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New LLC Rules Allow Corporate Lloyds Vehicles

Tax-news.com

29 June 1999


The Tynwald today approved changes to the Isle of Man LLC legislation (so-called 'Wyoming' companies) which make it possible for corporate Lloyds members to use the island as a base. The key change is to remove the 30-year limit previously set on the life of LLC companies. The new rules are expected to lead to a substantial increase in Lloyds business through the island.

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