Isle Of Man Company with Irish Headquarters

moneybees · 11-10-2015 03:12PM #1

Hi,

The standard rate of corporate income tax in the Isle of Man is 0% so I was just wondering if it is possible (and legal of course) to register an Isle of Man company and have headquarters here in Ireland while distributing our products to both ROI and UK?

What are the implications? What's involved in such set up?

Or could we have instead HQ in the UK and distribution centre here in Ireland?

Thank you all in advance for your input and advises.

CIARAN_BOYLE · 11-10-2015 03:53PM

theres a lot more to tax residency than where the company is incorporated.

you could be incorporated in the Isle of Man but still be resident in Ireland or the UK.

moneybees · 12-10-2015 07:59AM

Thanks Ciaran

So does that mean that it is legal to have a Isle of Man company and have HQ's in Ireland and sell to the UK market at the same time?

How does the tax rules work then? Are they applied from where the company is operating or incorporated?

You also mentioned resident in Ireland or UK... Let's say both directors are living in Ireland. Does that make any difference?

NewApproach · 12-10-2015 08:01AM

You should get professional advice

CIARAN_BOYLE · 12-10-2015 10:22AM

moneybees wrote: »

Thanks Ciaran

So does that mean that it is legal to have a Isle of Man company and have HQ's in Ireland and sell to the UK market at the same time?

How does the tax rules work then? Are they applied from where the company is operating or incorporated?

You also mentioned resident in Ireland or UK... Let's say both directors are living in Ireland. Does that make any difference?

Yes

It depends

Possibly

dogsears · 12-10-2015 08:32PM

If both directors are resident in Ireland and the HQ is in Ireland there is no tax inspector in the country who will accept that the company is resident anywhere but Ireland unless all directors meetings are held in the Isle of Man and you are able to establish that no decisions relating to company management etc are taken in Ireland. Place of incorporation will not make a difference to this.

A company that is resident in Ireland is subject to Corporation tax in Ireland.

dbran · 13-10-2015 03:36PM

You will need to have a registered office in the isle of man as well as appointing a "registered agent" who has to be approved beforehand by the Isle of Man Financial Supervision Commission. They generally tend to make Isle of Man companies very difficult to run and very expensive if you wish to actually trade with them anywhere else other then the Isle of Man. And good luck trying to open a bank account in Ireland with an offshore company.

dbran

Isle Of Man Company with Irish Headquarters

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