Isle Of Man Secures Prestigious New City Office

by Jason Gorringe, Tax-News.com, London

07 December 2005

Isle of Man Treasury Minister Alan Bell has announced that the Manx government has secured an office suite in the City of London which will be used primarily as a base of operations for the Island’s business community and to encourage stronger links with the City, Europe’s largest international finance centre.

The first off-Island established business premises the Isle of Man government has opened, the office, situated at no.1 Cornhill, is positioned in one of the most prestigious business locations in the heart of the financial district of the City.

The Isle of Man office contains private meeting rooms and a general office area on the second floor overlooking the Bank of England. The operation will be managed by Isle of Man Finance, a division of the Treasury responsible for the development and promotion of the Island for financial services. The managed facility also offers a clubroom for informal meetings. Eight additional meeting rooms are available along with a stunning circular boardroom on the 4th floor.

Whilst this facility is primarily designed to provide office services for Isle of Man companies to operate from whilst working in London, staff from Isle of Man Finance will also use the premises as their London base. The office suite will be used to increase marketing and promotion of the Island’s financial services in the City and to host international media briefings.

Commenting on the decision to acquire the office space, Mr Bell observed that: "With a steady increase in demand for our products and services in London, having a presence there will offer a strong base for the many local companies who secure business via City professionals.

"These offices are exceptionally well appointed and reflect positively on the image of the Island. I very much look forward to local businesses joining our team and working with us to increase business flows between the two centres."

Andrew Ashworth, Chairman of the Finance Committee of the Chamber of Commerce also welcomed the new initiative, noting that it will raise the Isle of Man's profile in what is generally accepted to be its primary market.

The office will be officially opened by the Treasury Minister during January and operational in the New Year. Local businesses will shortly be contacted to invite them to apply for membership to this facility.

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