In DQ, we have substantial experience of acquisitions for a vast array of corporate clients, from local trading businesses to banks and insurance companies, listed groups, international e-gaming companies, mining companies and hedge funds. DQ’s lawyers are leading advisers in this field on the Isle of Man.
Isle of Man companies’ legislation provides a number of options to companies looking for potential sales or acquisitions. As an alternative to the more typical methods of simple outright aquisition, statutory drag along provisions or schemes of arrangement, the Isle of Man Companies Act 2006 provides the alternatives of mergers (company A merges with company B, with company A continuing) and consolidations (company A merges with company B, creating a new company C) requiring only 75% shareholder approval, and without the requirement of Court sanction.
This merger and consolidation process dramatically speeds up acquisitions which would otherwise require a court sanctioned scheme, whilst also reducing the cost substantially. When taking into account the Isle of Man’s zero corporate tax rate and zero stamp duty, the Isle of Man becomes the ideal jurisdiction for companies looking to expand through acquisition and private companies planning their exit options for the future.