Often ‘management and control’ can be used as measure of where a company may be deemed to be resident or taxed, this can be determined as the place from where the majority of decisions are made and the Directors reside. If you have incorporated your company offshore, you should not risk the possibility of your company being deemed to be resident in a country other than that of its incorporation.
In line with many other offshore jurisdictions, the Isle of Man has recently enacted ‘Economic Substance Requirement’ legislation. This stipulates that Isle of Man companies undertaking certain activities are required to be managed and controlled from the Isle of Man in order to receive tax resident status on the Island.
Aston has excellent relations with s banks and investment houses on the Island and internationally. We will be able to receive preferential treatment and services for the opening and operating of these accounts. Some of these institutions will only provide services to an offshore company if a local licenced corporate service provider such as Aston provides directors or other significant level of control.
Take advantage of the wealth of knowledge and experience provided by our own staff and Directors for the administration and corporate governance of your company. We have many years’ experience of complex corporate transactions across a variety of sectors.
Additional levels of privacy can be achieved by requesting directors services from Aston. Sometimes it may be preferable and appropriate for you to be appointed as a director of the company and in these instances we can offer a simple incorporation, statutory administration and bookkeeping services. As part of our licencing requirements, we must undertake ongoing monitoring of the activities of the company but we can generally achieve this while undertaking the bookkeeping.