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What is a Registered Agent in Isle of Man?

What is a Registered Agent in Isle of Man?

Investors who are interested in Isle of Man company formation need to comply with a few requirements for the establishment and the management of the legal entity, as stipulated in the Companies Act.

What is a registered agent in the Isle of Man? An individual who will overtake some of the administrative functions and who needs to be appointed in order for the company to function properly.

The role of a registered agent

In the Isle of Man, it is mandatory to appoint a registered agent for each company. This individual will be the one who will undertake the responsibility to ensure that the legal entity functions according to the provisions of the 2006 Company Act. This includes a set of administrative procedures and sometimes secretarial services. Examples include filling in and submitting certain applications to the Registrar of Companies, maintaining the company documents and following up on the company’s activities. 

One of our agents who specialize in company formation in the Isle of Man can give you complete information about the Companies Act and the general requirements for company registration as well as the actual process.

Special qualifications for an Isle of Man registered agent

A registered agent in the Isle of Man needs to have a special license in order to occupy this function, as per the Financial Services Act. this license is issued by the Isle of Man Financial Services Authority.

The agent is the one responsible for making filings and submissions, as necessary and he will also be the one who will keep the company’s constitutive documents, the financial statements, and the original accounting records. 

The registered agent is appointed by the Board Members and he can resign by giving a proper notice and by notifying this change to the Company Registry.

Moving to the Isle of Man will be required of those who act as registered agents.

Our experts in company formation in the Isle of Man hold the necessary licenses to provide registered agent services. Our team can also represent you in the process of opening a bank account

Contact us for more information about how we can assist you and how one of our experts can help you during the Isle of Man company formation process.