Companies incorporated outside the Isle of Man which establish a
place of business in the Isle of Man are at present required to
register with the Isle of Man Companies Registry as F-Companies
under Part XI of the Isle of Man Companies Act 1931
("Part XI"). The purpose and effect of
F-registration is essentially to place a foreign registered company
under a similar reporting and disclosure regime to an Isle of Man
incorporated company.
Part XI of the 1931 Act is to be replaced with new stand alone
legislation in the form of the Foreign Companies Act 2014 (the
"FCA 2014"), which is expected to come
into force on August 1 2014. This note highlights the key changes
arising from this new legislation, which have practical
implications for the administration of foreign companies in the
Isle of Man.
