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12 Years On - A reminder of the benefits of 2006 Act Companies
November 2018 marks the 12th anniversary of the introduction of the 2006 Act company form in the Isle of Man. It has proved a successful change with many overseas investors operating through the Island now using the 2006 Act Company as their standard corporate form. The most recent statistics from the Companies Registry indicated a total of 9,576 active 2006 Act Companies as at 30 September 2018.
The Future of the Aviation Industry in the Isle of Man
The aviation industry on the Island had seen rapid growth since May 2007 when the Isle of Man Aircraft Registry was established to provide services aimed specifically at private and corporate business jets and helicopters. Until recently, the aviation sector on the Isle of Man was seen as one that was relatively low risk, continuing to grow steadily, with high quality clients. All in all, it has been desirable sector in which to work.
Cybercrime – an introduction
With increasing technology and the number of devices we use online, the threat of Cybercrime has continued to surge in recent times and the consequences from both a financial and reputational perspective have grown considerably.
Our article in July highlighted the impending introduction of legislation pertaining to the substance requirements for tax resident companies. The Isle of Man Government has recently released a piece of draft legislation in relation to new substance requirements, which will, subject to passage through Tynwald and will come into effect for accounting periods starting on or after 1 January 2019.