Dixcart Isle of Man Office
Isle of Man – an attractive and efficient jurisdiction for company management, estate and succession planning, and the management of luxury assets.
Welcome to Dixcart Isle of Man
Dixcart Management (IOM) Limited has been delivering Isle of Man offshore services to clients and their advisers for over 30 years. Our suite of offshore services particularly cater for almost any wealth planning or corporate planning needs, and includes Company Management Services, Registered Office / Registered Agent Services, Trust and Foundation Services. Here is a helpful overview of Dixcart Management (IOM) Limited and its offshore services.
Isle of Man Services
The Isle of Man offers individuals and corporate bodies a broad range of incorporated vehicles, including:
Incorporated entities that are Tax Resident in the Isle of Man subsequently enjoy a zero rate of tax on trading, Capital Gains and investment income.
We assist clients seeking to incorporate an offshore entity in the Isle of Man and abroad, whether it’s for carrying out international business, offshore investment, ringfence liability, conduct financing or holding companies – we work with professional advisers to provide bespoke offshore corporate structuring solutions.
Broadly, clients have two choices, which will be governed by their objectives and the tax advice they have received. For example:
Where we provide Directors, we can give the entity a real Board presence on the Island, ensuring that management and control takes place on the Isle of Man. The company management services can include functions such as compliance, banking, accounting, acting as tax or VAT agent, advising on statutory obligations and the economic substance requirements of Isle of Man entity.
You can find out more about Isle of Man companies and our Director services here.
Registered Office & Registered Agent
Where the client’s objectives and tax planning allow, we can provide Isle of Man entities with Registered Office and Registered Agent services. This includes administration support that meets the requirements of these roles, such as providing a registered correspondence address and maintenance of registers. We have produced an extensive article on Registered Office & Registered Agent services that you can read here.
Alternatively, you can find out more about our Registered Office and Registered Agent only services here, in this helpful overview.
The Isle of Man is part of the UK for VAT purposes. A company that is VAT registered in the Isle of Man will be subject to the UK VAT regime. We benefit from a good working relationship with the Isle of Man VAT office, which means that items such as registration, processing and communications can be far more proactive.
Estate Planning & Succession Planning
The Isle of Man offers a robust legislative and common law regime which can be attractive to wealthy families seeking a stable and well-regulated base for their financial planning. The tax efficient vehicles available and our expertise mean that our Isle of Man office is ideally placed to assist with both succession and estate planning – using offshore companies, offshore trusts and offshore foundations to meet your planning needs.
Trust law in the Isle of Man is well established and largely based on the law of England and Wales – but Manx trusts are allowed to accumulate interest without restriction and can continue in perpetuity.
We have produced a series on Offshore Trusts that gives a great overview for those wishing to find out more:
- Offshore Trusts: An Introduction
- Offshore Trusts: Types and Uses
- Offshore Trusts: Misunderstandings, Pitfalls and Solutions
There is no Isle of Man taxation on trusts formed by non-resident individuals for the benefit of non-resident beneficiaries. Dixcart is experienced in the establishment and administration of trusts.
The role of trustee can be complex and time-consuming with fiduciary duties owed to both the trust and its beneficiaries. Unlike UK trustees, an Isle of Man professional trustee such as Dixcart is regulated. Furthermore, as a professional trustee, we offer clients and advisers peace of mind, ensuring our technical knowledge and best practices aid the administration and help with achieving the trust’s objectives.
You can find out more about Isle of Man Trust services here.
The Isle of Man foundation offers distinct features that differ from those available from the more traditional trust or private company. One of the main distinctions to be drawn is the foundation’s legal personality, whilst also not being linked to shares – As such, the foundation has the capacity to enter into contract, own property and take legal action in its own right, whilst not having a duty to shareholders that exists in a limited company setting.
We have produced a series on Isle of Man foundations that gives a great overview for those wishing to find out more:
- Isle of Man Foundations for Offshore Planning – An Introduction
- Establishing and Administering an Isle of Man Foundation
- When to use an Isle of Man Foundation
As with the role of trustee, acting as council member can be complex and time-consuming. We are well placed to assist with the incorporation and ongoing administration of an Isle of Man foundation, including acting as council members.
You can find out more about Isle of Man Foundation services here.
Trust / Foundation Hybrid structure
There are planning opportunities for using both a trust and foundation in a hybrid structure arrangement. For example, where a non-domiciled individual in the UK sets up an Isle of Man trust to benefit from their non-domicile status whilst in the UK, but plans on returning to a civil law jurisdiction – here the individual may seek to use a trust / foundation hybrid.
In this instance, the Isle of Man foundation may act as trustee, having legal ownership of the trust assets. The foundation being recognised as an effective estate planning vehicle in the civil law jurisdiction upon the individual’s return. This article is a valuable summary of the trust / foundation hybrid structure.
The Dixcart Isle of Man team has a significant amount of expertise in the management of assets and is therefore well placed to deliver offshore administrative services on residential property, commercial property, superyachts, aircraft and more – from purchase to disposal and everything in between.
The Island’s attractive tax regime and acceptance to being a jurisdiction of global compliance makes it a clear choice for those wishing to conduct international business here and to seek to mitigate corporate tax liabilities, ringfence risk and more.
Superyachts & Aircraft
With regards to superyacht and aircraft operation, we are very familiar with various registries around the world, including the Cayman Islands, Marshall Islands, Malta and of course the Isle of Man. We are lucky that the Island operates world class award winning registries – both the Isle of Man Ship Registry and Isle of Man Aircraft Registry. The regular use of various registries, the range of ownership structures available, our great working relationships with industry leading firms and our in-house experienced and qualified team, all mean that we can assist with any planning and structuring requirements.
The Isle of Man has been especially attractive for those seeking to charter their private craft within both Europe and elsewhere, benefiting from the Islands non-EU member status and various Customs exemptions or schemes available. For example, you can find out more about a Customs procedure available to private yachts chartering between EU member states in this article on yachting post-Brexit.
We have produced a short series on Superyacht planning that gives a great overview for those wishing to find out more:
- Planning for a Superyacht? Here is What you Need to Consider
- Superyacht Planning: Working Case Studies (2 of 2)
We deliver end-to-end assistance with regards to the offshore services required to bring your planning to fruition.
Why the Isle of Man?
The Isle of Man is rated Aa3 stable and is an independent Crown Dependency. Manx registered companies benefit from the business-friendly Government and locally set tax regime. Wealth management can be efficiently organised and the Isle of Man is featured on the OECD whitelist.
All Dixcart Offices
All Dixcart Offices
Isle of Man Information
Dixcart Management (IOM) Limited has over 30 years of experience in providing services to international clients, both companies and individuals, seeking to benefit from the organisation of their activities in the Isle of Man. Here is a helpful overview of our services: Dixcart Management (IOM) Limited – An Introduction.
P. A. Matthews BSc (Hons) FCCA FICA
S. Doyle ACIS
P. Harvey BA (Hons) TEP
M. Farror TEP MCSI
VAT Registration Number: GB 000 8920 15
Registered in Isle of Man
Company Number 45258
Dixcart Management (IOM) Limited is licensed by the Isle of Man Financial Services Authority