Isle of Man Company Formations

Isle of Man Limited by shares Company Formation

The Companies Act 2006 Act reduced the accounting and reporting requirements associated with an Isle of Man company formation, further changes have been made with the objective of easing the incorporation process of new companies.

As of the 2006 Companies act there is no distinction in many ways between a public and private company, no restrictions on offering shares to the public and no restrictions on the transfer of shares.

A company limited by shares is equivalent to a UK Private Limited Company and therefore is the most popular method of structuring a new incorporation in the Isle of Man.

Fees

• Company Formation – £1,500
• Provision of Registered Office – £2,400
• Government Registration fee – £100
• Annual Return filing Fee payable to Government – £850
• Company Secretary required – £2,000

Company Name

Company names must be submitted too and approved by the Financial Supervision Commission and must bear the suffix “Limited” or “Ltd” after the name.

We check that your Isle of Man company name is acceptable and is not already registered with the Financial Supervision Commission.

Directors

Only one director is required for a company incorporated in the Isle of Man, with no restrictions on nationality or residency.

Shareholders

Only one shareholder is required for a company incorporated in the Isle of Man, with no restrictions placed on nationality or residency.

Shares can be issued as standard registered shares or as bearer shares – bearer shares offer high levels of confidentiality to the shareholder(s). Further confidentiality and public anonymity of the shareholders may be obtained by the employment of nominee shareholders.

Share Capital

There is no minimum share capital requirements for a company in the Isle of Man, but the minimum issued number of shares is two. The minimum payable duty is valid up to £2,000, share capital over this amount are required to pay additional duty charges.

Company Secretary

At least one professionally qualified company secretary is required, who must be resident in the Isle of Man.

Registered Office

A registered office in the Isle of Man is mandatory, and hold a license issued by the Isle of Man Financial Supervision Commission. The purpose of a registered office is to maintain the company and provide a physical location where documents may be legally served – we can provide your company a registered office in the Isle of Man.

Timescale

We can incorporate Isle of Man Company in 7 days once all documents are received.

Travel

It is not required to visit the Isle of Man to incorporate your company.