Guernsey Finance

Delegations of politicians, officials and business leaders from Guernsey will be visiting both India and China during the second half of the year to enhance financial services links between the jurisdictions.

Carla McNulty Bauer, Minister for the Commerce and Employment Department within the Guernsey Government, will lead a delegation to Delhi and then Mumbai between Monday 18th October and Saturday 23rd October.

Lyndon Trott, Chief Minister, will then lead a delegation to Beijing and Shanghai at the start of November.

Guernsey’s Government has announced that it plans to give financial institutions a window from 1st January 2011 to 1st July 2011 for moving to automatic exchange of information.

Yesterday’s discussion in Westminster Hall on ‘Offshore Financial Centres’ highlights a growing understanding among UK MPs of small International Finance Centres (IFCs), according to Peter Niven, Chief Executive of Guernsey Finance.

The Rt. Hon. Mark Field, Conservative Party MP for the Cities of London and Westminster, opened proceedings by saying that the debate over the role of small IFCs had been, to date, “remarkably one-sided.”

The Lord Mayor of the City of London, Alderman Nick Anstee, has endorsed Guernsey as an International Finance Centre (IFC) during his visit to the Island this week.

Alderman Anstee was in Guernsey on Wednesday where he met with senior politicians and business leaders. He commented that the Island is a “very confident” and “professional” IFC which “is an integral component of the financial services operation that is the City of London.”

The Lord Mayor of the City of London, Alderman Nick Anstee, is visiting Guernsey on Wednesday 21 July.
 

Guernsey has signed a Tax Information Exchange Agreement (TIEA) with Portugal.

It was signed by Guernsey’s Chief Minister Lyndon Trott and the Portuguese Secretary of State for Tax Affairs Professor Sergio Vasques (see picture). The ceremony took place on Friday 9th July at the Portuguese Embassy in London where the other Crown Dependencies – Jersey and the Isle of Man – also signed similar agreements.

The Channel Islands Stock Exchange will be hosting its next International Business Summit at the Hotel de France (St Helier, Jersey) on 10 September 2010.

The Summit is designed to showcase the financial services of the Channel Islands, while focusing on some of the major issues which impact upon finance sector professionals globally.  This year’s event continues with the “four corners of the world” theme, underscoring the CISX and Channel Islands’ global reach, with a specific focus on Investment Strategies.

Please click on the link below to read the July 2010 newsletter:

Issue 9 - July 2010