiduciary services.
Political System Independent.
Legal System Common law jurisdiction.
Personal Income Tax Low rates of income tax – each resident is entitled to an attractive pre-tax allowance with a low rate of 10% and the standard/high rate of 20%. The amount of income tax payable is capped at £120,000 per individual.
Corporate Income Tax Most companies pay income tax at a standard rate of 0% on all income; companies that receive income from banking business or from land and property situated in the Island pay tax at a 10% rate on profits from those sources and the standard 0% rate on their remaining income. Companies engaged in retailing activities on the island are taxed at 10% on all taxable profits over £500,000.
Exchange Restrictions None for both resident and non-resident.
Tax Treaties For full details, please go to
Permitted Currencies Any.
Minimum Authorised Capital No minimum. Concept of capital maintenance replaced by solvency test.
Minimum Share Issues No minimum. Concept of capital maintenance replaced by solvency test.
Shelf Companies Yes.
Incorporation Time Scale 24 hours.
Incorporation Fees £100 - £500
Annual Fees £380.
Minimum Number One.
Residency Requirements No.
Corporate Directors Yes.
Meetings/Frequency As the directors or members require.
Disclosure Annual return required including directors name. Member only if elect to file.
Bearer Shares No.
Minimum Number One.
Public Share Registry Yes, only if elect to file.
Meetings Frequency As the directors or members require.
Annual Return Yes.
Audit Requirements No.
Registered Office Must, at all times, be on the Isle of Man. Must have registered agent.
Domicile Issues Transfer to domicile permissable.
Company Naming Restrictions The FSC can refuse to register a company with a name which in its opinion is undesirable, ie misleading, offensive or harmful to the public.
Q&A with David Lidington, Minister of the Cabinet Office
  The UK’s secure relationship with the British Overseas Territories has been thrown into question following the UK parliament's decision to implement public registers of beneficial ownership. (01/10/2019)
How Should the British Offshore World Respond to a Crisis of Reputation?
  The Governments of the CDs and OTs have done everything their business sectors have asked of them. They've raised standards and worked with the UK Government to maintain an environment that allows businesses to succeed. And ’offshore’ businesses have (01/07/2019)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
Isle of Man: Standing Up to the Future
  The Isle of Man is recognised globally as a quality financial centre providing services which include fiduciary, banking, life assurance and pensions. In recent years it has come to represent the jurisdiction of choice for e-gaming businesses. (25/08/2017)
Listing in an Uncertain World
  The CEO of the International Stock Exchange Group (TISEG) explores how its offering of certainty is strengthening the rationale for debt securities, investment vehicles and trading companies to list on TISE (01/08/2017)
Isle of Man: Stability and Security in Challenging Times
  In these times of increasing global political and economic instability, international businesses, entrepreneurs and HNWIs need to be cautious when choosing a jurisdiction in which to structure their affairs or set up businesses.....w (01/10/2016)
If it quacks like a duck?…The classification and duties of non-trustee power-holders
  With reserved powers legislation available in most offshore jurisdictions, Ashley Fife examines the difficulties regarding the categorisation of powers held by a person other than a trustee as either fiduciary or non-fiduciary. (01/01/2016)
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  IFC Isle of Man: The Definitive Guide to the Manx Financial Sector
  Free digital edition now available. -
  Isle of Man Tax Treaties
  The Isle of Man currently has 40 tax agreements in place consisting of 11 DTAs and 29 TIEAs. - read more...
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