Chief Minister Howard Quayle says he is looking forward to hosting a visit by MPs Dame Margaret Hodge and Andrew Mitchell next week.

The two MPs will be here on Monday to press the case for the Manx government to create a public register of beneficial ownership.

Currently, the island’s central register of the real owners of companies is accessible only to law enforcement and tax officials.

An amendment to the Sanctions and Anti-Money Laundering Bill tabled in the House of Commons in April to force the Crown Dependencies to create a public register was withdrawn.

But a similar proposal for the British Overseas Territories was voted through and Dame Margaret and Mr Mitchell believe the Crown Dependencies should adopt an open register too.

Mr Quayle said he will be engaging in ’constructive dialogue’ with the two MPs.

And he says the visit will enable him to promote awareness of the island’s constitutional position and record of compliance with international standards to combat tax evasion, money laundering, corruption and the financing of terrorism.

Dame Margaret and Mr Mitchell will meet the Council of Ministers, senior officers and members of the business community.

The Chief Minister said: ‘I am pleased Dame Margaret and Mr Mitchell are taking up our invitation to visit.

‘I believe this visit is an opportunity to demonstrate that we are an island that takes its international responsibilities very seriously.’

Mr Quayle added: ‘The Isle of Man is not a place that welcomes tax avoidance or money laundering in any way.

’We have robust systems in place that allow us to fully co-operate in the exchange of information with law enforcement and tax authorities.’This allows us to share beneficial ownership information with relevant authorities within 24 hours of them requesting it, making ours one of the most efficient and effective cooperation processes globally.’