Following on from our recent article on the Companies Act 2011, the Companies Act 2012 further demonstrates the Isle of Man’s commitment to seeking transparency in the ownership of companies.

The Act addresses several recommendations made within the MONEYVAL Mutual Evaluation Report of the Isle of Man, as well as addressing other matters identified by various authorities in relation to anti-money laundering and the effective prosecution of financial crime.

In quiet corners, there are signs of muted celebration regarding the OECD's recent publication: the Isle of Man is ‘COMPLIANT'. Yes: capital letters are appropriate!

The action of arrest is a unique Manx remedy available to creditors whose debtors are resident and/or retain property on the Island.