The benefits of using an offshore LLC registered in Manx are numerous, and include aspects such as financial security, corporate income tax rate and European Union protocol measures. Businesses looking for overseas LLC registration should definitely consider the Isle of Man as a place to register a company.
The Isle of Man is situated between Ireland and the United Kingdom; it is a peaceful and stable island that maintains a level of autonomy. While technically a British overseas territory, it is not in fact a member of the United Kingdom.
This means that LLCs incorporated on the island often benefit from complete tax exemption for non-residents. Therefore an offshore LLC registered in Manx pays 0% corporate income tax. Meanwhile the island maintains protection from the UK government, making it a safe haven for your assets.
In addition to this, the island benefits from the stipulations of the European Union. The island has EU VAT registration for trade even though it is not in the EU. This registration can make it possible for a company to reclaim input VAT.
As a crown dependency, the Isle of Man has a variable VAT rate in accordance with the United Kingdom's. These two benefits combined make the Isle of Man a formidable jurisdiction to register your company. For non-residents of the Isle of Man, distributions made from companies registered on the island have a 0% tax charge.