Discuss an Opportunity
An existing island company, carefully assessed and transferred, with the people and practical support to help you move forward.
Speak directly to DarrenStarting a new company is not always the right answer. Through our business relationships on the Isle of Man, Possible Limited identifies existing companies whose owners are ready to sell. Some are brought to us by the owners; others are sourced through our network. They are often former operating businesses that have ceased trading and are now dormant.
We assess each opportunity before presenting it to a prospective buyer. That includes the seller’s authority to sell, the company’s history, accounts, ownership, obligations and any registered charges. We work with appropriate professional advisers to establish what can be evidenced and what further investigation is needed. An existing company should be purchased with a clear understanding of its past, not simply its registration date or bank account.
Possible Limited enters into a service agreement with the seller and acts as their appointed representative through the sale. We coordinate the discussions, documentation and transfer, providing a single point of contact for the buyer. We do not ordinarily arrange a direct introduction to the seller, although the identities and information needed for legal, financial and banking checks are disclosed at the appropriate stage.
Our first conversation with a prospective buyer is about suitability: what the business will do, who will own and direct it, what banking it needs, and whether the available company is an appropriate fit.
Once both parties wish to proceed, the buyer signs Possible Limited’s engagement agreement. Where we will provide resident directors, a separate commercial service-directorship arrangement sets out that role, its responsibilities and ongoing costs. The agreed purchase price, fees, conditions and payment stages are recorded before the transaction begins.
Following engagement and in line with the signed purchase terms, the buyer pays the first 50% through the agreed payment arrangement. Possible coordinates the transaction with the seller and the advisers handling the transfer.
The share transfer and changes to the company’s records are prepared and checked. The buyer receives the existing certificate of incorporation, together with the appropriate updated ownership documents and share certificates. Once the agreed transfer conditions and documents are complete, the remaining balance becomes payable under the contract.
Where the company has an existing bank account, we work with the bank on the proposed change of directors, authorised signatories and beneficial owners. If Possible is providing a resident director, a staged handover may allow that director to be approved first, followed by the buyer’s authorised parties and revised banking mandates. Former directors leave their roles as the agreed corporate and banking steps are completed.
Every acquisition turns on the company’s history and the buyer’s intended use. To discuss whether this route is suitable, contact Darren directly.
Email Darren, CEOdarren@possibleltd.comAn existing account can make the route more practical, but its continued use and every change of access remain subject to the bank’s own checks and approval. We coordinate the process; no account or timetable can be guaranteed in advance. Company history and potential liabilities require independent legal, accounting and tax review. Possible coordinates with appropriately licensed providers where required.