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 the 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 limited company and therefore is the most popular structure for new incorporations on the Isle of Man.

Fees

• Company Formation – £1,500
• Provision of Registered Office – £2,400
• Government Registration fee – £100
• Annual Return filing Fee – £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.

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 one. The duty is valid up to £2,000, issued share capital over this amount will pay additional duty charges.

Company Secretary

A professionally qualified resident company secretary is required.

Registered Office

A licensed registered office in the Isle of Man is provided as part of our service.. The purpose of a registered office is to maintain the company, hold the company records and provide a physical location where documents may be legally served

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.