Isle of Man Foundations
We deliver structures designed to protect and enhance your assets
Crowe Trust Isle of Man Ltd offers a full foundation administration service which is tailored to our clients’ needs. Foundations provide a flexible, personalised solution to those wishing to protect their wealth and ensure an effective transition to future generations.
Foundations can be established for the benefit of families or individuals or for private or for charitable purposes. A charitable foundation can be registered as a charity if its sole purpose is to benefit charities or charitable work.
They are an attractive alternative to a common trust. A foundation shares the characteristics of a trust, they do not have shareholders but instead have a founder and beneficiaries. They also have their own legal personality and the ability to enter into contracts in its own right..
We work with our clients and their advisers to establish the foundation and to draft the appropriate rules. We provide council members from our qualified senior management team. We also act as registered agent and will provide administration and accountancy services tailored to meet our client’s specific requirements.
In the Isle of Man, a foundation is treated as a corporate taxpayer for income tax purposes (subject to a general rate of 0% and 10% in respect of income received from land and property in the Isle of Man). There is no capital gains tax and no form of inheritance, gift or estate tax in the Isle of Man.
Crowe Trust is able to provide a range of comprehensive services associated with all elements of the establishment and management of an Isle of Man Foundation.
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Diane Clarke
Director, Trust
+44 (0)1624 627241
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