Isle of Man Exempt Fund Costs

[sumaiyakhatun26]

I have already alluded to this earlier within the article, so I will keep this short. I am not dissuading the Promoter of the virtues of the Isle of Man Exempt Fund, as they can be very beneficial, however this does need to be caveated:

Setting up an Isle of Man Exempt Fund may well be a cheaper exercise than establishing other types of Fund, however please note that this is NOT a cheap exercise. We would always suggest that the Promoter also considers the potential use of an investment holding company as an alternative to their Isle of Man Exempt Fund, and whether their objectives can be met in this way.

The legals alone will likely cost in the order of tens of thousands of pounds. The Promoter jamaica mobile database will also have the Corporate Service Provider’s administrative fees, which are usually calculated as the higher of a minimum cost and a percentage of assets under management. Finally, the Promoter will have to meet any third-party fees – which will thoroughly depend on the nature of the linked assets i.e. if the assets are property such as real estate, you may need property managers, insurance etc.

In summary, the Exempt Fund could have six figure running costs, so this will need to be factored into the likely growth on the Isle of Man Exempt Fund and any tax savings and efficiencies compared to all other financial considerations.