Companies

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Companies

We are able to provide comprehensive and professional corporate services for international and Isle of Man based clients. We provide a wide range of services relating to the formation and registration of Isle of Man companies and their administration. Our services include:

• Company incorporation and secretarial services
• Isle of Man resident company directors
• Nominee shareholders
• Acting as a Registered Agent for the Isle of Man 2006 Act Company (the ‘New Manx Vehicle’)
• Bookkeeping and accounting services including preparation of annual financial statements
• VAT registration and services if appropriate and required

Why use an offshore company? 
Offshore companies may be formed for a variety of reasons including for one or more of the following purposes:

Tax planning 
Offshore structures can mitigate both direct and indirect taxation, though specialist advice should always be taken by a client.

Hold personal or business assets 
An Isle of Man Investment Holding company may own assets which would otherwise be held by individuals. This provides some notable advantages.

For example, if it is subsequently desired to transfer the investment assets to a third party, instead of transferring the assets themselves, economic ownership of the assets can pass by transfer of the shares in the company. This can reduce transfer costs and mitigate any transfer duty that would be payable on the transfer of the assets themselves.

Ownership of assets by a company means that the sole asset held by the individual is the shares in that company. Because the Isle of Man has no Capital Gains Tax or Inheritance Tax, liability to pay estate taxes upon death may be avoided in some jurisdictions. There are also particular advantages to Non-Resident and Non domiciled persons using an Isle of Man company.

Consultancy and professional services, payroll services and employment companies 
An Isle of Man company can be an effective vehicle for the provision of professional services in computer, entertainment and other fields.

To raise finance or restructure business 
This can range from the use of Isle of Man companies in private company structuring arrangements through to such areas as specialist mutual funds. It should also be borne in mind that the Isle of Man is the second most popular non UK jurisdiction used for AIM listings with over £5billion administered in Isle of Man AIM listed companies.

International trading, Shipping, Yacht and Aircraft Ownership 
Under the terms of the Customs & Excise Agreement of 1979 with the UK. The current Customs and Excise Agreement covers customs duties and many other (but not all) indirect taxes. The Agreement, which is backed by both UK and Manx legislation, means that for VAT, customs and most (but not all) excise duty purposes the two territories are treated as if one. Most of these indirect taxes and duties are pooled and shared. This negates the need for customs barriers between the two countries. Manx legislation exists which mirrors the equivalent UK law where required. HL Fiduciaries Limited are able to assist you with VAT triangulation and other VAT related matters.”

This unique situation, together with the introduction of the Isle of Man Shipping and Aircraft Registers and our favourable zero percent corporation tax regime provides a number of planning opportunities for clients with sophisticated international trading structures and those considering shipping, yacht and aircraft transactions.

Clients can also benefit from the use of Isle of Man companies for the international commercialization of intellectual property, franchises, patents and licensing businesses.

HL Fiduciaries Limited has access to leading tax and legal advisors who we co-ordinate with to achieve an optimal solution for our clients.

Offshore Trust Company | Offshore Planning | Trust Companies Isle of Man