Offshore and International Company Formation

Offshore Jurisdictions: Isle of Man

The Isle of Man has one tax treaty partner, the United Kingdom. As with Guernsey, this treaty allows for an exchange of information relating not only to fraud but also in respect to the avoidance of taxes covered by the treaty. Local company registration agents do not have to keep specific details on beneficial owners but the likely introduction of a Manx version of the British Criminal Justice Act will result in a significantly higher legal 'duty of care' to be placed on bankers and other professionals.

Nevertheless, the fact that banks or company registration agents do not have to automatically provide beneficial ownership details to the regulatory bodies means that relatively good confidentiality can be maintained for most legitimate transactions.

Bank & Jurisdiction Confidentiality Rating: 3 Stars

Bank System Rating: 5 Stars

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