The London Stock Exchange credits the Isle of Man with aiding foreign investment in its expanding Alternative Investment Market. AIM is the exchange’s global market for smaller, growing companies and welcomes good operations from overseas.
Of the 1,685 companies currently listed on AIM, 409 have operations based in countries outside the UK. A total of 57 are incorporated in the Isle of Man with 15 appearing in the top 100 – the highest number of incorporations made by any single offshore jurisdiction.
Key Business Conduit
The Isle of Man’s ease of access to City institutions, coupled with its reputation as a centre of excellence in specialised professional expertise, has resulted in it becoming a key conduit for attracting high quality business from major emerging markets. Business particularly likes the Island’s commercial flexibility and zero rate corporate tax.
The Island’s role in ‘internationalising’ AIM was highlighted at its annual conference, where keynote speakers were Isle of Man Finance’ Brian Donegan, and Dan Mackelden who heads up the London office of Island law firm Cains.
Premier Growth Market
‘Over 500 international companies have taken the route to AIM,’ said Mr Mackelden. ‘This is an indication of the way the market has evolved – it is now considered the world’s premier growth market.
‘At Cains we’re continuing to experience this at first hand advising on listings involving companies from key emerging markets, including China and India. AIM is becoming a great starting point for many growing and dynamic international companies.’
Cains estimates that the Isle of Man helped raise more than £1.6 billion for Indian business last year alone. The firm is the only Island member of Lex Mundi, the world’s leading association of international law firms and was the first local firm to open a permanently staffed London office. A major area of the firm’s business is now advising clients working in international financial services, e-business, the space and satellite industry, shipping and capital markets.
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