The Isle of Man’s Ever-Growing Economy
The Isle of Man's Ever-Growing Economy IQE is an Isle of Man based business specialising in providing multijurisdictional fiduciary services for international structures. David Karran, Managing Director, talks us through IQE’s work and how they have adapted to the challenges in their region.
Company: IQE Limited Name: David Karran Position: Managing Director Email: firstname.lastname@example.org Web: www.iqe.im Tel: +44 (0) 1624 689589
IQE is a leading international licensed fiduciary services provider with its headquarters in the Isle of Man and an associate office in Mauritius. The Isle of Man business is licensed by the Isle of Man Financial Services Authority This year marks the 15th anniversary of IQE and during this time the business has been involved in many exciting and ground-breaking projects across five continents including significant property developments, managing substantial family offices and listing international businesses on public exchanges. The Isle of Man has one of the fastest growing economies and has recently celebrated its 31st year of continuous growth. The financial services sector has been central to this success story and will provide a robust platform for further growth and
diversification. The strong professional community, world class IT infrastructure, robust legal and regulatory framework and an abundance of physical space are key drivers. The international fiduciary sector is highly diverse, dynamic and often challenging. In recognition of this, IQE has followed three key strategic themes that are central to its success. • • •
A focus on quality and exceptional standards of service The importance of substance A nimble and international outlook to its business development activities
In line with these strategies, IQE has continuously invested in the skills, knowledge and professional development of its team, technological infrastructure and, through the establishment of IQE in Mauritius, the wider business is able to access and develop relationships with new and exciting markets. With a population of 85,000, the Isle of Man is a small jurisdiction however this does allow the Island to take a dynamic and innovative approach towards the continued development of its economy. A key Isle of Man Government initiative in this regard is Vision 2020 that sets out how the Island’s public and private sectors can collaborate to diversify and grow the economy including increasing the population. In support of this the Isle of Man Government recently announced the Enterprise Development Scheme of £50m that will provide grant, loan and equity investment to start-up, existing and expanding business wishing to relocate to the Island. The final quarter of 2015 is a busy time for IQE. The business relocated to the historic North Quay area of the Isle of Man’s capital, Douglas, during the summer and a number of events are planned to mark this and its 15th year in business. IQE’s geographically diversified, international client base are highly active and recent and upcoming transactions include a potential listing on a sub-Saharan public exchange, the development of a major commercial property in Europe and the acquisition of a private jet for a family based in the Far East. Looking further ahead, challenge and opportunity will continue to go hand in hand but IQE are confident of it’s and the Isle of Man’s ability to grow and be successful.
90 Acquisition International - December 2015