Valsen Corporate

Isle of Man Trust

  • The Isle of Man law of trusts is based on English law. In addition, being a common law jurisdiction, there is a considerable amount of case law (mainly English) which is persuasive authority for the Manx courts. The distinctions between English law and Manx trust law arise principally from the fact that the Isle of Man has not adopted certain provisions of English trust law, for example, those relating to restrictions on accumulation of income. Appeal from the Isle of Man courts is to the Privy Council in London.

    Key Features

    Isle of Man International Trust

    Corporate Details

    General
    • Type of entity

    International Trust
    • Type of law

    Follow English law
    • Legal Framework

    Isle of Man Trusts Act 1995
    • Our time to establish a Trust

    2 weeks
    • Taxation of trust assets

    None
    • Double Taxation Treaty access

    No
    • Change of Domicile permitted

    Yes
    • Duration

    150 years
    • Restriction on Investment of Trust asset

    No
    • Succession

    As per Trust Deed

    Settlor
    • Requirements

    Should not be a resident of Isle of Man
    • Qualifications

    A trustee, a beneficiary or a protector of the trust.

    Beneficiary

    • Requirements

    Should not be a resident of Isle of Man
    • Qualifications

    A trustee, a beneficiary or a protector of the trust.
    • Property

    Should not include immovable property situated in the Isle of Man
    • Forced heirship applicable

    No

    Trust asset
    • Restriction on type/amount

    No, except property situated Isle of Man

     Trustee   
    • Minimum number

    1 if corporate and 2 or more if not corporate
    • Qualification

    No domestic trustee is required

    Accounts
    • Requirement to file

    No
    • Publicly accessible

    No