Registering an LLC in the Isle of Man can offer many benefits to the people with vested interests in that company. An LLC in its own particular way can operate somewhat like a hybrid organisation, somewhere between a company and a partnership.
One benefit of registering an LLC in the Isle of Man is that the island is part of British territory but it is not a complete part of the larger United Kingdom. This means that Isle of Man companies operate slightly differently to those in the United Kingdom and elsewhere. One major benefit this brings about is much lower tax; often corporate tax rate for LLCs registered in the Isle of Man is 0%.
The Isle of Man also remains part of the customs territory of the European Union. This means the LLC maintains VAT registration for trade in the union and enjoys all the benefits that this brings about. The zero rate corporate income tax does not always apply, depending, for example, on what business the company does. Banking and property trade LLCs within the Isle of Man may be legally required to pay a higher rate of corporate income tax - up to 10%.