Contact: James McKenna
As a modern Finance Centre the Isle of Man provides a wide variety of legal structures for businesses & individuals, including 1931 & 2006 Act Companies, Foundations, Trusts & Limited Partnerships.
Historically 1931 Companies were the only option for those looking to incorporate their business, but more recently clients have opted for the flexibility that 2006 Act Companies can offer, and for some clients looking to incorporate whilst simplifying regulation, an Isle of Man Limited Liability Company (“LLC”) can be a viable alternative.
Originally popular in the USA and offering many advantages for small businesses over sole traders or 1931 Act Companies, the LLC was established on the Isle of Man in 1996 as a hybrid structure bringing in attributes of both a Company and a Partnership.
