The Isle of Man government is launching a roadshow in Asia for the first time, in a bid to promote its low-tax business regime to wealthy entrepreneurs in Shanghai and Singapore. 

Fiduciary provider The ILS Group, the Isle of Man Department of Economic Development, and Capital International have merged efforts to promote the Island as a platform for business in the upcoming China Offshore Summit in Shanghai in October.

The exclusive half-day event, "The International Tool Kit: Achieve Your Wealth Management Goals Through International Offshore Structures and Investments," is part of a two-day summit to be held on 26 and 27 October. It will address the benefits of partnering with a global fiduciary services provider, offshore fund structures, Isle of Man case studies and solutions targeted at high net worth individuals looking to invest offshore and how the studies are linked with China. 

The event will be attended by over 250 Chinese professionals, entrepreneurs and financial intermediaries.

The Isle of Man is attractive to entrepreneurs because of its low tax regime. The Island implements a zero per cent corporation tax, while personal taxes have a lower rate of 10 per cent and an upper rate of 20 per cent, in addition to allowances. The Island also has an open property market, with no restrictions or qualifications limiting ownership.

After Shanghai, the the ILS the Island at the Society of Trust and Estate Practitioners conference in Singapore in 1 and 2 November.

China has around 500,000 high net worth individuals, including over 200,000 ultra high net worth individuals as of the end of 2010, according to Bain & Company. High net worth refers to those with at least RMB10 million ($1.5 million) in investible assets and ultra high net worth as those with around RMB15 trillion. It also found that about 60 per cent of the country's HNWs have emigrated or are thinking of doing so.