The virtual office
is a physical address for a business that can also include facilities that are present in a traditional office space. The owner of the business can select the variety of services and can personalize the needed package, as per the particularities of the business.
Companies can open a virtual office is Isle of Man as an alternative to the traditional office. This is a suitable option especially for those offshore owners who wish to reduce the costs traditionally associated with renting or purchasing an office space and supporting a large team of employees.
The virtual office offers flexibility, saves costs and, most importantly, it offers the local registered address needed to incorporate a business.
What companies can use a virtual office
An offshore company in the Isle of Man
can operate through a virtual office while still having access to most of the facilities available through a traditional office. Setting up a company in the Isle of Man
is a simple process and foreign investors can benefit from the advanced flexibility and administrative advantages if they choose to operate their business in this manner.
Trade businesses in the Isle of Man, as well as businesses involved in virtually any other type of activity, can benefit from the lower costs and advantages associated with operating via a virtual office.
A virtual office package will include a local address that will be used for Isle of Man company registration and for business correspondence and additional secretary services needed to operate the business.
Services offered in a virtual office package
• local registered address and telephone number: the address will be mandatory for the registration of the business and the telephone number is used for keeping a professional business image, at the same time facilitating the communication with local clients;
• call handling and forwarding services: a secretary will handle all of the calls that come through the pre-determined local telephone line and will forward them to you as needed;
• mail and fax forwarding services: any mail that arrives at the physical address, as well as any faxes that arrive for your company on the local fax number, will be forwarded as per your instructions.
• document re-mailing: re-mailing services can be useful for companies that need to receive their documents at a different address.
Additional services may include a dedicated office space and extra meeting room space, as needed by the company owners. Investors who choose to work via a virtual office provided by our agents will be able to indicate a preferred forwarding address and all mail and call forwarding will be handled as per the instructions of the client.
Investors who choose to work via a virtual office provided by our agents will be able to indicate a preferred forwarding address and all mail and call forwarding will be handled as per the instructions of the client.
A virtual office offers a high degree of flexibility and substantially lower costs compared to those incurred when administering a traditional office space.
How to open a company and have a virtual office in the Isle of Man
Investors can choose to work via a virtual office as soon as they decide o incorporate a company in the Isle of Man. As a matter of fact, the decision is important as the address of the virtual office will be used in the incorporation documents as the registered office of the business. It is important to have this address as it will be used for official correspondence not only from the clients but also from the banks, Government entities, and other organizations.
The usual time need for Isle of Man company formation is approximately two weeks. With the help of our agents, you will be able to handle some of the steps remotely, while we help you draft the documents. We will help you form the very beginning, starting with naming at least one shareholder and determining how the share capital will be allotted. It is useful to know that there is no mandatory minimum share capital.
Having a registered agent and a registered office is important, as previously stated. The agent must be a resident of the Isle of Man and he will be the one who will file the documents and make other future submissions, as needed. The Memorandum and Articles of Association will include all of the company details and it is drafted after the previous steps are completed as it will include the share capital, the information about the shareholders, the registered address and the registered agent.
Once all of the documents are in order, one of our agents will help you submit the documents for registration with the Isle of Man Companies Registry. The company is usually incorporated within two days after this submission is made. After this is done, the founders can open a corporate bank account (for which the virtual office address will be used) and can make any other registrations, for example, the VAT registration when the annual turnover is greater than a certain amount.
The Isle of Man is a location that offers multiple business advantages, from low taxes or no taxes for locally registered companies to a strong level of investor confidentiality. Any foreign investor can incorporate here and can act as company director regardless of nationality. The business structure is flexible and can be used for a number of different purposes. A virtual office package in the Isle of Man only adds to this flexibility, as investors can work from anywhere in the world while maintaining a permanent business address in this jurisdiction.