Isle of Man: eIOM Press Release - E-Commerce Advisory Service Launched In Isle Of Man

Last Updated: 11 October 1999

Leading offshore jurisdiction the Isle of Man has witnessed the launch of a new dedicated e-commerce advisory service, eIOM, designed specifically to assist international businesses and entrepreneurs to evaluate and exploit the Island’s significant advantages as an e-commerce centre.

Four leading businesses based in the Isle of Man have combined to provide the integrated e-commerce advisory service under the brand eIOM. The service harnesses the strengths of international lawyers Cains, world-wide accountants Deloitte & Touche, respected web experts Creative Online Media (Isle of Man) Limited and telecoms provider Manx Telecom (a wholly owned subsidiary of BT).

The service, full details of which are available on www.eIOM.com, is intended to promote the Isle of Man as an ideal centre for the location of e-commerce and internet linked businesses and to offer such businesses the opportunity to use the complementary services of the four members of the eIOM Team.

Commenting on the launch of the service, representatives of the eIOM Team commented as follows:-

  • David Sherlock of Cains confirmed that:-

"The Isle of Man’s existing legal infrastructure is conducive to the development on Island of international e-commerce businesses and the legislation in relation to Electronic Signatures and ISP liability, to be enacted shortly, will provide confirmatory certainty in relation to electronic transactions to ensure maximum reliance on the medium. The Isle of Man Government’s enlightened minimalistic approach to e-commerce is entirely appropriate in relation to this sector, which is both dynamic and unpredictable. From a legal infrastructure perspective the Isle of Man represents an excellent e-commerce centre. As part of the eIOM Team we are keen to see such infrastructure used and, as a law firm with a substantial international client base, we are ready to advise in relation to all aspects of e-commerce."

  • Nick Williamson of Deloitte & Touche commented that:-

"We consider that the Isle of Man is extremely well positioned to offer itself as an attractive location for the set up of international e-commerce. The legislative framework already exists to provide significant direct tax advantage to multinational corporations in that their internet trading subsidiaries can be established and operated from here without a charge to local corporate income tax arising. Furthermore substance can be given to these operations by appropriate company personnel relocating to the Island to build and develop such companies. It is the capability to provide this substance which sets us apart from our main rival offshore centres and will demonstrate that that these new companies are genuine commercial concerns."

  • David Butterworth of Creative Online Media (Isle of Man) Limited commented as follows:-

"Though still in its infancy, e-commerce is already proving revolutionary in some sectors. You only have to witness what is occurring in retail, manufacturing, and financial services. In each instance, new companies and new category leaders have emerged or existing companies have been compelled to change their business models dramatically. At eIOM we believe e-commerce is the future, and that the combined expertise of eIOM can make e-commerce a reality."

  • Ralf Ohlhausen of Manx Telecom Limited observed that:-

"In the internet world geography is irrelevant, so why not go offshore. Offshore e-commerce is a compelling approach. Manx Telecom, as a wholly owned subsidiary of BT, provides leading edge communications infrastructure locally and world class connectivity globally through its parent company. This puts the Isle of Man in the advantageous position of being served by one of the leading players in the global communications business. We already provide a multiple of the internet bandwidth available in other comparable offshore locations and we will now launch high quality, high security and high performance web hosting services . This should attract the serious e-commerce businesses we are looking for."

The eIOM Service is targeted primarily at established international business to business organisations, but the eIOM Team anticipate that Internet entrepreneurs may also need assistance from the eIOM Team.

Commenting on the launch of the new service, David North MHK, the Isle of Man’s Minister for Trade and Industry, said that "the future of the Isle of Man economy is inextricably linked to e-commerce and this initiative is warmly welcomed".

For further information contact:

General information and enquiry's

eIOM
PO Box 152
Douglas
IM99 2PW
Isle of Man

Email: info@eiom.com

Cains
David Sherlock

Tel: 00 44 (0) 1624 638300
Fax: 00 44 (0) 1624 638363
Email: sherlock@cains.co.im

Deloitte & Touche
Nick Williamson

Tel: 00 44 (0) 1624 672332
Fax: 00 44 (0) 1624 672334
Email: nick.williamson@deloitte.co.uk

Creative Online Media (IOM)
David Butterworth

Tel: 00 44 (0) 1624 680800
Fax: 00 44 (0) 1624 680803
Email: david.butterworth@skanco.co.uk

Manx Telecom
Ralf Ohlhausen

Tel: 00 44 (0) 1624 636005
Fax: 00 44 (0) 1624 636011
Email: ralfo@manx.agw.bt.co.uk

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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