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Peel on the Isle of Man

Isle of Man

As detailed in our complete guide on register of overseas entities, the Economic Crime (Transparency and Enforcement) Act 2022 (the "Act") introduces a new register, the Register of Overseas Entities (“ROE”) to keep track of the UK property owned by overseas entities. The register includes the details of overseas entities and registrable beneficial owners.

Types of ISLE OF MAN Entities are required to register with the Companies House?

ISLE OF MAN Companies

The Isle of Man Companies Act 2006 offers guidance and instructions regarding the administration of limited companies and limited partnerships, as well as foundations, limited liability partnerships, funding submissions.

It allows for the alteration of share capital comprising shares with or without par value, as well as the application of enactments and rules of law to single member companies.

Additionally, it represents the gold-standard for international special purpose vehicles, sweeping away outdated concepts

  • Limited liability company;
  • Guarantee company;
  • Unlimited liability company;
  • Mixed liability company;
  • Protected cell company; and
  • Incorporated cell company.


The Trusts Act 1995 and the Trustee Act 1961 form the legal framework for trusts in the Isle of Man.

The Trusts Act enshrines principles aimed at protecting Isle of Man trusts from foreign legal systems, while the Trustee Act addresses administrative matters such as the investment powers of trustees, appointment and removal of trustees, and other related matters. Although there is no specific legislation for asset protection for Isle of Man trusts, the proper law of a trust is usually specified in the trust instrument,

Various Types of Trusts in Asset Management include:

  • Discretionary Trust
  • Fixed Interest Trust
  • Accumulation and maintenance trust
  • Purpose trust
  • Settlor reserved powers trust

ISLE OF MAN Limited Partnerships (LP)

In the Isle of Man, partnerships are regulated by the Partnership Act 1909. Limited Partnerships must be registered under the same act, otherwise they will be considered as general partnerships.

Limited Liability Partnerships (Isle of Man)

As mentioned above, the law governing limited liability partnerships in the Isle of Man is the Partnership Act 1909, which provides for two types of partnerships: general and limited.

The Limited Partnership Act 2011 and the Partnership Act 2012 also apply. Partnerships may be registered with a suffix to denote limited liabilities, such as LP, Incorporated or Inc. A non-resident partner is only liable to Manx income tax on income derived from Manx sources.

Types of UK Properties Owned by ISLE OF MAN Company Fall Under The Scope of ROE

The types of properties under the scope of ROE is slightly different based on the location of the property:

England & Wales

Following properties purchased on or after 1 January 1999:

  • Freehold properties
  • Leasehold properties with term longer than 7 years


Following properties purchased on or after 8 December 2014:

  • Registered plot of land
  • Tenancy on a registered lease

Northern Ireland

Following properties purchased on or after 1 August 2022:

  • Freehold properties
  • Leasehold properties with the term longer than 21 years

At UK Property Accountants, we have specialist ROE team who have dealt with a lot of Isle of Man entities and can get your overseas entities registered at speed.

If you are living in Isle of Man and involved in the UK Property and real estate, UK Property Accountants will provide expert UK tax and accounting solutions tailored to the residents of Isle of Man. The property taxes applicable in the UK is quite complex and can be very difficult to understand for Isle of Man based businesses and individuals. The UK tax system is drastically different from the tax system of Isle of Man.

Following are the most common forms of ownership structure commonly used by the investors and businesses based in Isle of Man for property ownership and property development projects:

  • UK limited company with residents of Isle of Man as shareholders
  • Private Limited Liability Company (LLC) registered in Isle of Man
  • Direct ownership by individual investors
  • Other complex structures such as trusts and entities based in Isle of Man

Tax experts and accountants at UK Property Accountants with experience and expertise in dealing with Isle of Man residents will be able to advise you on the best structure and execute the chosen structure. We also understand the reliefs and tax implication of the double taxation treaty between the UK and Isle of Man (UK/British Virgin Island Double Taxation Treaty) signed on 29 October 2008.