If you are considering your options when it comes to offshore company set-up, the Isle of Man is a very appealing prospect. Under legislation relating to the Isle of Man Companies Acts 1931-2004, the Limited Liability Companies Act 1996 and the Isle of Man Companies Act 2006, companies formed in this jurisdiction are free from certain tax restrictions.
As well as enjoying a tax cap, profits are protected from certain taxes and subject to greater growth opportunities. When looking to make investments for the future, offshore holding companies are proving increasingly popular - and the Isle of Man is one such place where these holding companies can develop and build profit securely.
However, companies which are formed under the 1931 Act are subject to certain legal obligations. A named director and shareholder who are resident to the island nation must be made publicly available, as must a registered address. In order to retain privacy and security when setting up a company in the Isle of Man, individuals and businesses can choose to use a nominee service.
Your nominated shareholders and directors will hold senior positions within the company, but in name only. These residents fulfil your obligations as an offshore asset holder while allowing you to maintain full control of all business functions and profits. If privacy and safety matter to you, protect your interests through a nominee service.