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 1 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