The Isle of Man Superyacht Forum (IOMSF) has launched a new ‘affiliate membership’ category to satisfy requests from non-local companies to join. The launch was announced at a reception held at the UK’s London Yacht, Jet & Prestige Car Show last week.

Affiliate members will have access to all the benefits of full members with the exception that they will not be able to vote. This includes attending any IOMSF events, such as its annual gathering at the Monaco Show; entitlement to use the IOMSF logo on stationary; and to be listed on the organisation’s website. Full IOMSF membership is only available to companies based in the Isle of Man.

Two companies interested in becoming affiliate members were represented at the reception. These were the UK legal practice Shoosmiths and Palma-based Network Marine Consultants (NMC). Patricia Bullock, managing director of NMC, has been to the island on a number of occasions to explain to the Forum the current situation related to tax and chartering in Spain.

Against the background of such recent happenings as the Panama Papers, a series of speakers representing related government departments and business sectors clearly stated the IOM’s strategy of promoting full visibility and accountability in respect of the ownership of luxury assets. The IOM has been at the forefront as an offshore jurisdiction of being open and supportive of such recent initiatives as the G5 agreement over offshore funds.

The IOMSF was formed in 2004 to promote the wide range of professional services provided by its current 28 members in respect of superyachts and other luxury assets. These services include corporate banking, financial and legal services, yacht registration and importation, crew, security, IT and project management services, and technical and compliance offerings.

Included amongst the 28 members are Affinity Management Services, Döhle Private Clients, Dominion Marine, Equiom (Isle of Man) Ltd, MHG Insurance Brokers, Moore Stephens Isle of Man, Pelagos Yachts and PriceWaterhouseCoopers.