What is an Isle of Man Registered Agent ? (Practical Guide)

The Isle Of Man Companies Registry maintains information about entities incorporated in the Isle of Man. There are 3 different types of corporate entity in the Isle of Man which require a Registered Agent. These are…

Isle of Man Limited Liabilities Act 1996
Isle of Man Companies Act 2006
Isle of Man Foundations Act 2011.

In practice, companies incorporated under Isle of Man Companies Act 2006 (sometimes called New Manx Vehicles) are by far the most common therefore the rest of this article focuses on the role of a Registered Agent for this type of Company.

Chapters 1 & 2 of the the Isle of Man Companies Act 2006 includes the Sections which deal with the role of the Registered Agent. The most important of these are summarized below…

(i) Qualifications (s74) – a person holding the relevant licence under the Financial Services Act 2008.

(ii) Appointment (s75) – by the Members (or the directors if permitted by the Articles)

(iii) Resignation (s76 &77) – by the registered agent giving 8 weeks notice to the directors and the Company and filing a notice at the Companies’ Registry.

(iv) Documents that must be kept at the of office of Registered Agent (s78) – M&A, Register of Members, Register of Directors, Register of Charges, Copies of all other documents and filings for previous 6 years and original Financial Statements (If prepared)

(v) Accounting records (s80)– if the original accounting records are not kept at the office of the registered agent then copies which correctly explain the transactions of the Company, enable the financial position of the Company to be determined with reasonable accuracy at any time and allow financial statements to be prepared must be delivered to the registered agent at intervals not exceeding 12 months..

  
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