Company Incorporation in the Isle of Man

Companies can be incorporated in the Isle of Man under either the Companies Act 1931 to 2004 or under the Companies Act 2006 provided the necessary approval is received from the registrar of companies. Please see our briefing note for details on the Companies Act 2006. Application must first be made to the registrar for approval of the company name, which will normally be given provided there is no conflict with an existing company. It should be noted that certain names may not be allowed, whilst others may carry restrictions for example, a minimum level of paid up share capital may be required. Advice can be given at the stage of name approval application. It is a requirement that the registered office of the company is the Isle of Man.

The following are the basic legal requirements relating to a Manx private limited company:

  • There can be one or more shareholders
  • For ‘1931 Act’ companies, there must be two directors, who must be individuals, and a company secretary, who can be an individual or a corporate body. There are no restrictions on the residence or nationality of the directors or secretary, except in the case of tax exempt companies and exempt insurance companies.
  • For ‘2006 Act’ companies, there can be a single director, which can in certain circumstances be a corporate director. Cayman National is authorised to provide corporate director services. There is no need for a company secretary, although the company must appoint a Registered Agent. Again, Cayman National is fully authorised to provide this service. As above, there are no restrictions on the residence or nationality of individual directors.
  • Please note it is Cayman National’s policy not to delegate any functions associated with the management or administration of a client company to third parties.
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