Benefits: Taxation & Company Formation

Ship owners, managers and charterers may take advantage of the favourable Isle of Man taxation regime designed to encourage and support shipping business.

Currently, there are 6 basic entities which are capable of being used in an effective tax planning strategy involving the Isle of Man (see links for further information from Isle of Man Treasury website):

• Isle of Man tax exempt company
• Isle of Man international company
• Isle of Man international limited partnership
• Isle of Man non-resident company
• Isle of Man resident company
• Isle of Man tax exempt trust

For a full review of the Isle of Man tax regime visit the Isle of Man Treasury website. The Island's tax strategy provides for a zero rate of corporation tax applicable to shipping related earnings as well as a number of other benefits making the Isle of Man a cost effective centre in which to undertake shipping business.