Isle of Man
The Isle of Man, situated in the centre of the British Isles, is an internally self-governing dependent territory of the British Crown which is not and never has been part of the United Kingdom. It is however, part of the British Isles. Tynwald, the Island's 1,000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. External issues, such as foreign representation and defence, are administered on the Island's behalf by the UK Government and the Island makes an annual payment for these services. As a British Crown dependency, the ultimate responsibility for the Island's good government is vested in the Crown but by long standing convention, the UK Government does not legislate for the Island except with the specific consent of the Island's Government.
Key Corporate Features
| Type of entity | Resident LLC |
| Type of law: | Common |
| Shelf : | Yes |
| Time to establish a new company: | 5 days |
| Minimum government fees : | Nil |
| Corporate taxation: | Fiscally Transparent |
| Double taxation treaty access: | No |
Share capital or equivalent |
|
| Standard currency: | Not Applicable |
| Permitted currencies: | Not Applicable |
| Minimum paid up: | Not Applicable |
| Usual authorised : | Not Applicable |
Managers |
|
| Minimum number : | 1 |
| Local required : | No |
| Publicly accessible records : | Yes |
| Location of meetings : | Anywhere |
Members |
|
| Minimum number: | 2 |
| Publicly accessible records: | Yes |
| Location of meetings: | Anywhere |
Company Secretary |
|
| Required: | Not Applicable |
Registered Agent |
|
| Required: | Yes |
| Local Required: | Yes |
Accounts |
|
| Requirement to prepare: | Yes |
| Audit Requirements : | No |
| Requirement to file accounts: | No, but must be available for inspection in the Isle of Man |
| Publicly accessible accounts: | No |
Other |
|
| Requirement to file annual return: | Yes |
| Change in domicile permitted: | Yes |
