Jersey: GCC Desire For Innovation Together With Robust Financial Regulation On The Agenda For Jersey Finance Event
Last Updated: 9 May 2017

GCC investors are increasingly looking at more sophisticated and diversified investments, leaving Jersey ideally placed as a jurisdiction of choice to structure those investments given its proven track record as a robust and mature international financial centre, together with its commitment to leading the way in terms of ensuring compliance with international best practice regarding transparency and disclosure, says Ogier senior banking lawyer Michael Evans.

Michael, who has a background in advising GCC clients, especially with regard to Islamic finance, is speaking at a Jersey Finance GCC roadshow event in Dubai today at a panel session with representatives from major international corporate services providers.

The event has seen the launch of a joint Jersey Finance and Hubbis white paper on "Driving forces behind HNW investors" examining trends and developments in the GCC.

Michael, who worked in Dubai, Bahrain and Qatar before joining Ogier, says that Jersey's offering as a respected regime offering a wide variety of products will draw increased interest as the GCC looks to jurisdictions with leading reputations in regulation, legislation and compliance with international standards.

He said: "There is a broad developing theme of GCC investors looking towards innovative jurisdictions with a substantial track record of, and commitment to, compliance with international standards and best practice – that development favours jurisdictions such as Jersey with leading reputations in compliance, transparency, disclosure and beneficial ownership rules and indeed Jersey has received endorsements from the OECD and IMF regarding the high standards of its regulation.

"In particular, appetite among GCC investors in UK real estate following the Brexit vote has not diminished.

"Jersey structures have long been used as an effective way to structure investment into UK real estate and, given the flexibility within Jersey structures to allow for specific factors which may be relevant to GCC investors, such as the requirement to be Sharia compliant, GCC investors should look to Jersey as an ideal financial centre to structure their investments."

Michael is a managing associate in Ogier's leading Jersey banking and finance team. Before joining Ogier, he spent several years in Dubai working for a magic circle firm, during which he was seconded to two major banks and a large sovereign wealth fund in the GCC as legal counsel.

Ogier's Jersey banking team is ranked in the top tier by Chambers and Partners, Legal 500 and IFLR.

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