Isle of Man Budget announces major review

Professional Adviser
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Isle of Man Treasury Minister Allan Bell has announced a high level review of the island's banking and captive insurance sectors, following the completion of a major report reviewing its funds sector.

In his 2007 Budget speech today, Bell revealed a number of recommendations to come out of the recently completed funds sector review, including the introduction of a new specialist fund category and a focus on the target market of front and middle office functions of London-based alternative fund managers, as well as managers in other key fund centres. The review, chaired by international funds expert Paul Smith, also recommended a revised offering to fund managers to include a tailored business proposition for location to the island, and a set up assistance package. In addition, Bell an...

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