The Isle of Man is the jurisdiction most preferred by non-UK companies wishing to incorporate when listing on London’s Alternative Investment Market (AIM), new research by financial data provider Hemscott has revealed.
The survey, which examined the top 100 non-UK companies currently listed on AIM, reported that 15 are incorporated in the Isle of Man. This is more than twice as many as from second placed Bermuda (six), or third placed Canada (five).
Commenting on the findings, Allan Bell MHK, the Isle of Man Treasury Minister, observed that: "The Island's favourable taxation, legal, and investment environment makes it an attractive proposition to companies seeking a market listing. We are delighted to be recognized for the important role we are playing through providing global companies with a gateway to the City of London's thriving capital markets."
Andrew Corlett, managing director of Cains, the Isle of Man based law firm which has advised on 14 listings in the past 12 months, added:
"An increasing number of international companies are choosing to list on AIM via an external domicile of incorporation, and their quality is reflected in the current strength of investor appetite. As our own experience reflects, India and China in particular are choosing the Isle of Man as their preferred jurisdiction, and we believe this trend will continue to represent a key growth area for the Island's business."
Cains are currently ranked first by Hemscott for law firms by number of AIM 100 clients.
The research also reveals that the combined market capitalisation of those 'top 100' companies incorporated in the Isle of Man amounts to GBP5.2 billion (US$10.4 billion).
Meanwhile, when all companies listed on AIM are taken into account, the number incorporated offshore in the Isle of Man totals 46, with an overall market capitalisation of GBP7.5 billion.
A comprehensive report in our Intelligence Report series looking at offshore and onshore corporate structures and their tax implications is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report7.asp
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