Isle of Man business relocation gets massive boost from government's Enterprise Development Fund ("EDF")

The Isle of Man Chief Minister Allan Bell MHK has announced plans for a new £50million Enterprise Development Fund to support continued economic growth via the creation of new business and jobs on the island.

Modelled on similar UK regions' development funds, the EDF will aim to continue supporting existing Isle of Man businesses but also look to assist those businesses looking to relocate to the Isle of Man.  A Consultation Document provided by the Isle of Man's Department of Economic Development (DED) finds clear determination to attract businesses to the island in particular "to attract larger businesses wishing to scale up their export led business to the next level or to enter a 'commercialisation stage' of an existing project, by relocating to the Island and creating new employment."  There is also a proposal to assist "established businesses and incoming businesses to expand, particularly those providing their goods and services to off island customers, which generates further employment on existing proven business models."

Whilst this is still at consultation stage it is an exciting opportunity that awaits further development over the coming months.

Should you wish to gain further insight into business or personal relocation to the Isle of Man then please feel free to speak with Michelle or Lee Murphy on 00 44 (0)1624 612888 or email [email protected].

Relocation Options - August 2015