• Isle of Man Trust

  • Legal Framework

    Trusts in the Isle of Man are governed by the Isle of Man Trustee Act 1961 amended by the Trustee Act 2001.

  • Registration Requirements

    There is no requirement for trusts in the Isle of Man to be registered.

  • Settlor

    The Settlor does not need to be a permanent resident of the Isle of Man.

  • Beneficiary

    The Beneficiary does not need to be a permanent resident of the Isle of Man.

  • Trustee

    The Trustee should be local and licensed. The minimum number of trustees is 2 if they are individuals and 1 if it is a corporate body.

  • Protector

    The appointment of a Protector is optional.

  • Perpetuity Period

    The maximum duration of a trust in the Isle of Man is 150 years.

  • Property

    There is no restriction on the property of a trust in the Isle of Man.

  • Confidentiality

    Isle of Man provides confidentiality, which is enhanced by the fact that there are no registration requirements and therefore the details of the Settlor and Beneficiaries are not disclosed to any person other than the Trustee.

  • Taxation

    A trust in the Isle of Man is exempt from taxation if:

    • It is established from non-Isle of Man source capital;
    • It is established for the benefit of non-resident beneficiaries; and
    • Earns non-Isle of Man source income.

    The income of the foreign beneficiaries from a trust in the Isle of Man is not subject to any form of taxation in the Isle of Man.

  • Asset protection

    There is no specific legislation providing asset protection of trusts in the Isle of Man but case law precedent exists whereby a trust will not be void or voidable in the event of the Settlor's bankruptcy or liquidation thus achieving asset protection from creditors provided that it can be proved that the purpose of the trust was not to defraud the Settlor's creditors.

  • Reporting Requirements

    There are no reporting requirements for a trust in the Isle of Man.