 |
 |
 |
 |
|
|||||
|
The Isle of Man The Isle of Man Isle of Man Latest News Isle of Man History Manx Government Manx Legislature Offshore Low Tax Banking on Isle of Man Manx Property Manx Sport Isle of Man TT Isle of Man Tourism Isle of Man Hotels Isle of Man Ferries Manx Cats Isle of Man Maps Isle of Man Towns Isle of Man Flags Isle of Man Coins Useful Contacts Isle of Man Plus... Isle of Man IN DEPTH Isle of Man Site Map Isle of Man Articles Other Low Tax Islands Bahamas Cayman Islands |
The Isle of Man as an Offshore Tax HavenThere are many legitimate uses of Offshore Low Tax areas. The main one, of course, is to minimize or avoid high tax rates in the investor's home country.The Isle of Man is an internally self-governing dependent territory of the Crown that is not part of the United Kingdom.The Isle of Man has a large and sophisticated financial centre with a reputation for regulatory regimes which meet all current international standards, but which offer a flexible and non-bureaucratic approach. As of 30 September 2004, the IOM’s financial industry consisted of approximately 19 life insurance companies, 25 insurance managers, more than 177 captive insurance companies, 53 licensed banks and two licensed building societies, 82 investment business license holders and 164 collective investment schemes Overview Located in the centre of the British Isles, in the Irish Sea, the Isle of Man is an internally self-governing dependent territory of the Crown that is not part of the United Kingdom. Tynwald, the island’s 1000 year old Parliament, makes its own laws and oversees all internal administration, fiscal and social policies. Offshore banking, manufacturing and tourism are key sectors of the island’s economy which has undergone major changes to its structure over the last two decades. The Manx Government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off leading to a well-balanced economy. Banking now contributes about 45% to the Manx gross national product. |
|
|||||||
|
|||||||||
 |
The Isle of Man (IOM) has a large and sophisticated financial centre with a reputation for regulatory regimes which meet all current international standards, but which offer a flexible and non-bureaucratic approach. Since 1999 consumer interest in the IOM has been intensifying and as a result it is growing on average at a rate of 12% per annum. As of 30 September 2004, the IOM’s financial industry consisted of approximately 19 life insurance companies, 25 insurance managers, more than 177 captive insurance companies, more than £ 17.2 billion in life insurance funds and £ 5.6 billion in non-life insurance funds under management, 53 licensed banks and two licensed building societies, 82 investment business license holders, and 164 collective investment schemes with £ 6.5 billion of funds under management. There are also 171 licensed corporate service providers, with approximately another seven seeking licenses. The island's banking industry is dominated by subsidiaries or branches of the main UK clearing banks and some foreign banks. The majority of banks in the IOM are engaged in providing private banking services to UK expatriates and to foreign nationals. The services offered often extend beyond deposit taking to establishing and administering trusts and managing the underlying companies and assets held by those trusts, including investment management. The IOM Financial Supervision Commission’s annual report for 2004-05 showed an increase in bank deposits of 16.4% to £ 33.08 billion from £ 28.42 billion in the previous year. This figure includes a 19.3% increase in sterling deposits and a 9.1% increase in non-sterling. During the same period there was a 17% increase in funds managed or administered from the island. As a UK crown dependency the IOM’s relationship with the EU is defined by a protocol attached to the UK’s membership. The IOM is not a member state of the European Union, nor is it an associate member. Under protocol 3 to the EU Act of Accession, the IOM is part of the customs territory of the Union for the purpose of trade in industrial and agricultural products but is not subject to any directives or regulations, including those dealing with harmonisation of taxation, financial services, exchange of information or social policy. The 2000 Financial Stability Forum's report on offshore financial centres and their effect on global financial stability rated the IOM as having good supervisory practices and levels of co-operation and placed it in the first division of offshore centres, along with jurisdictions such as Hong Kong and Singapore and ahead of jurisdictions such as Jersey, Guernsey, Bermuda and the Cayman Islands. The Island's positive image has been further reinforced by Moody's and Standard & Poor's "AAA" accreditation. Business Environment The Financial Supervision Commission (FSC) is an independent statutory body which licenses and supervises all banks, investment businesses, collective investment schemes and building societies. The FSC is also responsible for the companies registry and has introduced a regulatory regime for corporate services providers. In 2005, the FSC is expected to become the regulatory body for trust service providers. The Insurance and Pensions Authority (IPA) is responsible for the licensing and supervision of insurance companies and insurance intermediaries On 8th March 2005, the Fiduciary Services Bill 2004 was completed by the IOM Government and is now awaiting Royal Assent after passing through the House of Keys and Legislative Council. The Bill extends the Corporate Service Providers Act 2000 to cover Trust Service Providers so that anyone who provides trust services in the Isle of Man as a business will be required to hold a licence. The new regime will affect professional trustees and trust administrators but not those who act in a private capacity. Companies are deemed resident if central management and control is exercised on the island. Offshore companies may set up as exempt companies or international companies or partnerships if the beneficial interest belongs to non-residents, and do not carry on business or have a source of income in the IOM other than with other international companies and international limited partnerships. An exempt company must have a resident director and secretary and is able to undertake any trade or business, at or from, any premises in the IOM but cannot be engaged in prescribed activities, which include manufacturing, retail, wholesale, distribution or transport, construction, land development, fishing, mining, or agriculture. An exempt company may not be a public company (other than an exempt scheme), a bank or an insurance company . The Companies, Etc. (Amendment) Act 2003 received Royal Assent on 9 December 2003. A provision that took effect in December 2003 calls for additional supervision for all licensable businesses, e.g., banking, investment, insurance and corporate service providers. International business companies and limited partnerships are formed under the International Business Act 1994 (as amended). They have the same features as an exempt company. However, an international company can be a public company. An international limited partnership is made up of a general partner and one or more limited partners. The partnership must be registered under the Partnership Act 1909. The general partner must be a company other than one prescribed, which is resident, and has a place of business in the IOM. At least one director and the secretary must also be resident in the IOM. Limited partners, other than those which are international companies, must be resident outside the IOM and not conduct any trade or business other than those prescribed. In August, The Isle of Man's Treasury issued a consultative document for a new Manx corporate vehicle to make it more attractive for businesses to set up in the island. It is hoped that this new vehicle can be introduced as early as 2006. The document states: 'The steering group has had discussions informally with, and input from, a variety of individuals and organisations involved in the legal and corporate service sectors. As a result of which, it has become apparent that the need to create a modern Isle of Man corporate vehicle is now most urgent.' It adds: 'Since a full scale review and amendment of the Companies Act 1931-2004 would be an extremely lengthy exercise, it was felt that the most appropriate and immediate method to achieve the desired product would be to introduce a separate, largely stand-alone, piece of legislation allowing for a new type of Manx company, which would co-exist with the present and future companies incorporated under the CA 1931-2004.' The new structure is aiming to remove the compulsory need to have directors and company secretaries based in the Island, remove the need, in some cases, for annual returns and remove the requirement for overseas companies to register here if they are being administered by a Corporate Service Provider (CSP). The document states: 'The conclusions to date are that corporate directors should be permitted within certain limitations, annual returns should only be required for companies undertaking business locally, and that the provision of corporate administration services to an overseas company should not result in a place of business being established in the Island.' He added: 'The FSC feel there may be some issues about the fact that we are moving down the value chain by not increasing the legislation requirement and if anything we are going the other way. That, perhaps, is contradictory to the way a lot of the regulatory environments are going, but our argument is that we do have such a strong regulatory regime, that we can have a more ordinary, accepted corporate legislation. 'For some time the CSP industry had been concerned that the existing product was not "ageing well" and that the Isle of Man might be losing out to other more "business-friendly" jurisdictions, such as the British Virgin Islands. 'Establishing a new corporate vehicle that is practical and easy to administer will not only endorse the Island's status as a world class offshore jurisdiction, but also provide a welcome boost to the local CSP industry and serve as a catalyst to encourage growth in many other areas of the Island's finance sector.' There appears to be a wide measure of acceptance that a new corporate vehicle (commonly described as an NMV) is required. However, others in the finance sector fear that the new proposals may be implemented in haste without proper consideration of the full consequences to the Island's reputation. The consultation period is set to finish at the end of September 2005. In addition, under the present regime entities may be registered under the Limited Liability Companies Act 1996, which confers tax exemption on similar lines to the international limited partnership. Trusts fall under the Trustee Act 1961, the Variation of Trusts Act 1961 and the Perpetuities and Accumulations Act 1968. Banks are subject to licensing and supervision under the Banking Act 1998, as amended. Insurance business is controlled by the Insurance Act 1986 and regulations. Individuals carrying on investment business either in the Isle of Man or through a Manx incorporated company are required to hold a licence under the Investment Business Acts 1991 to 1993. Collective investment schemes fall under the Financial Supervision Act 1988, which provides for the regulation of three main classes: (1) Authorised collective investment schemes can be sold to residents, the UK, Guernsey, Jersey, Ireland and Japan and benefit from the fast track approval procedures in Hong Kong; (2) Professional investor fund; (3’) Experienced investor fund. The G-7’s Financial Stability Forum rated the Isle of Man a ‘group one’ offshore financial centre deemed to be under ‘good quality’ supervision. However, the OECD listed the island as among 35 jurisdictions that could face punitive measures over ‘harmful tax competition’. In response the Isle of Man signed a letter of commitment in December 2002 with the Organisation for Economic Co-operation and Development agreeing to exchange information with overseas authorities in criminal tax matters by 31 December 2003 and in civil tax matters by 31 December 2005. The Isle of Man was not blacklisted in the Financial Action Task Force report on jurisdiction's deemed to be 'uncooperative' in fighting money laundering. In November 2003, the Government of the IOM published the full report made by the International Monetary Fund (IMF) following its examination of the regulation and supervision of the IOM’s financial sector. In this report the IMF commends the IOM for its robust regulatory regime. The IMF found that "the financial regulatory and supervisory system of the Isle of Man complies well with the assessed international standards." The report concludes the Isle of Man fully meets international standards in areas such as banking, insurance, securities, anti-money laundering, and combating the financing of terrorism. Taxes The Isle of Man does not have any capital gains tax, wealth tax or inheritance tax. The jurisdiction levies income tax, a national insurance tax, a form of property tax and value-added tax (VAT). The Income Tax Acts 1970 to 2000 supported by orders and regulations deal with the income tax liability of resident and non-resident persons. The definition of 'person' includes any association of persons, corporate or unincorporated. The Income Tax (Exempt Companies) Act 1984 grants exemption from income tax for a year of assessment to companies owned by non-residents carrying on approved activities. The International Business Act 1994 allows a Manx resident company to apply to be assessed to Manx income tax as an 'international company' on the whole or part of its income for a year of assessment and to elect for a rate of tax to apply up to maximum of 35%. The act also provides for 'international limited partnership' status, which allows non-resident limited partners exemption from income tax for a year of assessment for income received from the partnership. The Limited Liability Companies Act 1996 allows the creation of 'international limited liability companies' and 'other limited liability companies'. Limited liability companies are treated as partnerships for income tax purposes and members as partners. An international limited liability company is exempt from Manx income tax. Partners in other limited liability companies are assessed income tax on their share of the profits. The Isle of Man is the only offshore centre in the EU's value added tax regime. Most companies with a turnover of £55,000 or more are required to register for VAT, charged at 17.5% on most sales. The main employment tax is national insurance and is levied at a rate of 11.8% on earnings above £89 per week. The income tax standard rate for individuals is 10%, with a maximum rate of 18%. The Isle of Man only has one tax treaty, which was entered into with the UK in 1955 and is very similar to the equivalent agreements between the UK and Jersey and Guernsey. The agreement specifically excludes dividends and debenture interest from its provisions. Exempt companies, International Companies and International Limited Partnerships are not entitled to the benefits of the treaty. The IOM is in negotiations with 10 countries with a view to concluding Tax Information Exchange Agreements with them. The government has stated however that none will be finalised unless they are able to negotiate mutual economic benefits for IOM. Although the IOM is not part of the EU, it has voluntarily agreed to apply a withholding tax instead of an automatic exchange of information under the new EU Saving Tax Directive which came into force on 1 July 2005. No information is exchanged where the withholding tax is applied although customers will generally be given the option to elect for exchange of information in order to receive their interest payments gross. The rate of tax to be applied to the interest payment will be 15%. After three years this will increase to 20% and finally after a further three years it will increase to 35%. In October 2002, Tynwald approved modifications to the Island’s Taxation Strategy. This was in response to c riticism levied by the EU (through the Primarolo Report) and the OECD (through the harmful tax competition initiative) at the island's use of ring-fenced regimes. The island's solution to this criticism was to commit to remove all ring-fenced regimes and, in their place, introduce a zero-rate corporate tax by 6 April 2006. The island is on course to achieve this and the replacement regime has been accepted by the UK, EU and the OECD as being neither harmful nor in breach of perceived norms of international taxation. The modifications were designed to achieve a uniform tax system for the whole business sector. The zero tax will apply to all businesses, whether local or international, regulated or unregulated, with one important exception - banks. Banking business will be taxed at a 10 per cent rate. A move towards a zero rate began with its introduction for shipping, insurance and fund management in 2003 and from 6 April 2005 the trading income of companies in the agriculture, fishing, manufacturing, E-gaming, tourist accommodation and film and television production sectors also became subject to a zero percent rate of tax. Subject to economic conditions, the 2005 Budget announced that it remains Treasury’s intention to introduce the zero rate for almost all companies by 6 April 2006. It was further announced in the 2005 Budget that IOM’s Taxation Strategy will be completed by the introduction of a new corporate tax system which will simplify the tax treatment of companies in line with the introduction of the current year basis of assessment for the taxpayer by April 2007. Although the use of offshore low tax areas to avoid, defer or minimize tax is perfectly legal, the use of such havens to evade tax is not. Since the line between legitimate tax avoidance and illegal tax evasion is often hazy, professional tax advice should always be sought before deciding to place capital offshore. In choosing an offshore low tax area, there are many factors that should be considered, some of which are:
The Isle of Man Financial Supervision Commission is committed to adhering to principles of regulation accepted in leading international financial centres, whilst also striving to maintain a level playing field with other jurisdictions. Indeed, its high but flexible standards of regulation over many years has done much to enhance the Island’s reputation internationally. The Commission will ensure that its regulatory approach is realistic and pragmatic, at the same time as taking full account of international standards as they continue to evolve. This is evidenced by the Commission’s current work in renewing and consolidating all its regulatory legislation to make it more user friendly and in the development of a regulatory regime for e-money businesses The term 'offshore' is not used in Isle of Man legislation or in describing company forms. Non-residence is the key criterion for obtaining offshore tax treatment other than for the International Company and Exempt Company, which are regarded as being resident. The main forms useful for offshore operations in the Isle of Man are the Exempt Company, the International Business, the International Limited Partnership, the Limited Liability Company (LLC) and the Trust. Normally, non-resident tax treatment is given to foreign income, while income arising in the Isle of Man is taxed more highly. Britain's three IOFCs, Jersey, Guernsey and the Isle of Man have developed in different ways. The Isle of Man is not dominated by any one particularly activity, but has across-the-board strength in the financial sector, with substantial business in banking, fund management and captive insurance. The Isle of Man has also encouraged manufacturing and trading operations, which can be fiscally offshore while staying within the EU's VAT regime. The island's trust sector is long-established and has a solid backing of law firms, trust managers and advisory practises. The Isle of Man has instituted a favourable regime for ship management but this sector has not shown very fast growth. The Island is currently undergoing a major reform package for the Island's fund industry. Key measures included: A zero tax rate for all third party fund administrators, and for Managers of EIFs and PIFs - representing an extension of the existing zero rate tax regime on fund managers' profits to both fund administrators and to managers of Experienced and Professional Investor Funds; VAT Exemption for Experienced and Professional Investor Funds - representing an extension of the VAT exemption on management fees. Overseas Funds Exemption in the context of Isle of Man regulation - such that an overseas fund may be administered in the Isle of Man without "dual regulation" where it is incorporated in a jurisdiction having an appropriate regulatory framework. The Isle of Man has been an offshore haven for many years and as a direct result has a highly sophisticated structure of compliance and control in place to protect investors and those who have interests in the Isle of Man, this provides massive investor confidence and has resulted in the island becoming one of the safest and most attractive worldwide tax havens. In terms of the taxation benefits of investing or incorporating in the Isle of Man, they are impressive and manifold. There are no capital gains taxes, turnover taxes or capital transfer taxes and there is no stamp duty. There is VAT and income tax however but the latter is levied at a maximum rate of 18% and the government are reducing this rate of tax all the time. The current lowest rate of tax is just 10% and the income tax burden on corporations is zero. In May 2006 Isle of Man was selected as the 'best international financial services centre' for the the sixth consecutive year by International Investment magazine, a leading UK offshore publication. "This prestigious award recognises the Isle of Man’s strength as a leading jurisdiction of choice," stated a delighted Alan Bell, the Isle of Man Treasury Minister. According to the Manx government, the International Investment Fund & Product Awards are viewed as the most high-profile and prestigious awards ceremony for the offshore world. They took place at the Victoria Park Plaza Hotel, London on the evening of Wednesday 10th May, and were attended by more than 300 leading financial services providers. "The Island is maintaining a competitive edge by pursuing the economic, social and fiscal strategies that have stood us in good stead over the last five years. We are also delighted that the financial services industry has been recognised by the awards to Isle of Man-based companies," Mr Bell added. Isle of Man-based companies won nine awards out of a total 14 award categories in this year’s International Investment Fund and Product Awards, and in four awards a further five local companies were highly commended. Notably, Royal Skandia were declared winners in three categories and were highly commended in one other, while Fairbain Private Bank were declared winners of two awards and were highly commended in one other. The other Island winners include Singer and Friedlander (Isle of Man) Limited, Bank of Ireland (I.O.M.) Ltd and Hansard Group. The strength of the Isle of Man as a leading finance centre has also been recognised by Financial Times publication, The Banker, when it was named European Winner of its Financial Centres of the Future 2005 in November 2005 Key Contacts Financial Supervision Commission PO Box 58 Finch Hill House Douglas, Isle of Man IM99 1DT Tel: supervision division 44 (0)1624 689317 enforcement division 44 (0)1624 689314 companies division 44 (0)1624 689336 companies registry 44 (0)1624 689300 policy division 44 (0)1624 689336 operations division 44 (0)1624 689300 Fax: 44 (0)1624 689399 for chief executive, operations and enforcement divisions 44 (0)1624 689398 for supervision, companies and policy divisions 44 (0)1624-689397 for companies registry. Email: info@fsc.gov.im Internet: www.fsc.gov.im Department of Trade and Industry Illiam Dhone House 2 Circular Road Douglas, Isle of Man IM1 1PQ, British Isles Tel: +44 (0)1624 685675 Fax: +44 (0)1624 685683 Email: dti@gov.im Internet: www.gov.im/dti Key Stats Country Description: The Isle of Man is a UK crown colony or dependency. Population: 78,084 (March 2005) Capital: Douglas. The United Kingdom government in Westminster may legislate, with consultation, on behalf of the Isle of Man on matters relating to defence, foreign policy and broadcasting. Isle of Man residents are British citizens. Currency: The Isle of Man pound is at par with the British pound. British pounds are freely accepted. Legal System: Based on British law and local statute, with significant differences in legislation relating to direct taxation, company law and financial supervision. The Isle of Man has a High Court (composed of the Chancery Division, the Common Law Division, and the Family Division), the Court of General Gaol Delivery (deals with criminal proceedings), and the summary courts (includes the High Bailiffs Court, Deputy High Bailiffs Court and the Magistrates Court). Final appeal is to the London Privy Council. High Court justices are appointed by the Lord Chancellor of England on the nomination of the lieutenant governor. Lawyers in the Isle of Man are known as advocates and combine the roles of solicitors and barristers in England. Government: The head of state is the British monarch (Queen Elizabeth II) who is represented by a lieutenant-governor. The political head of government is the chief minister (Donald Gelling as of December 2004), who appoints a cabinet called the Council of Ministers. The island’s bi-cameral parliament is called the Tynwald and is made up of the 24-member House of Keys, directly elected for five years, and the 11-member Legislative Council. Elections are by the relative majority or 'first past the post' system. There are 15 constituencies. Two constituencies are each represented by three members. Two constituencies have two members each. The chief minister is chosen by the House of Keys from among its members. The Legislative Council is made up of three ex officio members and eight elected members from the House of Keys. The president of the Tynwald is elected by the members of Tynwald from amongst their number and he sits ex officio as the president of the Legislative Council. As the presiding officer the president has a casting vote in cases of a tied vote. The other two ex officio members of the Legislative Council are the Lord Bishop of Sodor and Man, who has a vote, and the attorney general, who does not. The remaining eight members of the Legislative Council are elected by the House of Keys from among their members. By convention bills are considered first in the House of Keys and then in the Legislative Council. Legislation, once passed by the Tynwald, is sent to the Privy Council for royal assent, or, now more commonly, by the lieutenant governor. UK acts of parliament only apply to the island if the Tynwald expressly agrees that they should do so. Economy: GDP by sector: Finance 41%, professional and scientific services 15%, construction 7%, tourist industry 6%, manufacturing 6%, public administration 4%, agriculture and fisheries 1%, other services 18%. Total deposit base (end-2002): £27.8 billion. Gross Domestic Product (2002) 5.3% real GDP growth, £972.73 million at current market prices. Gross national product: £1.03 billion at current market prices. Inflation Rate: 5.9% in 2004 but down to 3.7% in June 2005 Labour Force ( February, 2005): Economically active: 39,700 of which 23% work in insurance, banking and finance and business services. Unemployment: 1.3% Government Accounts: In the February 2005 Budget gross revenue expenditure was estimated for 2005/6 to be £725 million an increase of £43.5million on the figure for 2004/5. There was a budget surplus of £9.1 million for 2004/5 and an estimated surplus of £11.7 million for 2005/6. Financial year: April–March. Time Zone GMT. The clock goes forward 1 hour at 1 am on the last Sunday in March and back to normal time at 1 am on the last Sunday in October. For more in-depth information, the following links may be useful... Allied Dunbar Bank International Ltd. - Allied Dunbar Bank International Ltd. - The Allied Dunbar International Group of companies provides a range of investment and banking services for investors who need a financial base outside the United Kingdom. Anglo Irish Bank Corporation plc - Anglo Irish Bank Corporation plc - Anglo Irish Bank was founded in 1964 and became a publicly quoted company in 1971. Barclays Private Bank & Trust (IOM) Ltd. - Barclays Private Bank & Trust (IOM) Ltd. - Provides a comprehensive range of Banking, Investment, Fiduciary and Advisory services to wealthy indiduals & their families. Belgravia Financial Services Limited - Belgravia Financial Services Limited - On line Personal Financial Planning for expatriates. Advice on Life & Health Insurance, Savings and Investments. Financial Reporting Service, up to date values of savings and investments. Licensed to conduct Investment Business by the Isle of Man Financial Supervision Commission. City Financial Services Ltd - City Financial services Ltd - "CFS are a licensed advisory firm based in the Isle of Man and provide a 'one stop shop' for all offshore financial services including offshore Banking, investments, pensions, savings and life cover & dread disease cover. CFS also specialise in the construction of offshore occupational pension schemes." City Trust - City Trust - Our clients and potential clients fall into two distinct groups; professional advisers and private individuals. We understand that the two groups usually have different questions and have attempted to make matters simpler by having two sections. We offer services to both private clients and professional advisers. Close Bank (Isle of Man) Ltd. - Close Bank (Isle of Man) Ltd. - Provides a comprehensive range of private banking services, including call and fixed deposit accounts in all currencies. Also provides discretionary investment management and trust and company administration. Coutts (Isle of Man) Ltd. - Coutts (Isle of Man) Ltd. - Offshore private banking, arm of the Royal Bank of Scotland Group. Offering an extensive range of portfolio management services, foreign exchange and cash deposits advice and innovative investment products. Derbyshire (Isle of Man) Limited - Derbyshire (Isle of Man) Limited - The Derbyshire (Isle of Man) Limited is a wholly owned subsidiary of the Derbyshire Building Society, which was established over 140 years ago and is one of the top ten societies in the UK. We are incorporated in and run from the Isle of Man, where we are registered with and regulated by the Isle of Man Financial Supervision Commission. Duncan & Lawrie Ltd. - Duncan & Lawrie Ltd. - Provides Banking, Investment and Corporate Services (through an affiliate) to private clients in a discreet but effecient manner. Electronic Financial Services Limited - Electronic Financial Services Limited - We specialise in providing company incorporation services and are one of the foremost and most economical providers of information on company formation and incorporation services. Ernst & Young - Ernst & Young - They provide specialist services for international and offshore tax planning, trusts, asset protection and offshore e-commerce. A feature of the site is the TaxOmeter, an interactive multi-jurisdiction Income Tax calculator. Fedelta Group, The - Fedelta Group, The - "If we see no commercially sensible, cost effective, solutions, we shall say so without prevarication and without charge." Providing offshore tax planning structures, trust creation and trusteeship, managed companies, pension scheme establishment, trusteeship and transfer. Fortress Management Services Ltd - Fortress Management Services Ltd - can assist with the establishment and ongoing administration of Offshore Trusts and Asset Protection Trusts and with the establishment and ongoing administration of a wide range of offshore companies incorporated in all the major jurisdictions around the world. International Company Services Limited - International Company Services Limited - "International Company Services Limited was incorporated under the laws of the Isle of Man in 1977 and since then it has provided incorporation, domiciliary, administrative and management services to thousands of companies formed in major countries and in most offshore areas throughout the world." Irish Nationwide (I.O.M.) Limited - Irish Nationwide (I.O.M.) Limited - Irish Nationwide Bank (Isle Of Man ) Limited Isle of Man Financial Services Directory - Isle of Man Financial Services Directory - Directory - Provides street addresses & telephone numbers of offshore accountants, banks, lawyers, trust companies, investment managers and insurance companies in the the Isle of Man - Also has information on other jurisdictions. Lorne House Trust Ltd - Lorne House Trust Ltd - Lorne House Trust Limited was established in the Isle of Man in 1982 as a portfolio, trust and corporate management company. Quote: "In many ways it [Lorne House] corresponds to the popular conception of a private bank, although we refer all activities which require a banking license to other, appropriately licensed institutions. We are licensed to manage private investment portfolios by the Financial Supervision Commission ('FSC') of the Isle of Man Government. The company is wholly owned by its directors and staff." Simcocks Advocates & Notaries - Simcocks Advocates & Notaries - Simcocks provide a wide range of corporate legal services and represent both large, established, institutions and small businesses. Corporate matters handled by the Commercial Department at Simcocks include the acquisition and disposal of business undertakings, amalgamation and reconstruction of companies, the floatation of new companies and a full company formation service - from off-the-shelf companies to the establishment of more complicated bespoke structures. The Department also handles the creation of limited and general partnerships, financial agreements and all matters relating to employment law. Singer & Friedlander Group PLC - Singer & Friedlander Group PLC - Singer & Friedlander Group PLC is an independent financial services group comprising, primarily, companies involved in merchant banking, investment management, property and stockbroking. Ulster Bank (Isle of Man) Ltd - Ulster Bank (Isle of Man) Ltd - Ulster Bank (Isle of Man) Limited is a wholly owned subsidiary of Ulster Bank Limited, which in turn is a member of the Royal Bank of Scotland Group - one of the world's largest banking organisations. Walbrook Group of Companies - Walbrook Group of Companies - The Walbrook Group of companies is the offshore services subsidiary of Deloitte & Touche. that has a presence in each of the offshore offices - the Isle of Man, Jersey and Guernsey. Westwinds Offshore Services Limited - Westwinds Offshore Services Limited - Westwinds Offshore Services Limited provides Offshore Company and Trust Administration services. |
||||||||
| |||||||||
