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BO regime extends enrolment deadline

More time to register Nominated Officers

The deadline for Isle of Man firms to register new compliance officers with the Manx authorities has been extended.

Nominated officers required under the Beneficial Ownership Act 2017, can be enrolled with the Companies Registry to 1 October.

Enrolment codes for the compulsory new post issued to all Isle of Man legal entities, were due to expire in August.

The Registry says it's extended the registration deadline to avoid the expense of issuing new codes.

Around two-thirds of all IOM firms have registered their nominated officers, and of those a third have completed their obligations under the Act.

Companies Registry Manager Nick Cowell advises firms that have not so far enrolled online, to make use of the extension 'to avoid any repercussions.'

The Financial Services Authority will contact those entities which have not registered by the new deadline.

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