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Stories that are tagged 'Guernsey'

Guernsey Finance Influential In MENA Region
5/23/2012
Guernsey Finance, the promotional agency for the island’s finance industry, has been named as one of the 50 most influential organizations working within the Middle Eastern and North African funds industry.
Guernsey And Jersey Discuss Cooperation
5/22/2012
Guernsey's newly-elected Treasury Minister has met his Jersey counterpart for the first time, to discuss future cooperation and collaboration on matters of mutual interest.
Guernsey Announces Aircraft Registry Plans
5/15/2012
The Guernsey government has announced that it has agreed with a private sector partner to launch an aircraft registry from the island.
Guernsey Fund Lists On LSE
4/24/2012
A Guernsey closed-ended investment company has been used by Blue Crest Capital Management in its Initial Public Offering of a fund on the London Stock Exchange Main Market, advised upon by Channel Islands law firm Carey Olsen.
Captive Insurers Increasingly Staying Onshore
4/20/2012
Corporates are more likely to form new captive insurance entities in onshore territories, such as in the United States and the European Union, and to opt for alternative captive structures, according to the findings of a new report.
EU Tax Issue With Guernsey's Tax Regime
4/23/2012
Guernsey's zero-ten corporate tax regime has been confirmed as 'harmful' by the European Union's Code of Conduct Group on Business Taxation. The Code Group had previously ruled similarly in relation to the zero-10 regimes of both Jersey and the Isle of Man.
Guernsey 'Singled Out' In UK QROPS Change
4/17/2012
Guernsey Finance, the promotional agency for the island's financial services industry, has condemned the UK tax authority's decision to remove almost all Guernsey Qualifying Recognised Overseas Pensions Schemes from its updated list, describing the move as an 'unjust attack on the island'.
Guernsey Fund Of Hedge Funds Receives European Accolade
4/11/2012
Guernsey-headquartered Legis Fund Services has been recognised as 'Best Administrator - under USD30bn Fund of Hedge Funds' at the HFMWeek European Services Provider Awards.
Offshore QROPS Domiciles Stunned At HMRC's Last-Minute Change
4/12/2012
The UK tax authority, HM Revenue and Customs has indicated that tax relief available on pension transfers, under so-called Qualifying Recognised Overseas Pension Scheme structures, will no longer be available unless the Scheme is offered within the territory in which the expatriate is newly resident, putting a multi-million offshore industry at jeopardy.
Guernsey Accepts Low Value Consignment Relief Ruling
4/9/2012
Guernsey's Policy Council has confirmed that it is not in Guernsey's best interests to appeal the decision of the High Court in London, which ruled that the United Kingdom's decision to revoke a generous value-added tax relief solely for the Channel Islands was consistent with European Union law.
Channel Islands Will Not Appeal UK VAT Ruling
4/6/2012
The Jersey government has decided not appeal the decision of the High Court in London, which ruled that the United Kingdom government's decision to revoke Low-Value Consignment Relief (LVCR), a value-added tax concession, for the Channel Islands was consistent with European Union law.
Guernsey, Switzerland Discuss Financial Synergies
4/3/2012
Guernsey recently hosted a Swiss government delegation during a two-day visit to the island, which reinforced the importance of links between Guernsey and Switzerland, particularly in financial services.
Guernsey Reports Strong Tax Amnesty Take-Up
3/29/2012
The Guernsey government has reported a significant uptake from taxpayers of its income tax irregularities amnesty launched in 2011.
Retailer Departs Guernsey Over VAT Relief Blow
3/29/2012
British high street store retailer HMV has announced that it will close its warehousing and distribution operations based in Guernsey following the confirmation from the UK government that it will remove Low-Value Consignment Relief for packages imported from the Channel Islands from April 1.
Guernsey Wealth Management Promoted In India
3/23/2012
Guernsey's offerings as a wealth management domicile were promoted at the India Wealth Forum, held recently in Delhi and attended by Guernsey wealth management firm Nerine Group of Fiduciaries.
Guernsey Is Europe's Captive Domicile Of Choice
3/22/2012
Newly-published research from Business Insurance magazine shows that Guernsey has extended its position as the largest captive insurance domicile in Europe and remains number four globally.
Guernsey Concludes Comprehensive DTA With Malta
3/21/2012
Guernsey has announced the signing of a comprehensive Double Taxation Agreement with Malta, which will allocate the territories' taxing rights to ensure that double taxation is removed from bilateral trade and investment, and also permit tax information exchange on request.
Channel Islands Fail To Overturn UK VAT Decision
3/21/2012
The governments of the Channel Islands have announced their 'disappointment' at the findings of the UK High Court, in response to the islands' joint challenge to the United Kingdom government's decision to remove long-standing value-added tax concessions crucial to the islands' fulfilment industries.
Interest In Guernsey As A Film Finance Centre Grows
3/16/2012
Guernsey's latest London seminar, to showcase the island's offerings as a leading international film finance centre, has been hailed a success after attracting an audience of over 100 senior members of the UK film community.
High Court Hears Channel Islands' LVCR Challenge
3/13/2012
A two-day hearing at the High Court in London began on March 13, 2012, to hear the arguments of lawyers representing the Channel Islands in their challenge to the scheduled removal of the United Kingdom's Low-Value Consignment Relief for the islands' fulfilment industries from April 1, 2012.
IoM Consults On Fund Laws
3/12/2012
The Isle of Man government has launched a consultation on draft legislation to update the regulation of 'Recognized' Collective Investment Schemes.
Guernsey Firm Gets CSP Licence
3/12/2012
Guernsey-based firm Alter Domus, a leading independent provider of professional administration services for multinational corporations and alternative investment funds, has received approval from the Guernsey Financial Services Commission to provide a wider range of products and services.
Guernsey Considering Territory's Economic Direction
3/8/2012
The Guernsey government has welcomed the publication of a new report, commissioned to provide an overview of Guernsey's current economic profile and recommend, on an independent basis, future strategic areas that should be targeted to provide further economic opportunities for the territory.
South Africa Extends Its TIE Network
3/6/2012
The South African Revenue Service has disclosed that a protocol to facilitate the exchange of tax information within the existing double taxation agreement between South Africa and Austria has recently entered into force, as have tax information exchange agreements with Bermuda, the Cayman Islands, Guernsey, Jersey and San Marino.
Guernsey Fund Sector Growth Tails Off
3/7/2012
New figures from the Guernsey Financial Services Commission shows that the island's fund sector contracted by 3.7% during the final quarter of 2011, with GBP10.2bn being shaved off the island's net asset value of funds under management and administration.
Regulator To Ease Merger Oversight In Channel Isles
3/2/2012
The Channel Islands Competition and Regulatory Authorities has announced proposals to change the threshold that determines when mergers and acquisitions should be notified to the authorities under Jersey's Competition Law.
UK QROPS Proposals 'Grossly Unfair On Guernsey'
2/29/2012
Changes to tax regulations that aim to clamp down on the mis-selling of qualifying recognized overseas pension schemes will disproportionately affect Guernsey, which has a completely clean QROPS record with the UK tax authority, HM Revenue and Customs, according to a leading Guernsey QROPS provider.
IoM Mulls FATCA Implications
2/28/2012
The Isle of Man government has announced that it may work with a number of other countries in order to help reduce the compliance burden of the United States Foreign Account Tax Compliance Act on the jurisdiction's financial services industry.
IoM Consults On Ombudsman Scheme Changes
2/14/2012
The Isle of Man's Office of Fair Trading is proposing to increase the maximum award limit under the Isle of Man Financial Services Ombudsman Scheme from GBP100,000 to GBP150,000.
Guernsey Reviews Collective Investment Scheme Rules
2/15/2012
The Guernsey Financial Services Commission has published a consultation document on new rules to be placed on 'Class B' Collective Investment Schemes.
Guernsey Firms Scoop Offshore Business Awards
2/14/2012
A number of Guernsey-based law and wealth management firms were among the winners at the recent Citywealth Offshore Awards in London.
St Kitts And Nevis Boosts Tax Cooperation
2/10/2012
Saint Kitts and Nevis's Cabinet has approved the signing of a Tax Information Exchange Agreement with India and has endorsed the commencement of negotiations towards similar agreements with a further four nations.
Guernsey Urges Vigilance Of Anti-Terror Financing Law
2/7/2012
The Guernsey government has requested that financial institutions and other concerned entities check their records to ensure they comply with the Terrorist Asset-Freezing (Bailiwick of Guernsey) Law 2011, which came into force on January 25, 2012.
Guernsey Prepared For Change To UK QROPS Rules
2/7/2012
Guernsey Finance - the promotional agency for the island's financial services industry has confirmed that the Guernsey government will act to protect local providers of QROPS pension arrangements if the UK tax authority, as expected, pushes ahead with changes to its QROPS regime, expected to be introduced from April 6, 2012.
Better Capital Funds Employ Unique Guernsey Structure
1/31/2012
Carey Olsen and Heritage International Fund Managers Limited have acted for Better Capital Limited, an existing Guernsey closed-ended fund listed on the London Stock Exchange, on its innovative conversion into a uniquely-structured protected cell company.
Guernsey Remains Leader In Non-UK Listings
1/27/2012
Guernsey remains home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally, according to figures from the market authority.
Guernsey Outlines 2012 Financial Sector Agenda
1/25/2012
Guernsey's Commerce and Employment Department has outlined its agenda for the forthcoming year, which includes concluding legislative programs to allow for the creation of Limited Liability Partnerships, Limited Partnerships and Foundations in Guernsey.
Guernsey Pursues Financial Services Commission Overhaul
1/23/2012
The Guernsey Financial Services Commission has formed a team to be supported by Ernst and Young to undertake an overhaul of the functioning of the Commission in its regulation of financial services entities to provide cost efficiencies against the background of the increasing regulatory workload.
Guernsey Reports Inflow Of Insurance Companies
1/18/2012
The number of insurance licenses issued in Guernsey last year rose more than 50% compared to the previous 12 months, the Guernsey Finance Services Commission has reported.
Jersey Hits Back At Labour's Tax Haven Slur
1/19/2012
Jersey has responded to comments made by Ed Milliband, the leader of the opposition Labour Party party in the United Kingdom, urging that action should be taken by the European Union against British Crown Dependencies, including Jersey.
Guernsey Reforms Inheritance Law
1/17/2012
The Guernsey government has noted the newly adopted Inheritance (Guernsey) Law, 2011, which is due to come into force on April 2, 2012.
Guernsey Encourages Online Filing
1/11/2012
Guernsey's Income Tax Department has announced measures aimed at improving uptake of its online filing facility. Since its introduction in 2008, the initiative has seen just 5% of tax returns filed electronically.
Guernsey Structure Employed In UK Mortgage Scheme
1/12/2012
Guernsey’s Protected Cell Company legislation will be used to create an insurance company which will underpin a new scheme being introduced in the United Kingdom to allow lenders to offer larger mortgages to home buyers.
Guernsey To Levy Immigrant Fees
1/4/2012
Fees are to be introduced by Guernsey for citizens from non-EU countries wishing to stay permanently or on a temporary basis from February 2012, in line with fees in place in other territories such as the UK.
The Seychelles Adds Guernsey TIEA
1/3/2012
The Seychelles has noted the signing of a Tax Information Exchange Agreement with Guernsey as a significant step in boosting bilateral relations between the two territories.
Guernsey Looks Set To Retain Zero-Ten Corporate Regime
12/29/2011
The European Union's Economic and Financial Affairs Council's endorsement of the comparable tax regimes of the Isle of Man and Jersey is providing greater certainty over Guernsey's future tax regime.
Guernsey Clarifies Situation On Income Tax Coding Changes
12/28/2011
Guernsey's Income Tax Office has published a statement reassuring taxpayers that income tax deductions under the Employees Tax Instalment Scheme will take into account from January 2012 the increased personal allowances that were approved by the island's legislative assembly, the States of Guernsey, last week.
Guernsey Concludes TIEA With India
12/26/2011
Guernsey has welcomed the signing of a Tax Information Exchange Agreement with India, said to be a major milestone in building business relations with the emerging market.
Channel Islands To Challenge UK Tax Decision
12/22/2011
The governments of Jersey and Guernsey have announced they intend to launch legal challenges to the United Kingdom's decision to exclude the Channel Islands from value-added tax exemptions on low-value goods, under Low Value Consignment Relief.
Guernsey Lawmakers Adopt 2012 Budget
12/20/2011
The States of Guernsey, the island's legislative assembly, has approved the territory's Budget for 2012, endorsing a number of minor tax changes.
Guernsey Firm Wins European Funds Award
12/19/2011
Guernsey-based private equity fund services firm Ipes has been named the European Specialist Administrator of the Year at the Funds Europe 2011 Awards in London.
Guernsey Promotes Finance Centre In India
12/15/2011
Guernsey businesses and a delegation from the Guernsey government recently met with practitioners from India’s financial services industry and promoted the island at a number of events, including the Asia Venture Capital Journal conference, where attendees were told of Guernsey’s strength as a leading domicile of choice for private equity funds.
Guernsey Reviews Functioning Of FSC
12/12/2011
The Guernsey government has welcomed the publication of a report it commissioned Ernst and Young to produce, which identifies areas in which Guernsey could benefit from reforming the island's financial services regulator, the Guernsey Financial Services Commission.
Guernsey Builds Stronger Financial Services Ties With China
12/5/2011
Guernsey's financial services regulator, the Guernsey Financial Services Commission has signed a landmark cooperation agreement with the Chinese regulator responsible for the banking sector, as part of Guernsey government efforts to forge greater financial services synergies between the two territories.
Guernsey To Retain Zero-Ten
12/2/2011
Guernsey's Chief Minister has said that the island will retain a zero headline corporate tax rate following the European Union's review of its tax regime, scheduled for next year.
Guernsey Seeks Listings On Shenzhen Exchange
11/30/2011
A delegation from Guernsey has visited Shenzhen, China, to engage with policymakers on the prospect of Guernsey companies listing on the local stock exchange.
Guernsey 2012 Budget Contains Minor Tax Hikes
11/23/2011
Guernsey's Treasury and Resources Department has published its 2012 Budget Report, proposing tax hikes on alcohol, tobacco, fuel and property.
Guernsey Selected To Facilitate USD6.3bn Leveraged Buyout
11/17/2011
A number of Guernsey investment vehicles were employed in the structuring of the major, USD6.3bn acquisition of Kinetic Concepts Inc by a consortium of investment funds.
Guernsey Given Top Credit Rating
11/16/2011
International credit rating agency Standard and Poor’s has reaffirmed its view of Guernsey’s financial and economic stability after giving Guernsey the highest rating possible against its newly-revised technical scoring methodology.
Healthspan To Challenge UK LVCR Decision
11/15/2011
Healthspan, one of the largest product distribution companies in Guernsey, has announced that the company will launch a legal challenge to the UK government's decision to unilaterally remove the Channel Islands' eligibility for Low Value Consignment Relief.
Channel Islands Challenge LVCR Decision
11/10/2011
The governments of the Channel Islands, Guernsey and Jersey, have released statements in response to the UK Treasury's announcement that from April 1, 2012, Low-Value Consignment Relief will no longer be offered to goods exported to the UK market from the Channel Islands.
UK Deals Tax Blow To Channel Islands
5/1/2012
The UK government has announced that from April 1, 2012, Low Value Consignment Relief will no longer apply to goods sent to the UK from the Channel Islands.
Guernsey Confirmed As A Leader In Financial Stability
11/9/2011
The Guernsey authorities have welcomed a report commissioned for the recent G20 summit which recognizes that the jurisdiction has demonstrated strong adherence to international co-operation and information exchange.
Guernsey Tax Regime Set For EU Review
11/2/2011
The European Union Code of Conduct Group on Business Taxation has resumed its review of Guernsey's corporate tax regime in order to ascertain whether it contains any 'harmful' elements.
Mourant Ozannes Rated Top Channel Islands Law Firm
10/27/2011
Mourant Ozannes has noted its placement in the latest International Financial Law Review 1000 rankings, which it said consolidates its position as the leading law firm in the Channel Islands. Mourant Ozannes was the only law firm to gain four out of four top tier rankings in both territories.
Uncertain Future For LVCR
10/18/2011
The UK's tax exemption offered to Channel Island exporters of low-value goods may be rescinded within months as the UK government looks to implement its Budget pledge to 'level the playing field' between Channel Island-based distributors and retailers in the UK.
Crown Dependencies Discuss Regulation
10/18/2011
The boards of the financial services regulators in Guernsey, the Isle of Man and Jersey have met to discuss common issues affecting the islands and to share their regulatory knowledge and experience.
India Rapidly Expanding Tax Agreement Network
10/17/2011
India is playing a major role in the global crusade against black money and has completed negotiations for 16 new tax information exchange agreements, according to the chairman of the Central Board of Direct Taxes M C Joshi.
Guernsey To Push Ahead With Aircraft Registry
10/17/2011
Guernsey is to push ahead with plans to establish an aircraft registry as a way of diversifying the island's economy after proposals for a joint Channel Islands registry received little support from Guernsey lawmakers.
Guernsey, Luxembourg Explore Fund Sector Synergies
10/12/2011
A team from Guernsey’s fund industry hosted an event in Luxembourg last month aimed at boosting cooperation between the two jurisdictions, discussing ways in which service providers in the two centres can work together more effectively for mutual benefit.
Guernsey Tops Europe In Specialist Finance Centre Index
10/4/2011
Guernsey has been rated highly in the latest index of specialist finance centres, as published by trade title The Banker, securing second position globally and the top spot in Europe.
Guernsey Delays Corporate Tax Decision
9/30/2011
Guernsey Chief Minister, Lyndon Trott, has clarified the government's position on the island's corporate tax regime in an address to the States of Deliberation.
Jersey Rated As Top IOFC
9/29/2011
Jersey has retained its position as the highest rated offshore international finance centre in the latest Global Financial Centres Index published on September 26, 2011.
Guernsey Leading Field In Tax Cooperation With Africa
9/27/2011
The States of Guernsey is set to conclude a further six bilateral Tax Information Exchange Agreements that have been negotiated with members of the Southern African Development Community, in line with the Organization for Economic Co-operation and Development’s priority of working closely on tax issues with developing countries.
Merger Creates Guernsey Fund Administration Powerhouse
9/26/2011
Two Guernsey firms have announced that they are to merge to create the largest independent fund administration business in the island.
Guernsey Corporate Tax Changes Unlikely
9/21/2011
Guernsey Chief Minister Lyndon Trott has welcomed the outcome of the EU Code of Conduct Group's review of the business tax regimes in Jersey and the Isle of Man, noting that this should provide greater certainty for businesses over the future of Guernsey's 'zero-ten' tax regime.
IOM Welcomes Zero-Ten Outcome
9/19/2011
The Isle of Man's Treasury Minister Anne Craine has welcomed feedback from the EU Code of Conduct Group on business taxation that it has agreed in principle that the Isle of Man’s business tax system will no longer be considered harmful if it goes ahead with its proposed withdrawal of the attribution regime for individuals.
Jersey's Zero-Ten Regime Vindicated
9/15/2011
Jersey has received word from the European Union Code of Conduct Group on Business Taxation that the territory's corporate tax regime will meet international standards after the proposed abolition of the island's 'harmful' deemed distribution provisions.
Guernsey Boosts Regulatory Ties With Germany
9/5/2011
The Guernsey Financial Services Commission has announced that it has entered into a cooperation agreement with Germany’s banking, insurance and securities regulator, BaFin.
Guernsey Praised In Captive Insurance Report
8/31/2011
Guernsey’s position as one of the leading captive insurance domiciles globally has been reinforced by the results of a new study into the sector.
Guernsey Cements Relations In China
8/30/2011
Representatives from Guernsey Finance visited China last week to further strengthen relationships in Shanghai and Beijing.
China-Guernsey TIEA Is In Force
8/24/2011
The tax information exchange agreement between Guernsey and the People’s Republic of China entered into force on August 17, 2011.
Bahamas Signs TIEAs With Guernsey, Aruba
8/19/2011

The Bahamas govenrment has announced the signing of two Tax Information Exchange Agreements with Guernsey and Aruba, bringing the total number of such agreements the territory has concluded to 27.

Guernsey Housing In High Demand
8/17/2011
Average property prices in Guernsey rose by 7.7% in the second quarter of 2011, compared to the same quarter in 2010, according to data released this week by the States of Guernsey.
Yorkshire Guernsey Shuts Shop
8/15/2011
Formed in 1990, Yorkshire Guernsey, the offshore subsidiary of Yorkshire Building Society, is to be wound up after it was deemed the structure was no longer viable, the company's chief executive attributing the decision to conflicting regulation in Guernsey and the United Kingdom.
Guernsey Consults On Fees
8/10/2011
The Guernsey Financial Services Commission has released a consultation paper on fees for financial services companies for 2012.
IoM TIEAs With Japan, China To Enter Into Force
8/4/2011
The Isle of Man government has announced that its Tax Information Exchange Agreements with China and Japan will enter into force on August 14, 2011, and September 1, 2011, respectively.
First Channel Island Law Firm Opens In Singapore
8/3/2011
Collas Crill has become the first Channel Islands-based law firm to open an office in Singapore.
Guernsey Firm Pioneers Aircraft Leasing Venture
8/3/2011
Another new Guernsey company has for the first time been listed on the London Stock Exchange offering investment in A380 aircraft operated by Emirates.
Guernsey Adds To Tax Info Exchange Network
8/2/2011
The Guernsey government has announced the signing of two further Tax Information Exchange Agreements, with Argentina and the Cayman Islands.
Industry Backs Jersey's Solvency II Decision
7/29/2011
The Jersey Financial Services Commission has released a statement outlining its position with regard to the capital standard for insurance and reinsurance companies, Solvency II, which is expected to be introduced in the European Union in 2013.
Baker Tilly Creates Auditing Arm In Guernsey
7/28/2011
Baker Tilly Channel Islands Limited - the Channel Islands division of accountancy and business advisory firm Baker Tilly - has formed Baker Tilly CI Audit Limited, a Guernsey-registered audit and assurance company, enabling the firm to provide auditing services in Guernsey.
Trott Represents Guernsey In Brussels
7/22/2011
Guernsey's Chief Minister, Deputy Lyndon Trott, has returned to Guernsey after a series of meetings in Brussels – his first formal engagements with the European Union since the launch of the Channel Islands' Brussels Office in April.
Guernsey Removed From Levin's 'Blacklist'
7/18/2011
Guernsey’s engagement with Washington has resulted in Democrat Senator Carl Levin removing the island from his 'blacklist', the Guernsey government has announced.
Jersey Company Used For Major London Listing
7/11/2011
Mourant Ozannes has advised Vallares plc, a Jersey company, on its flotation on the Main Market of the London Stock Exchange, which raised GBP1.35bn (USD2.15bn) – the second largest such flotation this year, just seven days after making an announcement that it intended to launch an initial public offering.
Ogier Blazes Trail In China
7/8/2011
Ogier has become the first offshore law firm to establish a presence in mainland China after the opening of its new office in Shanghai.
Guernsey Not Rushing Zero-Ten Decision
7/6/2011
The Guernsey government has underscored that no decision has yet been made on the future of the territory's corporate tax regime, following agreement by the EU Economic and Financial Affairs Council that aspects of the zero-ten regimes in Jersey and the Isle of Man contain 'harmful' elements.
Kolar Gold Chooses Guernsey Base
7/5/2011
Channel Islands legal services provider, Carey Olsen has advised Kolar Gold on the Guernsey aspects of its listing on the AIM Market of the London Stock Exchange.
Guernsey Signs TIEA With Mexico
7/1/2011
The Guernsey government has announced the signing of a Tax Information Exchange Agreement with Mexico, its first such agreement with a Latin American country.
Channel Islands Meet With UK Political Parties
7/1/2011
The Chief Ministers of Jersey and Guernsey attended the All-Party Parliamentary Channel Islands Group meeting, held in London on June 28, 2011.

 

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