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| INTRODUCTION |
The Isle of Man is located in the northern portion of the Irish Sea between The United Kingdom and Ireland. The island is well-known as a financial center. Population is 35,000.
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| LAW AND TAXATION |
The Isle of Man's legal system is based on Manx law, English common law, Isle of Man statutory laws and certain Acts from the United Kingdom. The Isle of Man's taxation and legal system are completely independent from the United Kingdoms.
It is independent from the United Kingdom and is a self-governing body except when it comes to international relations where the UK takes responsibility. All legislation passed by the Tynwald (island's legislative assembly) is subject to Royal Assent, granted by the Lieutenant Governor who acts as the monarchs' representative.
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| CORPORATE REQUIREMENTS |
Companies in the Isle of Man are formed under the Companies Act of
1931 to 1993 and may be a company limited by shares, limited by the
guarantee or an unlimited company. The Isle of Man recognizes registration for Non-Resident Companies Exempt Companies, International Companies and Limited Liability Companies for non-Isle of Man business.
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| LOCAL INFRASTRUCTURE |
All major banks in the United Kingdom are represented on the Isle of Man. A banking Supervisor monitors compliance requirements and relevant banking legislation.
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