Blue chip opportunities to be had by Isle of Man based businesses operating in the highly competitive international wealth management sector were rolled out before an audience of leading City intermediaries.

The London conference 'Wealth Management in the Isle of Man – delivering a full service solution to professionals' was hosted by Isle of Man Finance for an audience of around 140 City based advisers and industry specialists, including accountants, lawyers and other private client consultants.

The impressively attended event explored the benefits of an Island base for family offices and their management, the expertise of Isle of Man advisers and trust and company structures, as well as asset holding and business management solutions. It also examined the strong growth in associated sectors that provide additional opportunities for wealth managers.

Wealth Management And Preservation

Central to the day's business was setting out the range of investment vehicles on offer, particularly the Isle of Man's new specialist funds regime. The £100,000 personal tax cap available to High Net-worth individuals and the highly regarded registers for aircraft and super-yachts, also drew considerable interest from delegates.

The conference was one of the first prestigious off-Island events to be chaired by the division's new Director and Head of operations, John Spellman.

Clearly impressed with the status now enjoyed by the Isle of Man in City circles, John said he was 'delighted' with the quality of delegates attending the event. It had presented a major opportunity for Government and industry professionals to work together in updating London's leading intermediaries with details of the Island's full wealth management capabilities.

Maintaining Family Wealth

He said: 'We were keen to talk to delegates about the Island's zero corporate tax regime and changes to simplify company law – also, that the Island has no inheritance or capital gains taxes. All of these financial incentives combine in making the Isle of Man the jurisdiction of choice for high net worth individuals.

'We are breaking into new areas at an increasing pace, probably much to the envy of other jurisdictions. The Isle of Man is definitely the place where you can do great business.'

A 30-strong delegation from the Island's finance sector took part in the conference, which was held at the prestigious Langham's Hotel. A schedule of similar events aimed at promoting the Island among key City sectors is being planned for 2008.

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.