Changes to Foreign Companies Act coming into force

| August 1, 2014 | 0 Comments

The Companies Registry has issued a notice to all registered foreign companies in the Isle of Man that changes to the Foreign Companies Act will be brought into operation on 1st August 2014.

The main changes apply to registration of such companies and in the filing of annual returns.

In a measure designed to cut red tape and bureaucracy, the information required for registration has been streamlined.  Going forward, the F-Register will act as a portal to the home jurisdiction, where the full details of the company will be available.

For Annual Returns, every foreign company must make a return to the Companies Registry within one month of the anniversary of the date of incorporation of the company in its home jurisdiction.

A Practice Note providing more detailed guidance is available free of charge on the Companies Registry website at www.gov.im/ded/companies/2014act_fc/practice_notes.xml

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Category: Finance & Business

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