IOM Launches Promotional Initiative From London

by Amanda Banks, Tax-News.com, London

20 October 2010

The Isle of Man government has announced that it will shortly be launching an initiative to enhance its representation and presence in London, and, from there, the UK.

Under the island’s plans, the Department of Economic Development will be appointing an individual as Head of UK Business Development, to be based in London, to represent the Isle of Man’s interest in the City.

The new appointee will have a mandate to generate new business for Isle of Man companies and to increase awareness of the island both within this key market and throughout the UK in general.

Under the initiative, the government is negotiating with Isle of Man firms for one with a London office to partner with the Department. Under this arrangement, the island will have additional physical presence in the City, and the firm would provide advice and guidance to potential customers on the benefits and opportunities of doing business with the Isle of Man. Effectively, it would establish a base for governmental operations from London.

The latest move will see the closure of the island’s unmanned London office, which has been used by island companies when meeting clients in London.

Tim Craine, Director of the DED’s Business Development Agency, commented: “The new arrangements will provide an excellent opportunity for us to push forward with promoting the Isle of Man to the key London market and within the UK.”

“We feel that this reorganisation of our representation in London is critical in keeping the island competitive and adds significantly to our ability to attract business for the Isle of Man.”

Minister for Economic Development, Allan Bell, added: “Having an effective presence in London is crucial to our ongoing efforts to develop business opportunities and the consequent benefits to our economy this will bring.”

“The private sector has been calling on the government for some time to take this type of initiative and we now consider that the time is right for the progression of our London presence. I hope that our business community will embrace these new opportunities.”

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