Manx Exempt Companies
are a specific type of company that can be owned by non-Manx residents. Provided that the company does not have any Manx source income (other than bank interest) and does not trade on the island the company is granted exemption from tax. The exemption requires annual renewal and payment of a fee (currently £430). The company must also have at least one Manx resident and a qualified company secretary.

The Isle of Man
has built its reputation as one of the world's leading international financial service centres. It has a long-term economic strategy committing itself to developing and increasing its reputation as a leading offshore financial centre.

Taxation in the Isle of Man
other than being exempt from tax on its profits, payments to shareholders can be made free of tax. There are also no capital gains taxes, stamp duties, inheritance or estate taxes on the Isle of Man.

Taxation in the UK
provided that the company is managed from the Isle of Man, it should be assessed only on its UK source taxable profits at the basic rate of tax, currently 22%. Strategies can be employed to further minimise the tax payable by the company. In addition, the company is exempt from capital gains tax. For UK residents there may be additional personal tax reporting requirements.

Confidentiality
is often desirable in commercial property transactions. Where an Isle of Man company holds UK property the information that can be obtained from a search is limited to showing the registered shareholders, who may be nominees holding the shares for the ultimate owners. Although accounts must be prepared they do not have to be audited or filed.

Use of Trusts
the shares of the company can be held by trustees. Offshore trusts are flexible vehicles for holding assets and can facilitate tax, estate and succession planning whilst providing asset protection.

Future Sale
when the property is to be sold there is an option either for the property or the company to be sold. In the latter case stamp duty and conveyancing costs can be avoided and any lease, managing agent or service agreements can continue with no apparent change of ownership.

Duport Associates works with experienced partners to provide a top class service that you can trust.

After you complete the Order/Enquiry form you will be contacted direct by a specialist in the type of offshore company you are seeking.

We acknowledge with thanks the help provided by our partners, Calmanx Ltd, in creating this section of our website.