The role of a Registered Agent is commonplace throughout international corporate jurisdictions. The Isle of Man formally created the role of a Registered Agent when enacting the 2006 Companies Act. In the Isle of Man, the Registered Agent has a fundamental role to play with 2006 Act companies and is the key person responsible for ensuring that a 2006 Act Company is properly administered.
Cavendish Trust holds the necessary licence to act as a Registered Agent who:
- must be a ‘person’ who holds a corporate service provider’s license, granted by the Isle of Man Financial Services Authority under the Isle of Man Financial Services Act 2008. This indicates the reliance placed on the registered agent by the Isle of Man Financial Services Authority and the importance of the role played by the Registered Agent. Cavendish Trust holds the necessary licence to act as a registered agent.
- is the only ‘person’ permitted to make certain filings with, and submit certain applications to, the Isle of Man Registrar of Companies.
- must ensure that it holds and maintains various statutory registers and documents at the office of the company’s Registered Agent (which is usually the same as the company’s registered office). The documents which a Registered Agent must hold by Statute are as follows:
- – memorandum and articles signed by each subscriber;
– register of members;
– register of directors;
– register of charges;
– copies of all notices and other documents filed with the Registrar in previous 6 years;
– its accounting records
– directors and members minute books.
In essence, the responsibilities placed on a Registered Agent are tantamount to that of a Director and includes a strict requirement to understand the company’s activities at the outset and on an ongoing basis. Procedures, therefore, need to be in place to manage the flow of appropriate information on all companies for which registered agent services are provided.
Cavendish Trust has significant experience in acting as Directors and with the administration of companies.
Please contact either of the following members of our team with any Registered Agent enquiries: