Steps for setting up an offshore company in the Isle of Man
The Isle of Man company formation process is a simple one and it can be expedited with the help of our company formation agents. We can help you gather and draw up the needed company documents and submit them for registration.
The steps for opening an offshore company are generally the following ones:
Choose the business type: the LLC, the foundation, the trust – used according to the offshore or holding investment needed.
Appoint the registered agent and determine the registered office: these two elements are required when setting up a company in the Isle of Man
Draw up the company documents: the Memorandum and Articles of Association.
Document submission: once prepared, the company documents and information about the directors and shareholders are submitted for company registration with the Companies Registry.
Open a bank account: once registered, the company can open a bank account; our agents can help investors during this step without them needing to travel to the Island.
Conditions for Isle of Man offshore company set up
The following list describes the several most important conditions for company registration in the Isle of Man:
•Registered office: according to the local company registration requirements, the company must maintain a registered office on the Island.
•Registered agent: also according to the general company formation rules, it is required to appoint a licensed registered agent (the license is to be issued by the Island of Man Financial Supervision Commission).
•Management: one director is needed to open a company, however, there are no restrictions on special requirements for residency. One shareholder is also needed.
•Special requirements: upon registration, the company will need a proposed company name and alternatives, if applicable, the names of the directors and shareholders.
The video below is a presentation of the requirements for opening an offshore company in the Isle of Man:
For more information about setting up a company in the Isle of Man, we invite you to contact us.
Call us now at (+44)203-287 0408 to set up an appointment with our business consultants in the Isle of Man. Alternatively you can incorporate your company without traveling to the Isle of Man.
As our client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in the Isle of Man.