Isle of Man Finance

The introduction of the Companies Act 2006 in the Isle of Man on 1st November 2006 marks the biggest change in Isle of Man company law for seventy five years.

This modern, cost effective vehicle for business incorporation has been developed for today’s fast moving and sophisticated global market place. Its introduction, alongside the Companies Acts 1931-2004, which also remain in place, is a testament to the excellent working relationship which our Government and private sector enjoys on the Island and through which the new legislation has been developed in close cooperation. When coupled with the Island’s strong professional infrastructure, and its zero rate tax strategy on company profits introduced in April 2006, the introduction of the Companies Act 2006 places the Island at the forefront of domiciles within a European time zone for the establishment and servicing of companies.

Key features of the Companies Act 2006 include:

• One Director, individual or corporate
• A Registered Agent, instead of company secretary
• More flexible annual returns
• Unlimited corporate capacity, but restricted objects are permissible
• No preclusion of financial assistance
• Pre-incorporation contracts can be adopted
• Simple merger and consolidation procedures
• Simple transfer of domicile procedures
• Protected Cell Companies are permissible

The Isle of Man Government continually strives to ensure the Island is a centre of excellence and that businesses and professionals dealing with the Island can have confidence in the high standards of professionalism and regulation in choosing the Island as a location for their bona fide business needs, incorporation and other services.

• Isle of Man Companies Act 2006 - Information (814 kb)

  Format:Acrobat PDF File

  Isle of Man Companies Act 2006 - Information