Have any of you registered a business in the Isle of Man?

[UFC]

Hi all

As the title says, have any of you registered a business in the Isle of Man?

A friend of mine wants to set up a website (will be providing services internationally) so she doesn't really need to be registered in Ireland. So for tax purposes etc. she is considering registering her business in the Isle of Man (or some other low tax region).

Have any of you done this, or have any advice for her?

Thanks

 

[Domo]

Based on the limited information provided:

If she is trading as a sole trader, she will be taxable based on her personal residence and domicile situation. Therefore if she is resident and domiciled in Ireland she will be taxable on her business profits here if she is trading here no matter where the business is "registered".

If she is using a Limited company, there will be residence issues for the company, and if she is working in Ireland for the company, the company will have to operate Irish PAYE/PRSI on her salary.

It all really hinges on where she is tax resident. The above is only a brief outline of some of the issues involved.

This is a complex issue, and she should really take professional advice.

www.taxingtimes.ie