Just miles off the coast of the UK, Britain’s crown dependencies smell opportunity in the air. Typically known for their tax-friendly regulation and as an outpost for wealthy entrepreneurs, the Isle of Man, Jersey, and Guernsey have all introduced new legislation allowing for easier investment in a new and emerging market – medicinal cannabis cultivation. In January, the Isle of Man’s parliament approved plans to sell licenses to grow and export cannabis for medicinal use. As a crown dependency, like both Guernsey and Jersey, it is self-governing – meaning it does not need to wait for permission from the UK government. Enterprise Minister Laurence Skelly said new regulations on cannabis cultivation had been a “long time coming”. He’s hoping the island can steal a march on the UK. “We want to make sure it [medicinal cannabis] is a high-quality product so we’re at the top end of the market and we’re attracting the right investment. We’ve put the framework in place and already the interest has been fantastic,” he said.

420 Intel – Marijuana Industry News, 04/05/2021 20:00:00

Open article: https://420intel.com/articles/2021/04/06/how-britains-crown-dependencies-plan-cash-cannabis