VAT registration & returns
Company start-up from £24.99,
with annual accounts (extra charge applies)
Company secretarial services
1931 Act company formation in the Isle of Man: setting up an overseas company is an increasingly popular way to cut down on financial costs and reduce the burden of regulation that the modern business owner often has to face in jurisdictions such as the UK or Europe. One of the most trusted locations for offshore incorporation is the Isle of Man, situated on the edge of Europe, between the Republic of Ireland and the UK.
The Isle of Man offers a business friendly environment that is designed to encourage overseas incorporation, and there are several different types of company to choose from, the most traditional being a 1931 Act company. This type of company offers the advantage of being able to set up with just two directors, and is exempt both from local taxation and from the requirement to name a registered agent who is resident in the Isle of Man. If you're thinking of setting up a company in the Isle of Man but don't know where to start, get in touch with Coddan as your company start-up agent. Our impartial corporate advice and expertise in the field of company set-up can help to ensure that your company set-up runs smoothly.
ANNUAL FEES FROM £3,200
This 1931 Act company formation package is for customers, who require to open a limited company in Manx with registered office address, and two nominee directors. The registration of private company usually takes 5 days.
The following documents will be dispatch by regular post upon the incorporation of a 1931 Act company in Isle of Man:
ANNUAL FEES FROM £3,950
This 1931 Act company registration package is for customers, who require to create a limited company in Manx with domiciled legal address, two nominee directors and one nominee shareholder. The incorporation of private company usually takes 5 days.
The following documents will be dispatch by regular post upon the creation of a 1931 Act company in Isle of Man:
ANNUAL FEES FROM £3,950
This 1931 Act company start-up package is for customers, who require to set-up a limited company in Manx with legal address, two nominee directors and one nominee shareholder. This package is also includes the VAT registration.
This company set-up in the Isle of Man offer includes everything in the second option, plus:
ANNUAL FEES FROM £3,950
This IOM company start-up package is for customers, who require to set-up a limited company with registered address, two nominee directors and one nominee shareholder. This package is also includes the bank account.
This private company creation in the Isle of Man offer includes everything in the second option, plus:
There are a number of reasons registering a new business entity in the Isle of Man can make sense. By choosing a respected company registration agent with a growing client base such as ourselves, you will give yourself the peace of mind that comes with knowing you have dotted the Is and crossed the Ts.
One piece of legislation that we know inside out as a result of our extensive work with registering companies in the Isle of Man is the 1931 act concerning company formation. At Coddan, we pride ourselves on possessing a comprehensive knowledge of this type of legislation, but you might wish to develop a basic understanding.
All IOM companies which are incorporated under the Companies Act 1931 are either public companies or private companies. A public limited company, or PLC, may sell its share to holders, and must deliver audited accounts to the Companies Registry annually. A private company is not permitted to offer shares unless it is a subsidiary of an Isle of Man PLC, and is not obliged to send audited accounts to the Companies Registry.
For those wishing to register a company in the Isle of Man, the act requires that the company name is approved first by the Companies Registry. Then a number of documents, among them the articles of association, and an initial information form, must be returned. This is something we can complete on your behalf as part of the service we provide here at Coddan.
Forming a company in accordance with the 1931 Companies Act in the Isle of Man can be a complex process that requires time and effort. If you wish to speed this process up and understand it better so that you encounter fewer problems down the line, here at Coddan our vastly experienced team of experts have formed companies, trusts and LLCs around the world and can help you immediately. We form companies 24/7 and have a variety of packages to suit all clients.
In short, at Coddan, we can guide you through this process, safely and securely, helping you protect your assets and create either a public or private limited company in the Isle of Man in a small amount of time. We look forward to hearing from you today.
If you're looking to register a company in the Isle of Man in accordance with the 1931 Companies Act, it's important to be aware of some of the legal requirements of this act. Thankfully, here at Coddan, we're vastly experienced with company formation in the United Kingdom and around the globe.
The 1931 Act stipulates that a company in the Isle of Man can be either a public or private company; in accordance with the act, this means that both of these types of companies operate in very different ways.
A PLC, or public limited company, can for example offer shares and debentures to the public for sale. A public limited company operating in this manner must be explicitly stated as such to operate in accordance with the 1931 Act; the company must also adhere to further legal requirements, such as submitting fully regulated and audited accounts to the Isle of Man Companies Registry. This must occur annually to not breach the 1931 Act.
In contrast, a private limited company formed in the Isle of Man may have no such requirement to submit an audited overview of the company's accounts on an annual basis. But this is not always the case - for example, if the private company was in some way connected to a public limited company. Also, a private company in accordance with the 1931 Act must not offer public shares.