Acclaim specialises in the formation and administration of corporate entities in the Isle of Man.

The Isle of Man has a highly favourable regime of corporate taxation, offering many benefits to clients who wish to deploy well-structured tax planning vehicles.

Isle of Man companies may be formed for tax planning purposes, to hold personal or business assets, raise finance or to restructure a business. Isle of Man companies are frequently used in securitisations and structured finance transactions.

Our commitment to service remains paramount, whether establishing a simple company for asset holding purposes or assisting clients with AIM listing or other financing actities.

Services we provide include:

Company incorporation
Provision of registered office and registered agents
Provision of Isle of Man resident company directors
Provision of nominee shareholders to maintain confidentiality
Company secretarial services
Accountancy and book keeping services
Preparation and filing of statutory returns
Registration for VAT and ongoing administration (if required)

We are also able to provide companies from a range of offshore jurisdictions to suit a client’s individual needs.

Why the Isle of Man

The Isle of Man operates two distinct streams of corporate entity, usually referred to as 1931 Act and 2006 Act companies.

The 1931 Act company is a traditional corporate entity and is subject to many operational and filing requirements which can prove onerous.

The 2006 Act company is a more up to date entity specifically designed to allow more flexibility in its operation while still retaining appropriate safeguards.

Under both the 1931 and 2006 Companies Acts there are a variety of forms of company available:

The Isle of Man has a highly favourable regime of corporate taxation, offering many benefits to clients who wish to deploy well-structured tax planning vehicles, including Manx companies.

Some of the Island’s unique benefits include:

•Licensing and regulation of corporate service providers by the Isle of Man Financial Services Authority.

•Nominee Shareholders – Isle of Man legislation permits the use of Nominee Shareholders and does not require the beneficial ownership details to be registered with the authorities, giving a degree of confidentiality.

•Beneficial Taxation Arrangements – Isle of Man companies with non-Isle of Man beneficial ownership and whose activities take place outside the Isle of Man are subject to income tax at zero%.

•Legal framework – The Isle of Man is a ‘Common Law ’jurisdiction. With a few exceptions, notably in Land law and Constitutional law, the Isle of Man closely follows English legal precedents and legislation.

•Professional services – As a mature financial centre the Island has a well established professional services industry, with representation from leading international firms in the fields of Law, Accountancy Banking and Insurance.

Types of Company

The Isle of Man operates two distinct streams of corporate entity, usually referred to as 1931 Act and 2006 Act companies.

The 1931 Act company is a traditional corporate entity and is subject to many operational and filing requirements which can prove onerous.

The 2006 Act company is a more up to date entity specifically designed to allow more flexibility in its operation while still retaining appropriate safeguards.

Under both the 1931 and 2006 Companies Acts there are a variety of forms of company available:

Company Limited by Shares
The most commonly used company where the liability of its members is limited to the amount unpaid on shares they hold.

Company Limited by Guarantee
Such companies have no predetermined capital and no shares. The members’ liability is limited to the amount they have agreed to contribute.

Hybrid Company
A hybrid company combines the features of companies limited by shares and by guarantee. Such companies are often used as an alternative to a trust.

Unlimited Company
This company is similar to a civil law partnership and its use is usually limited to situations where a corporate personality only is required. The company has a share capital, but there is no limit to the liability of the members.

Public Company (PLC)
A 1931 Act company can be established as a public company. Such a public company may offer its shares or debentures for sale to the general public and must have its annual financial statements audited. The 2006 Act does not differentiate between private and public companies and any 2006 Act company can offer its shares to the general public.

Limited Liability Company (LLC)
Originally conceived in the USA, an LLC amounts to an ‘association with limited liability’. It has a corporate personality and limited liability but for tax purposes it is treated as a partnership, with each member of the LLC paying tax on their share of the profits.

Protected Cell Company
A form of company limited by shares, a protected cell company is a single legal entity in form but has the ability to segregate and protect its assets in separate cells.

Other Jurisdiction

In addition to providing Isle of Man company services, we are able to offer corporate structures in a wide range of other jursidictions to suit client needs. Typically, such jursisdicitons include:

Bahamas
British Virgin Islands
Cayman Islands
Cyprus
Delaware USA
Gibraltar
Hong Kong
Ireland
Jersey
Luxembourg
Malta
Mauritius
Netherlands
Seychelles
Turks & Caicos