New director notification requirements under Isle of Man Companies Act 2006 come into force
The Isle of Man’s new director notification requirements came into effect on 1 April 2025. Under these new provisions, the first appointment of directors, or any subsequent changes to the register of directors, must be notified to the Registrar of Companies within one month.
Any previous appointments that have not yet been notified to the Registrar must also be submitted by 1 May 2025.
The Isle of Man has two main company law regimes: the Companies Act 1931 and the Companies Act 2006. The 1931 Act is a more traditional framework, while the 2006 Act offers greater flexibility and is based on the international business company model.
The Companies Act 2006 offers simplified administration and fewer compliance requirements compared to the 1931 Act, but all 2006 Act companies are required to appoint a licensed registered agent.
The Department of Enterprise said the changes would streamline the annual return filing process under the Companies Act 2006 because director information will no longer have to be updated via the annual return, enabling a significant increase in online filing potential.
Currently, more than 40% of annual returns for companies operating under the Companies Act 1931 are filed online, and this update will enable companies operating under the 2006 Act to take similar advantage of the availability of online processes.
Implementation for existing companies
To facilitate a smooth transition to the new requirements, all 2006 Act companies that have not already elected to file their register of directors (IMRD) must submit a copy of their register before 1 May 2025. Any subsequent changes to the register must be reported to the Registrar within one month of the change using Form IM12 – Notice of Change in Register of Directors.
The register of directors must include all information required under section 101 of the Act, including:
- The names and business or residential addresses of all directors.
- The date of appointment of each director.
- The date on which any director ceased to hold office.
The new requirements provide no exemption or exclusion for 2006 Act companies that are already in the dissolution or winding up process. It applies to all 2006 Act companies that are live on the register.
Requirements for companies incorporated after 1 April 2025
Companies incorporated under the 2006 Act after 1 April 2025 will be required to submit their register of directors within one month of the appointment of their first directors. Any subsequent changes to the register must be reported to the Registrar within one month of the change using Form IM12 – Notice of Change in Register of Directors.
Form IM13 – Notice of Ceasing to File a Copy of Register of Directors will no longer be accepted after 1 April 2025 and will be removed from the Registry’s list of available forms.
Further improvements to online services available through the Central Registry are planned as part of efforts to digitise processes for customers, and in line with the Isle of Man Government efficiencies programme.
