Understanding the ESF
The ESF
Vision
The Isle of Man Economic Substance Forum (“ESF”) is a private initiative of business owners and industry professionals who mutually agree that the Isle of Man will benefit from a conglomerate of businesses working together towards encouraging others to establish a real physical presence in the Island.
The ESF aim is to encourage and develop the Islands economic attractiveness across different sectors, bringing more skilled and professional workers to the Island, whilst boosting the effectiveness of existing resources for new and existing clients in the Island.
Operating as an “incubator” the overall purpose is to grow employment numbers in a multitude of different sectors, encourage professional and skilled labour immigration and at the same time set about filling vacant properties with those businesses looking to establish their operations in the Island.
By spreading employment across sectors, and having a broader employment base, whilst fostering local employment skills, the EFS will deliver opportunities for new and existing clients of the Island to employ locally, reducing over reliance on any one specific sector.
For this aim to be successful, the ESF will work in conjunction with strengthening private corporate governance and accountability, allowing economic diversification through attractive business control, while sustaining revenue for government and enhancing fiscal income for local businesses.
To achieve this, the Members of the ESF represent their specific industry of expertise, providing the ESF Members with professional insight into their positive contribution towards Economic Substance in the Isle of Man. Collectively our Members work together, to seek out initiatives to develop inwards investment into the Isle of Man, encouraging external businesses to establish in the Island and existing businesses to expand into the private management sector.
The success of the EFS initiatives is poised at satisfying and delivering real economic substance, which will in time demonstrate the Islands real economic activities to external critiques, and see an increase in economic activity across many sectors including hospitality and entertainment.
Becoming a Member
Membership to the Economic Substance Forum (ESF) is open to all applicants who are able to contribute positively and constructively to the aims, values, and objectives of the Forum.
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All applications for membership are subject to review and approval by the ESF Board.
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To apply, please complete the membership application form. Once submitted, a member of the ESF Administration Team will be in touch to arrange a preliminary meeting as part of the application process.
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We welcome participants who are aligned with the Forum’s commitment to promoting best practices, transparency, and informed discussion surrounding economic substance, and we look forward to your contribution.