TBA & Associates

Isle of Man
New Manx Vehicle

The Isle of Man introduced the New Manx Vehicle (“NMV”) in 2006, offering a structure similar to those in other jurisdictions. The NMV was designed for easy use in international business and wealth management, boasting several attractive features:

  • Minimum of one Director (which may be a Corporate Director).
  • Simplified filing requirements.
  • Relaxed accounting requirements for dividend distribution.

These features provide the Isle of Man NMV with enhanced flexibility for international trade and a straightforward accounting process for profit distribution to company owners.

The benefits of an Isle of Man New Manx Vehicle – NMV encompass:

Zero corporation tax, with profits taxed at 0% (banking and insurance companies taxed at 10%).

Zero capital gains tax, ensuring no tax on capital gains when holdings are sold.

Zero inheritance tax, making properties held within an Isle of Man company exempt from inheritance tax.

Zero stamp duty, with potential mitigation of stamp duties in specific cases.

VAT registration, enabling Isle of Man companies to register for EU trade and sales.

Confidentiality of beneficial owner identity through the use of a corporate shareholder, holding shares under declaration of trust for the owner.

No withholding tax on dividend payments to shareholders.

The Isle of Man is widely recognized for its well-regulated international business and finance center, easily accessible from London and Dublin.

Isle of Man Limited Company (2006 Act)
Company Requirements

General Company Information
  • Type of law: Common
  • Type of entity: Limited
  • Time to incorporate: 2 days
  • Corporate taxation: 0% (Banking & Insurance companies: 10%)
  • Minimum government fees: £360
Directors
  • Minimum number: One (and can be Corporate)
  • Local Directors required? No
  • Public records: Yes
  • Location of meetings: Worldwide
Company Secretary
  • Required – No
Share Capital
  • The act removes the requirement for authorized share capital.
  • The NMV offers a highly flexible regime for shares.
Annual Accounts
  • Requirement to prepare: Yes
  • Requirement to audit: No, with some exceptions
  • Requirement to file: No, except in relation to taxation
  • Public access: No
Members
  • Minimum number: One
  • Location of meetings: Worldwide
  • Publicly accessible records: Optional
General Information
  • Transfer of Domicile permitted: Yes
  • Annual Return required: Yes
For further information please feel free to call or email us and talk to one of our Business Executive Managers to provide you full assistance.

Benefits of Setting up a Business Company in the Isle of Man

The Isle of Man, while geographically located in the British Isles, boasts a separate government and identity, with a customs agreement with the UK, simplifying trade. Key advantages of companies established in the Isle of Man for trading in other jurisdictions or holding investments include:

Low tax jurisdiction with a zero-corporation tax rate (except for banks, which pay a 10% tax on their profits).

No withholding tax on dividends for shareholders residing outside the island.

There is no capital gains tax, stamp duty or inheritance tax.

IOM Holding and Investment Company

An Isle of Man-incorporated company offers significant advantages for holding investment portfolios, including commercial property. The island is a signatory of the Paris Convention on Patents and Trademarks, making it suitable for holding intellectual property. Additionally, recent legislation has made the Isle of Man an excellent jurisdiction for those involved in the Cryptocurrency Business.

 Isle of Man and the UK

The Isle of Man has a well-established legal system, a sophisticated banking system, political stability, and no exchange controls or similar limitations on financial transactions. It maintains a customs and excise agreement with the UK, effectively treating both territories as one for customs duties, most excise duties, and value-added tax.

The Isle of Man has a well-established legal system, a sophisticated banking system, political stability, and no exchange controls or similar limitations on financial transactions. It maintains a customs and excise agreement with the UK, effectively treating both territories as one for customs duties, most excise duties, and value-added tax.

Advantages of the Isle of Man in EU Trade

For companies incorporated in the Isle of Man to trade with the UK or EU countries, VAT registration is necessary, subject to reaching the registration threshold. TBA can also assist with establishing an Isle of Man Foundation or the formation and registration of an Isle of Man Trust.

Established in 2009, TBA Associates has a dedicated Business Development Team specializing in tailor-made solutions for wealth preservation and enhancement. The expert team provides tax-efficient structures for cross-border transactions, offering guidance to help clients make the right decisions while ensuring the advantages of the Isle of Man are fully understood. They assist in planning and implementing strategies for conducting financial affairs with absolute confidentiality and in a tax-favorable environment.

Our company licensing services

— What we do and do not do

Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.

TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!

Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.

We help you grow your business across international border and achieve financial efficiency.

We are ready to answer all your questions!