Leading Chinese LED manufacturer establishes presence in Isle of Man as springboard to drive its UK and Europe business
Shanghai Linso Digital Technology Co., Ltd. (LINSO), a leading Chinese manufacturer of commercial LED solutions, has recently set up a company in the Isle of Man to facilitate its new export drive into the UK and Europe.
Established in 2005 LINSO develops, manufactures and markets a wide range of LED solutions ranging from display, mobile media and low energy lighting for customers worldwide.
Minister for Economic Development John Shimmin MHK said:
‘We would like to applaud LINSO for its far-sightedness and vision in choosing the Isle of Man as its European business location. As a gateway to Europe, the Isle of Man is well poised to support Chinese companies like LINSO to introduce their products or services to the continent. LINSO Europe Ltd. is a good example of what the Isle of Man can do for Chinese companies looking at ‘Going Global’.’
In view of the growing demand on its product offerings in the UK and Europe, LINSO decided to set up a trading company in the Isle of Man to facilitate its business development in these markets as the Isle of Man is an advantageous business location for this.
Called LINSO Europe Ltd, the new Isle of Man company has already exhibited at a major show in the UK and taken its first orders within a few months of setting up.
Director and founder of Shanghai Linso Digital Technology Co Ltd, Mr Chen Jian said:
‘We had already evaluated several location options before making our decision about the Isle of Man. It is a ‘no-brainer’ to select the Isle of Man as it offers a number of benefits. The Isle of Man is a tax neutral area (zero per cent) regarding profits of companies and for those enterprises like LINSO that want to set up to trade in the EU the Isle of Man offers a great base from which to trade freely with the UK and EU.
‘Through establishing a presence in the Isle of Man, the necessary VAT registration can be readily obtained along with access to automated customs clearance systems; the goods do not have to go to the Isle of Man as they can go straight to their market from China in bulk, for instance to a UK customs warehouse prior to the sale of the individual items by the Isle of Man company and then into free circulation in the EU.’
Mr Chen added:
‘I found it is easy to set up my company in the Isle of Man and all possible assistance was provided by the Isle of Man Government. With their help I quickly found the professional and other business support services I needed, including a local partner.
Local firm Duke Marketing is the partner in LINSO Europe with responsibility for all marketing, sales and distribution of LINSO products.
Peter Duke, Joint Managing Director of LINSO Europe Ltd, said:
‘I am delighted that the LINSO brand has got off to a flying start in Europe with over 30 active sales enquiries being dealt with and two firm orders for large screen video displays within the first few weeks of marketing activity.
‘I am especially proud that, within 7 weeks of our first meeting with Mr Chen, we were able to launch at a major London trade show, set up a European version of the website and produce a digital catalogue of display products.
‘The Isle of Man has a long association with speed in sport, and we can deliver speedy business performance too! LINSO has some great products and we look forward to delivering a strong trading performance in Europe with both LED displays and lighting.’
Category: Finance & Business