COMPANIES

There are a variety of companies that can be incorporated in the Isle of Man and can be classified as “Private” or “Public”. Management The management of a company is deemed to be vested in its Board of Directors. A company incorporated under the 1931 to 2004 Manx Company Acts requires a minimum of two directors (individual, not corporate). A company incorporated under the Companies Act 2006 may have only one director and such a d irector can be an individual or a company. There are no residence or nationality requirements. Residence A company is deemed to be resident in the Isle of Man, if its central management and control is exercised in and from the Island, i.e. the majority of its Board of Directors are themselves resident in the Isle of Man and the Board Meetings are held in the Island. Shareholders All Manx companies, other than a public limited company or an unlimited company, may be incorporated with, or ultimately have, only one shareholder.

Fulcrum Limited PO Box 1, Portland House, Station Road, Ballasalla, Isle of Man, IM99 6AB, British Islands. Telephone: +44 (0)1624 829200 or 822816, Fax: +44 (0)1624 824570, E-Mail: mail@fulcrumiom.com