Registering a company in the Isle of Man is simple and straightforward. Off the shelf or ready-made companies are available from a number of sources, including corporate service providers who are licensed by the Commission to undertake such work. The Isle of Man Financial Supervision Commission's professional directory contains a full list of licensed corporate service providers.
Should you choose to incorporate the company yourself, you will first need to obtain approval of your proposed company name from the Isle of Man Companies Registry. They can provide guidance on this process and on certain restrictions that will apply when choosing your company name. Once your chosen name has been approved, you will need to complete the appropriate documents and return them with the correct fee payable.
Advantages of registering in the Isle of Man
- Every country and jurisdiction has its distinct forms of business. The Isle of Man is no exception having been legally and politically distinct for over a thousand years, and in modern times becoming one of the leading centres of the world for offshore financial services. Companies and other forms of business organisation established under the law of the Isle of Man have been widely used internationally.
- It is no accident that business organisations established in the Isle of Man have become so widely used. It is arguable that the Isle of Man has the most sophisticated law relating to forms of business organisation of any centre for ‘offshore ’ work, and is among the leading jurisdictions of the world in this respect.
- The Isle of Man is a ‘Common Law ’jurisdiction. Equity, as it developed in the English courts, has been applied identically in the Isle of Man since the seventeenth century. With a few exceptions, notably in Land law and Constitutional law, the Isle of Man closely follows English legal precedents and legislation.
- Part of the success of the Isle of Man is its professional services industry. The Isle of Man legal profession is a fused profession practicing law to the highest standards. The Judiciary of the Isle of Man enjoys the highest international reputation and its judgments carry great weight internationally. The accountancy profession is well established, with all the major international firms represented from the Chartered, Certified and other branches of the profession. The Institute of Chartered Secretaries and Administrators is also represented, as is the banking profession through a thriving centre of the Chartered Institute of Bankers.
The Companies Registry administers all functions relating to the regulation of companies, limited liability companies, limited partnerships and industrial and building societies. It also has powers to prescribe fees and duties.