To Petro International Group Offshore Company Formation Jurisdiction Isle of Man Isle of Man IBC Only US$399 It may surprise you to learn that the number one reason for people moving money offshore is not because of tax benefits but asset protection. Today's predaceous and litigious society unfortunately makes successful people vulnerable to lawsuits of every kind.

Isle Of Man Bullet Proof Tax Haven

Imagine this, a company with only one shareholder, one director, able to issue bearer shares, Shareholder's meetings held anywhere worldwide by telephone, teleconferencing, proxy or not at all, no annual reports to be filed or disclosure requirements for the names of the shareholders or directors. There is only 0% tax on declared corporate profit in Isle of Man . Dividends to shareholders are tax free. Double tax treaties have been concluded between Isle of Man and 25 countries, Russia, Ukraine including. Offshore companies situated in Isle of Man may purchase various items for their own needs duty free. The owner of a Isle of Man off-shore company may remain anonymous using Petro International nominee services.

Isle Of Man, So Much To Offer

Unlike other offshore companies, our solutions are tailor-made to your needs

The economy lives with secrets and from secrets. Confidentiality is therefore an important prerequisite for the successful functioning of the economy. The duty of non-disclosure imposed upon banks is of special significance. The duty of confidentiality incumbent upon banks prohibits the release of all information which the bank has access to as a result of its client contacts. In Isle of Man bank secrecy is expressly anchored in the banking law. It guarantees the anonymity of the investors as well as the economic success of the financial services sector.

Location: The Isle of Man is located in the Irish Sea on the same distance from England, Scotland and Ireland. The island has an area of 221 square miles.

Language: English is the official and spoken language.

Legal System: The Island has its own courts but the law is based on English common law. Most of the civil law legislation is modeled on United Kingdom Acts of Parliament.

Taxation: The Isle of Man does not have any double taxation agreements besides a limited treaty with the United Kingdom. Residents are taxed only on their world wide income at a rate of 15% for the first chargeable amount and 20% after that. There are no capital gains, wealth, inheritance or gift taxes.

Incorporation: Isle of Man does not have IBC. There are tree basic types of Isle of Man Company.

• An Isle of Man resident company which is to all intents and purposes resident in the Isle of Man for income tax and pays tax at a rate of 20% on its world-wide profits.
• There is the exempt company.
• There is an Isle of Man non-resident company whereby management and control of the company is exercised out with the Isle of Man.

An Isle of Man company can be incorporated within 7 working days and ready made companies are available for immediate use. All Isle of Man companies are incorporated under the 1931 Companies Act, which was last amended in 1992.

Exempt Companies.

Following are requirements for an Exempt company:

• An Exempt company cannot be owned by an Isle of Man resident or company, however it may be owned by other Isle of Man Exempt companies.
• An Exempt company must have its source of income outside the Island.
• The company can be resident in the Island and it is exempted from Isle of Man taxation upon the lodging of an application for exempt status and payment of the annual fee.
• A annual fee of £300 has to be paid to the Registrar of Companies.
• The company must have a minimum of two directors who must be individuals and of any nationality. One director has to be an Isle of Man resident.
• The names and addresses of the directors are lodged with the Registrar of Companies and this information is available to the public (you can use Petro International nominees because of this).
• The company secretary must be an individual and a resident (also provided by Petro International, and must be suitably qualified as a solicitor, accountant etc.
• A minimum of two shareholders are required who may be either individuals or corporations. However, single member companies may be incorporated.
• The first annual general meeting must be held within 12 months of the incorporation date and after that the meetings must take place no more than 12 months apart. The meetings may take place anywhere in the world.
• All Isle of Man companies must keep a Register of Directors, Secretaries&Members at the registered office address.
• The company must file annual returns including the directors, the company secretary, the members, the office address and the shares taken up at the consideration paid. However, there is no obligation to file accounts.
• The share capital must have a par value but it can be denominated in any currency. The minimum issued share capital is £2 but it is normal to have an authorized share capital of £2,000, which is the maximum share capital for the minimum duty.

An Isle of Man company can use any name unless it includes the words: Chamber of Commerce, Building Society, Council Institute, Co-operative, Insurance, University, Reinsurance, Unit Trust, Register and Investment Trust. These names can only be used with the appropriate permission and license. Names such as Europe, Euro, European, Global, Worldwide and International require justification. All Isle of Man Private Limited companies with a fully paid up share capital of £100,000 must end with the word Limited.

The Articles of Association govern the internal affairs of the company. The Memorandum of Association for a Private Limited company must include: The name of the company and the fact that it is a Private company The authorized share capital The classes of shares Limited liability The registered office address, which must be in the Isle of Man The subscriber must write the number of shares he takes, which may not be less than one. Since 1988 all Isle of Man companies have the powers and privileges of an individual and that is the reason why these companies do not have object clauses.

Plumose Anemone Isle of Man, UK

Non Resident Companies: This type of company has its central management and control exercised from a foreign base. It will only be liable to income tax if there is any income from Isle of Man besides bank interest.

To obtain Non Resident status a Declaration of Non Residency has to be filed with the Registrar of Companies. A flat duty of £600 has to be paid annually upon filing of the annual return with the Registrar of Companies.

Resident Companies: This type of company is used mainly for carrying on business in the Isle of Man. The taxation rate is 20% on chargeable profits.

Special Features:

• The Isle of Man has adopted an industrial aid and incentive package which is considered to be one of the most attractive in the western world. Companies which satisfy the environmental and financial criteria of the Manx Government are entitled to capital grants of 40% of costs of new buildings or improvements in buildings and on new machinery and plants.

  First year operating grants of 40% of non-recurring costs are also granted, as well as training costs of up to 50% of costs incurred by employers and 40% of marketing costs in new ventures.

  Investment grants are 40% of outlays invested to conserve energy and reduce costs, while 40% of costs of employing consultants to advise on methods of applying micro-processing technology or manufacturing processes are allowed.

• The Isle of Man has annexed membership of the European Community because of the Island's close relationship with the UK It admits free trade in agricultural and industrial products with E.C. countries.
• The Isle of Man is not bound by E.C. Tax Harmonization Policies and is outside the jurisdiction of the E.C. for financial services.

Summary:

Following are some of the advantages of selecting the Isle of Man as an offshore center:

• Excellent communications
• A well established international banking system
• Sophisticated company law
• Non Resident companies and Exempt companies are exempted from domestic taxation
• No wealth, gift, inheritance or capital gains taxes
• No disclosure of beneficial ownership
• Immediate company availability
• Political, social and economic stability

INCOME ACCUMULATION: It is quite usual for the company’s assets to accumulate income and as Jersey does not seek to tax income on Trusts for non-residents it is possible to accomplish this without the deduction of any taxation. This can be achieved by investing in bonds or bank deposits which pay interest without deducting tax at source; income from other types of investments, such as equities and property may be subject to with-holding tax in the Country where the investment is made. CONFIDENTIALITY: A Isle of Man IBC does not have to be registered with any public authority. Any information given to the Trustee by the Settler or the Beneficiaries is kept strictly private and confidential.

Summary: Following are some of the advantages of selecting the Isle of Man as an offshore center: A well established international banking system A modern Companies Law providing maximum flexibility No filing requirements Immediate company availability Bearer shares 20 years exemption from local taxation Confidentiality Political, economic and social stability

GENERAL
Type of Company Political Stability Common or Civil Law Disclosure of Beneficial Owner Migration of Domicile Permitted Tax on Offshore Profits Language of Name	Exempt Excellent Common No No Nil Latin Alphabet

CORPORATE REQUIREMENTS
Minimum Number of Shareholders Minimum Number of Directors Bearer Shares Allowed Yes Corporate Directors Permitted Company Secretary Required Standard Authorized Share Capital	One One Yes Yes No US$50,000

LOCAL REQUIREMENTS
Registered Office/Agent Company Secretary Local Directors Local Meetings Government Register of Directors Government Register of Shareholders	Yes No No Yes (by proxy) No No

ANNUAL REQUIREMENTS
Annual Return Submit Accounts	Yes No

RECURRING GOVERNMENT COSTS
Minimum Annual Tax/License Fee Annual Return Filing Fee	US$ 575 US$175

MAILING, FAX, TELEPHONE AND OFFICE FACILITIES

As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our Switzerland, The Bahanas Islands, London or other Petro International's offices. This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.

To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability.

For example, your offshore company could quote Petro International London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum.

TRUST SERVICES: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settler. These advantages may include: SAVING OF INHERITANCE TAX: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated. ASSET PROTECTION: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc.

Beyer Peacock Steam Locomotive Isle of Man

AVOIDANCE OF PROBATE:

A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will.

CONTINUITY:

Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself.

LIFETIME TAX SAVINGS: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. OTHER SERVICES: Petro International provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services. VIP PACKAGE: Available at slightly higher cost

"Manx Thatched Cottage" Isle of Man So Different

Confused? The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a bank or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore.

The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can open a financial account under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.

We trust that we have clarified the intriguing world of Isle Of Man IBCs. We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services. If you would like to obtain further details of the legislation surrounding the formation of an International Business Company (IBC) Isle Of Man or wish to discuss any matter in complete confidence, please click here to contact: Mr. John Cooper Petro International Offshore Services

Manx the world's most famous cat (Isle Of Man)

Please click here to explain us the full particulars of your situation and what you wish to accomplish. We will review your situation very carefully and offer to you a custom fitted solution. 95% of the time the solution will be simple to understand and 100% of the time it will be the least expensive alternative.

Please feel free to contact Petro International Group if you believe the formation of an Isle Of Man IBC at the present time may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL.

Other Jurisdictions?

Petro International is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.