A number of legislative and regulatory developments in both
Jersey and Guernsey are explored in our autumn issue of Collas
Crill Funds News, including the implementation of the AIFM regime
across both Jersey and Guernsey and the extension of the grace
period for the Companies (Guernsey) Law transitional provisions to
31 December 2015.
We also consider the welcome confirmation from the UK Prime
Minister that the Channel Islands cannot fairly be called tax
Meanwhile in Singapore Leon Santos looks at the advantages
and challenges of doing business in Asia following September's
Super Return conference in Hong Kong.
And finally, Euroclear UK & Ireland has been given
recognition by the GFSC under The Uncertificated Securities
(Guernsey) Regulations, 2009 as an
overseas operator. With this recognition the admission of
securities of Guernsey companies to trading on electronic platforms
maintained by Euroclear has been greatly simplified, removing the
need for complicated redrafting of articles of incorporation - it
is a welcome move.
AIFM - JERSEY AND GUERNSEY UPDATE
The AIFM regime has now been successfully implemented in both
Jersey and Guernsey. Paul Wilkes and Mark Rawlins provide an update from both islands.
PRIVATE EQUITY IN ASIA
"The best time to come to Asia was 30 years
ago, and the next best time ... is today." One of the
headlines from this September's Super Return conference in Hong
Kong was Ontario Teachers' Pension Plan setting up in Hong Kong
to focus on its Asia portfolio. Leon Santos looks at the
trends and challenges of doing business in
JERSEY AND GUERNSEY THE 10 DOWNING STREET PERSPECTIVE
David Cameron, the UK Prime Minister, announced in parliament on
10 September that Jersey and Guernsey should not be called tax
He said: "I do not think it is fair any longer to refer to
any of the ...Crown dependencies as tax havens. They have taken
action to make sure that they have fair and open tax systems. It is
very important that our focus should now shift to those territories
and countries that really are tax havens. The Crown dependencies
..., which matter so much - quite rightly - to the British people
and Members, have taken the necessary action and should get the
backing for it."
Reflecting on the announcement, Collas Crill partner Mark
Rawlins said: "We believe this acknowledgement is a welcome
step and recognises the work undertaken by Jersey and Guernsey in
adopting international standards on combating money laundering, tax
evasion and terrorist financing."
"We are proud to receive such recognition, which now
corresponds to the views of the IMF, IOSCO and the OECD. Both
Jersey and Guernsey exist to facilitate reputable business and,
indeed, the growing book of business we are experiencing from
institutional investors and funds is testament to this positioning.
We expect there to be further increased use of the Channel Islands
by businesses seeking a reputable home for their monies and
THE COMPANIES (GUERNSEY) LAW, 2008 - TRANSITIONAL
In Guernsey the grace period for the Companies (Guernsey)
Law transitional provisions has been extended to 31 December
2015. Alex Wickens looks at
how this may impact you.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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