Welcome to ILS World

British Virgin Islands

ILS World opened its doors in Tortola in 1994. The BVI has an established international business offer and we provide a timely and efficient service, drawing upon locally cultivated knowledge.

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China

From our Shanghai office, ILS World provides commercial and private clients access to the right global network to meet their ambitions.

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Dubai

The ILS World independent network expanded into the Middle East's vibrant economic and cultural centre in 2005. Since then, we have combined Dubai's excellent reputation as a business friendly and well regulated economy with our significant experience in the jurisdiction to deliver peerless fiduciary, regional incorporation and corporate administration services to clients operating in this exciting marketplace.

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Hong Kong

With its stable legal, political and regulatory environment and progressive approach to business Hong Kong is a preferred platform for those seeking a gateway into China.

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Isle of Man

Secure, efficient and business friendly, ILS World's approach is defined by our home jurisdiction, the Isle of Man.

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London

Our London office is the hub of ILS World’s administrative function for our UK client companies and an excellent location from which to liaise with a global client portfolio.

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Portugal

Our expansion into Portugal in 1999 was in response to the needs of our clients. Since then, ILS World’s presence in this exciting marketplace has enabled us to better meet the considerable demand for offshore wealth management and protection services.

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Switzerland

ILS World opened its doors in Geneva in 2005 and offers a full range of corporate and fiduciary services. With expertise in international holding and trading structures and the ability to manage those structures from within one of the world’s most respected and stable jurisdictions, the business has grown organically and rapidly.

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Uruguay

We draw upon Uruguay’s reputation as a strong economy with a stable fiscal and political environment and robust regulatory practices to offer clients wishing to invest in and manage wealth within South America the perfect regional platform.

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European Trading Platform

Whilst China has been the manufacturing power house of the world for over two decades, there have been few brands that have taken the opportunity to build a network of overseas offices and markets. This is particularly the case as far as the European Union is concerned.
Posted by Richard MacNee
on Monday 26th September, 2016

Whilst the US market is much more homogeneous than the EU market and the Australian market, closer to home the EU market poses some very severe challenges to any Chinese business wishing to break into the largest 'common' market in the world. Although the market is lauded as being 'one market' for goods, dealing with up to 28 different sets of legislation, VAT systems, customs duties and alike, not to mention 24 official languages makes for a very daunting prospect.

Many Chinese firms think they need to establish one trading entity, bank account and related issues for each EU jurisdiction in which they wish to trade. When we talk to our Chinese manufacturing clients and explain to them that there is a possibility of setting up one entity in the Isle of Man, which can be used for trading throughout the EU with simplified VAT accounting and other factors, including the enjoyment of corporation tax at zero per cent, they are initially surprised but often then very interested in learning how they can move up the value chain and fulfil the Chinese Government's official policy of 'Going Out'. We have called this service our European Trading Platform (ETP), and whilst we have focussed a lot of our attention on our Chinese clients due to their manufacturing diversity and volume, the accessibility of the EU market through the Isle of Man via the ETP is valid for any non EU manufacturing company or country.

By selling goods at the factory gates most manufacturers are only able to realise approximately 20 per cent of the value of the goods that the ultimate purchaser pays. By taking greater ownership of their distribution chain they can increase their turnover as a percentage of the final retail price up to 60 to 70 per cent, Whilst the move from 20 to 70 per cent incurs some additional costs in terms of freight, insurance, warehousing and fulfilment the margin at the end of the day is significantly greater for those manufacturers and brands that wish to take a greater level of control of their distribution channel. ILS in the Isle of Man is experienced in dealing with a number of manufactured products that use the Isle of Man ETP for this purpose. Amongst our existing clients are those that manufacture:

  • Furniture
  • Clothing
  • Solar Panels
  • Electrical signage
  • Electrical consumer goods
  • Fashion wear

By forming a subsidiary of an existing Chinese or other entity in the Isle of Man and the manufacturing holding company then selling its goods to the Isle of Man subsidiary, the subsidiary having been registered for VAT in the EU, can then deal with the importation of the goods in either the UK or elsewhere and resell the goods to the end EU buyer. The goods do not need to transit the Isle of Man for the ETP to work fully for the client. Once the goods have been landed in Europe they can be broken and distributed to various customers or they can be held in a warehouse for later consignment on an 'as sold' basis. Payments are made to the Isle of Man Company which banks in the Isle of Man, any VAT payments can be disbursed and/or reclaimed as required and all other customs duties can be facilitated by the Isle of Man company. Ultimately the profits of the Isle of Man Company can either be reinvested in the promotion of the brand within Europe or remitted back to the holding company in China or elsewhere free from any withholding tax.

All in all the ETP offers a very slick and cost effective solution for international brands attempting to break into the EU market and provides a level of simplification which many clients simply don't identify as being possible when first contemplating entry into the EU.

For further information about the ILS World European Trading Platform please contact us.

Richard MacNee
Richard MacNee
Group Business Development Director Isle of Man
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