To sum it all up, I do not know enough about the Corporate entities involved.
Yep, that's patently clear from your post. And so too is your knowledge of the Manx register - so why post?
Everything you need to know regarding the IOM register, what their aircraft may do, when, how, and for whom, and the regulatory structure they work to, is available on their web site.
In the regs you will find precisely how such an operation could be worked as private.
IOM reg may not be for you, but have you ever stopped to wonder just why it is so popular?