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INTERNATIONAL FOCUS MAY 2016:IN FOCUS AUTUMN 2010 25/04/2016 10:19 Page 1 May 2016 Enhanced commitment on beneficial ownership he Isle of Man Government has T committed to enhancing ISLEXPO event the effectiveness of arrangements for sharing will celebrate beneficial ownership information with the United innovation Sir Chris Hoy Kingdom. will open Chief Minister Allan Bell MHK said: ISLEXPO ‘This has been achieved through The inaugural ISLEXPO is ongoing constructive discussion and is taking place in May to an important demonstration of our support innovation and long-standing partnership to tackle entrepreneurialism in corruption, tax evasion and other the Isle of Man. serious criminality.’ The one-day The arrangement commits to conference is aimed at providing Isle of Man and United inspiring and developing Kingdom law enforcement agencies local enterprise and with adequate, accurate and current encouraging beneficial ownership information on all businesses to relocate corporate and legal entities to the Island. incorporated in their jurisdictions. Laurence Skelly Arising from this commitment MHK, Minister for the Isle of Man will be establishing the Department of and maintaining a central Economic electronic database of beneficial Development, ownership information. said: ‘ISLEXPO ‘The Isle of Man is not a place will be a fantastic where criminals can find a welcome,’ opportunity to the Chief Minister added. gain valuable ‘We have a strong track record of advice from world- compliance with international class speakers, standards and this commitment with including Sir Chris the United Kingdom will further Hoy MBE, as well as strengthen our defences against receive hands-on criminal activity. training from the likes ‘A truly global approach to tax of Google Digital transparency and information sharing Garage. The event is set is needed to fight the scourge of to kick start the Department’s serious crime. As a well-regulated and £50million Enterprise internationally responsible country, the Development Scheme and Isle of Man is committed to playing its celebrate the entrepreneurial part in efforts to achieve meaningful spirit of the Isle of Man.’ progress.’ INTERNATIONAL FOCUS MAY 2016:IN FOCUS AUTUMN 2010 25/04/2016 10:19 Page 2 Isle of Man Trade agreement becomes part of SEPA with Shanghai The Isle of Man has become part of the MOU strengthens Isle of Man’s relationship with China geographical scope of the direct debit and credit transfer schemes of the Single Euro Payments Area (SEPA). he Isle of Man has signed a This is a significant development Memorandum of that will enable banks in the Island to T Understanding (MOU) with apply to join the SEPA schemes, which the Shanghai Municipal facilitate fast and secure cross-border Commission of Commerce in transfers in euros. China. The Isle of Man has worked in Economic Development Minister partnership with Jersey and Guernsey Laurence Skelly MHK led an Isle of Man to progress this matter and put in place business delegation in April to foster the relevant legislation to meet SEPA cooperation on economic, trade and Shanghai is the leading financial centre in requirements. investment matters between the two China and its Free Trade Zone is integral in Economic Development Minister regions. China’s endeavour to liberalise conditions Laurence Skelly MHK said: ‘This gives The Minister signed the MOU with Ms for trade with the rest of the world. banks in the Isle of Man the Yuying Shang, the Chairman of the ‘The MOU gives us the opportunity to opportunity to join the SEPA direct Shanghai Commission (pictured right). work together for the long term to benefit debit and credit transfer schemes and Minister Skelly said: ‘This is an both regions and provide wider commercial offer customers the benefits that these important step forward in solidifying our opportunities to engage with the Shanghai secure and efficient schemes provide relationship with China and its regions. region.’ for payments in euros.’ Reinforcing defences against money laundering The Isle of Man Government has updated comprehensive recommendations issued ‘Money laundering and terrorist its stance against money laundering and by the Financial Action Task Force, the financing present global threats, against the financing of terrorism with a new global anti-money laundering organisation which all countries have a responsibility to national strategy. established in 1989 by the G7 countries provide robust defences. This is a The document sets out priority goals and the European Commission. responsibility that the Isle of Man takes and actions identified following a review of Undertaking a national risk assessment particularly seriously. existing defences – a national risk is now a recommendation of the Financial ‘As a recognised centre for assessment (NRA) – carried out across the Action Task Force. The process helps international business and finance, the public and private sectors in 2014/15. governments and business to allocate anti- Island is home to many successful The NRA was conducted ahead of this money laundering resources to where they companies which have a significant year’s evaluation of the Isle of Man by are most needed and most effective. presence around the world. MONEYVAL, the Council of Europe body Chief Minister Allan Bell MHK has ‘We are determined to protect the which monitors compliance with the latest spoken of the Island’s ‘continuing reputation and integrity of our business international standards against money commitment to uphold the highest community by ensuring that the Isle of laundering and terrorist financing. international standards in protecting our Man is not a place where criminals can Standards are set in the form of economy against criminal abuse.’ find a welcome.’ in fact The Isle of Man is situated in the middle of the Irish Sea The Isle of Man is a self-governing British Crown at the centre of the British Isles. It is 33 miles (53km) Dependency with its own government and laws, made long and 13 miles (22km) wide at its broadest point, in Tynwald, which was founded more than 1,000 years with a resident population of 84,497. ago and is the world’s oldest continuous parliament. The Island has a distinct cultural and political identity. It is the policy of the Isle of Man Government to be It is not, and never has been, a part of the United both economically competitive and internationally Kingdom. Nor is it part of the European Union, with which responsible in supporting the interests of its people. it has a special and limited relationship allowing for free More information about the Isle of Man trade in agricultural and manufactured products. Government can be found at www.gov.im INTERNATIONAL FOCUS MAY 2016:IN FOCUS AUTUMN 2010 25/04/2016 10:19 Page 3 Hollie looking forward to studying in Idaho Former Ramsey Grammar School student Hollie Jaques is the winner of the 2016 Ella Olesen Scholarship. Hollie will follow a long line of local students in spending nine months at the University of Idaho in the USA. The scholarship is named after a former registrar of the university who died in 1985. Her Manx ancestry – her mother Margaret Teare was born in Ballaugh and emigrated to America in 1890 – led her to gift the scholarship in 1971. It is awarded annually to a female degree student who has been supported through her studies by the Department of Education and Children. Hollie, 21, is studying politics and geography at the University of Glasgow Festival Interceltique de Lorient, where, in endorse Manx culture abroad and promote and plays an active part in many aspects 2015, she participated in events for the Island internationally. I am also keen of university life, not least sharing her dignitaries and was interviewed for French to see more of the world and meet new passion for Manx dancing with fellow TV. people. students. She has won two North American Manx ‘The scholarship, which brings with it She has represented the Island at Awards for her contribution to culture. the opportunity to fly the Manx flag, is the numerous Celtic festivals, including the Hollie said: ‘I am keen to continue to perfect next step in my life.’ Island students Visit helps to strengthen links learn Japanese with Mexico The Mexican Ambassador to the UK, His Excellency Diego Gomez Pickering, Linguistic diversity celebrated within education system recently visited the Isle of Man. The Ambassador is visiting UK cities and the Crown Dependencies to tudents in the Isle of Man Japanese pop culture such as anime strengthen links and friendships with (cartoons), music and fashion. are learning one of the Mexico. world’s most difficult ‘Our own Beckii Cruel is a celebrity in S His Excellency was accompanied by Japan. There are several Manx-themed languages. Evelyn Vera-Barreto, Head of Education restaurants in Japan and a folk group in Pupils from two high schools are and International Cooperation at the Tokyo that plays Manx music.’ working together to learn Japanese in an Mexican Embassy in London. Japanese uses three writing systems as initiative supported by the Japan The strength and diversity of the well as the Roman alphabet. One of these Foundation, which promotes international Island’s economy and its priorities to systems, alone, has 1,945 characters. cultural exchange. ensure ongoing economic success were Often, a sentence comprises all three A grant from the foundation has high on the agenda at the meetings. systems. purchased learning materials and paid for The Chief Minister said: ‘The visit Mr Teare added: ‘In the Isle of Man, books. allowed us to explore ways of pupils are lucky as linguistic diversity is Rob Teare, Head of the Manx Language extending business, education and celebrated by our inclusive and ambitious Unit and a fluent Japanese speaker, cultural links between our two countries education system.
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