The Isle of Man Companies Act 2006, also known as the 2006 Act, is a law which permits the incorporation of a flexible and modern corporate vehicle which was originally known as the New Manx Vehicle.
Incorporation of 2006 Act companies commenced in the Isle of Man on 1 November 2006.
In 2003, two Isle of Man law firms Cains, and Dickinson Cruickshank (now Appleby) began to jointly lobby the Isle of Man Government to enact a new legislation for a New Manx Vehicle (NMV) which could compete on equal terms with the International Business Companies being turned out in the thousand by the British Virgin Islands (‘BVI’).
Company number 1v was formed by Middleton Katz Chartered Secretaries LLC[1] on 1 November 2006.
By the end of 2013, over 10,000 Companies had been incorporated pursuant to the Isle of Man Companies Act 2006 and of those, according to Isle of Man Government statistics, 5637 remained on the register on 31 December 2013.