Other Isle of Man Structures
Trusts, foundations, partnerships and other structures
Companies are not the only structures available in the Isle of Man. Depending on the circumstances, an individual, family or business may also consider a foundation, limited liability company, partnership or trust. The appropriate structure depends on its purpose, ownership, control, connected jurisdictions, tax treatment, administration and ongoing obligations.
Isle of Man Foundation
A foundation is a legal entity established under the Foundations Act 2011. It does not have shareholders or members; instead, it exists for its stated purposes and the benefit of any beneficiaries.
Legal personality: Separate legal personality — a foundation is a distinct legal person in its own right.
Governance: A council governs the foundation. Where the foundation has specified non-charitable purpose objects, an enforcer must be appointed to enforce those objects and ensure they are carried out. Where the foundation has beneficiary-based objects only, the requirement for an enforcer differs — the Foundations Act 2011 should be consulted for the precise position.
Administration: The foundation must maintain a registered agent on the Isle of Man and file annual returns with the Companies Registry.
Provider services: Establishment and registered agent services for an Isle of Man foundation involve Class 4 (Corporate Services) permissions under Isle of Man financial services legislation. Separate Class 5 (Trust Services) considerations may arise where trust or fiduciary activities are involved, including appropriate enforcer services, but Class 5 is not automatically required simply to establish a foundation. Providers should be consulted on the specific services required and the relevant permissions they hold.
Legislation: Foundations Act 2011 (Isle of Man)
Limited Liability Company (LLC)
An Isle of Man limited liability company is established under the Limited Liability Companies Act 1996. It combines elements of a company and a partnership, with members rather than shareholders.
Legal personality: Separate legal personality — the LLC is a distinct legal person separate from its members.
Governance: An LLC is managed by its members or by appointed managers, as set out in its operating agreement.
Administration: Registration with the Companies Registry is required. Annual returns and ongoing statutory obligations apply.
Provider services: Formation and administration may involve Class 4 Corporate Services permissions, subject to applicable exclusions and exemptions.
Legislation: Limited Liability Companies Act 1996 (Isle of Man)
Limited Partnership
A limited partnership consists of one or more general partners, who manage the business and bear unlimited liability, and one or more limited partners, whose liability is limited to their capital contribution.
Legal personality: An Isle of Man limited partnership is constituted under the Partnership Act 1909. Separate legal personality is not automatic. Provisions enabling a limited partnership to elect separate legal personality were introduced by the Limited Partnership (Legal Personality) Act 2011. The election is made on registration and is irrevocable. Where separate legal personality is not elected, the partnership is not a legal person distinct from its partners.
Governance: General partners manage the partnership. Limited partners may not take part in management without risking loss of limited liability.
Administration: Registration with the Companies Registry is required. Annual returns and record-keeping obligations apply.
Provider services: Formation and administration may involve Class 4 Corporate Services permissions, subject to applicable exclusions and exemptions. Providers may also assist with place of business or accommodation address services, where applicable.
Legislation: Partnership Act 1909 (Isle of Man); Limited Partnership (Legal Personality) Act 2011 (Isle of Man)
General Partnership
A general partnership is formed by two or more persons carrying on a business in common with a view to profit. No registration is required for formation, though registration is available.
Legal personality: No separate legal personality. Partners are generally jointly liable for the debts and obligations of the firm, with joint and several liability applying in specified circumstances under the Partnership Act 1909.
Governance: Partners manage the business jointly unless a partnership agreement provides otherwise.
Administration: Partnerships are encouraged to have a written partnership agreement setting out the rights and obligations of each partner.
Provider services: Providers may assist with formation documentation and place of business or accommodation address services, where applicable, subject to applicable exclusions and exemptions.
Legislation: Partnership Act 1909 (Isle of Man)
Express Trust
An express trust arises when a settlor transfers assets to a trustee to hold for the benefit of identified beneficiaries or for stated purposes. The Isle of Man has a well-developed trust law framework.
Legal personality: No separate legal personality. A trust is not a legal person; assets are held by the trustee in its own name subject to fiduciary obligations.
Governance: The trustee holds and administers trust assets. A protector may be appointed to oversee or direct the trustee in specified matters.
Administration: Ongoing administration by the trustee, including investment management, distributions, record-keeping, tax reporting and compliance with applicable legislation.
Provider services: Trust establishment and administration requires Class 5 (Trust Services) permissions from the Isle of Man Financial Services Authority, subject to applicable exclusions and exemptions.
Legislation: Trustee Act 2001 (Isle of Man); Trust (Amendment) Acts
Purpose Trust
A purpose trust is established for defined purposes rather than for identifiable beneficiaries. Isle of Man purpose trusts are governed by the Purpose Trusts Act 1996.
Legal personality: No separate legal personality. Assets are held by the trustee in its own name for the stated purposes.
Governance: An enforcer must be appointed to enforce the trust and ensure its purposes are carried out. A trustee administers the trust assets.
Administration: Ongoing trustee administration, regular reporting to the enforcer, and compliance with applicable legislation.
Provider services: Trust establishment and administration, and enforcer services, require Class 5 (Trust Services) permissions from the Isle of Man Financial Services Authority, subject to applicable exclusions and exemptions.
Legislation: Purpose Trusts Act 1996 (Isle of Man)
About this guide
This guide has been prepared using relevant Isle of Man primary sources and practical understanding of the Isle of Man compliance and CSP environment. It provides general educational information only and does not constitute legal, tax, regulatory or other professional advice.
Last reviewed: 10 August 2026. Editorial Standards
This information is a general introduction only and was last reviewed 10 August 2026. Harbour North Digital Limited does not provide legal, tax, corporate or trust advice. Regulatory permissions noted are subject to applicable exclusions and exemptions. Independent advice should be obtained before establishing or changing a structure. Legislation references are provided for information only; always consult the current version of any Act.
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