CSP regime will meet global standard

Offshore centres frequently find themselves actually applying higher standards than their onshore counterparts. Licensing and supervision of corporate service business, for example, is rarely found elsewhere in the world. New draft legislation for the licensing and supervision of corporate service providers (CSPs) has been prepared on the Isle of Man and is beginning its passage through the legislature. The new regime will rely on accepted principles governing the fitness and properness of those owning and managing CSPs, the conduct of business, due diligence in looking after client compani...