Isle of Man Limited Liability Company (LLC) has a membership structure and taxed in a similar manner to that of a partnership, with each member of the LLC paying tax on their share of the profits. However, the LLC is a separate legal entity whose members’ liability is limited to the amount of their capital contribution.
The right to manage the LLC is vested in the members themselves, in proportion to their contributions, although the members have the option of appointing a manager.
Key Features of Isle of Man LLC
|
Isle of Man LLC |
Corporate Details |
|
General |
|
|
LLC |
|
Yes |
|
No |
|
No |
|
Share capital or equivalent |
|
|
Manx Pound |
|
Any |
|
Directors |
|
|
1 |
|
No |
|
No |
|
Anywhere |
|
Yes |
|
Members |
|
|
1 |
|
Yes |
|
Yes |
|
Anywhere |
|
Accounts |
|
|
Yes |
|
No |
|
No |
|
No |
|
Others |
|
|
Yes |
Duration to set up the company
Around One month
Advantages of Isle of Man LLC
- The LLC is a legal entity with separate rights and liabilities distinct from its members and managers
- Members are not personally liable for the debts, obligations or liabilities of the LLC
- Members can fully participate in the management of the LLC
- Investment and Tax Planning
- No accounting/audit requirements
- Hold assets/ship ownership
- Hold IBCs, Trusts and Foundations
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.