Isle of Man Companies
The Island has been a successful international financial centre since the 1980’s and therefore as you would expect we have a well developed framework of legislation for the incorporation of companies and other legal structures.
If you want to know more about Foundations, Trusts, LLC’s, Limited Partnerships or protected cell companies then take a look at our Isleofman-companies.com website or contact Martin.
However, the main entities relevant to new residents wishing to set up an Isle of Man business are formed under our Isle of Man Companies Act 1931 or the Isle of Man Companies Act 2006.
For a comparison between the two Acts see here. In 90%+ of cases the most suitable Act for new residents will be our 1931 Act because these types of companies can be managed without the requirement to appoint a corporate service provider as the registered agent – making them much cheaper to run.
However, sometimes there are very good reasons for using a 2006 Act company. Ask us for a referral to a CSP, or take a look at our article on selecting a corporate service provider.