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Proposed new Isle of Man company legislation published 3 August 2005

    The Isle of Man Government has published draft legislation for the creation of a new type of company.

    The new Manx corporate vehicle - ‘NMV’ – is designed to be simple and inexpensive to administer and to meet the Island’s obligations in terms of the commonly adopted benchmarks of international standards. It is intended that the new vehicle will operate alongside the Island’s existing corporate framework.

    For more information on the Companies Bill 2005, and to download a copy of the consultative draft, please click on the link below. The closing date for the consultation is 30th September 2005.

    Proposed new company legislation – Treasury press release

    3rd August 2005

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