Isle of Man Opens License Applications for Cannabis Exports
The Isle of Man is now welcoming license applications for the production, distribution, and export of medical cannabis.
The government of the self-governing British Crown Dependency first announced its intention to legalize medical cannabis production in January.
Now, the island’s cannabis regulator, the Gambling Supervision Commission (GSC), has opened its applications process for cultivation licenses, which could cost between £250 (US $354) and £45,000 (US $63,716).
“The Isle of Man Government has every confidence that the GSC will provide a world class regulatory structure required to regulate this new and complex industry,” the island’s minister for enterprise, Laurence Skelly, said in a statement.
“I am delighted to welcome licence applications and look forward to attracting quality businesses to the Island, transforming the cannabis export sector into a key contributor to the Isle of Man’s post-COVID economic recovery.”
The island’s government has stated that it expects its new cannabis sector to create 250 new jobs and £3 million (US $4,247,700) in annual benefit in the coming years.
Consuming cannabis recreationally on the island will remain illegal.