What do the Isle of Man and Jersey have in common? Both are small. The Isle of Man is approximately 30 miles long and 10 miles wide. Jersey by comparison is 5 miles long and 9 miles wide. Both have beautiful coast lines and lovely walks, castles and a zoo. Both are Crown dependencies, so they govern themselves and hail many tax benefits for their residences and businesses. Both are worth a visit and have one more thing in common... a British business that is projected to soar in the next 4-5 years, from £9.6 million to £293 million per year! Does that make you woozy? So what is this booming, mystery upstart?
Cannabis. Yes Cannabis! Both islands are now cultivating this plant for export to meet the demand for medical marijuana. One of the benefits of both islands being self-governing include their Parliament granting them both a license to grow and export this, in demand plant. That's not to say the mainland are not cultivating already, but a 0% corporation tax on the islands compared to the mainland’s 19% may just be enough to start attracting giggling investors offshore.
So, the next time you are visiting either of the islands and you take a leisurely walk on one of the many scenic coastal trails. Do not be surprised if you find you self stopping and staring into the distant sunset, contemplating where the horizon starts and indeed stops, whilst you tuck into your third bag of chocolate buttons!
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