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Isle of Man Company Formation | Benefits | Charges | Accounts | Fees The key features of an Isle of Man Company Formation are: Minimum of 1 Director – can be any nationality and can reside anywhere in the world, can also be a corporate body Minimum of 1 shareholder required All companies no matter what their incorporation date, are due for renewal on the 31st December each year. A visit to the Isle of Man is not required to form your company The Isle of Man is a self-governing British Crown dependency located in the Irish Sea between the islands of Great Britain and Ireland. It is not and has never been part of the United Kingdom but is within the British Isles. The Isle of Man is an established international business and finance centre, with a secure base built on political stability and low taxation. Timescale Once all the required identification documents are produced, the Isle of Man company formation process will take approximately 5 working days subject to compliance review. Please note that in depth compliance checks are made, which can affect the timescale of the company formation and due to the difference in time zones we work on, the replies will not always be immediate from the agent and can impact the response time. Offshore Bank Account After forming your company you may wish to open an Offshore Business Bank Account. CFS International Formations have a close working relationship with many Offshore Bank Accounts. The Banks we have chosen to work with meet our high standards of confidentiality has a high reputation and offers a wide range of banking services which we believe will best suit your requirements. To apply for an Offshore Bank Account, you will need to comply with the identification requirements. Like us, the Bank must ensure they are complying with the authorities, as this will help to reduce the chances of Money Laundering.