A delegation from Guernsey will be visiting Hong Kong and
Shanghai in October to promote the Island's expertise in
The delegation will spend a week in each centre highlighting how
Chinese institutions and high net worth individuals can benefit
from using trust and corporate services provided by Guernsey.
There will be a focus on recent enhancements to Guernsey's
offering such as the extension to the range of products and
services available as a result of the introduction of a new Trust
Law in March and the streamlining of the Island's company
incorporation process through the simultaneous launch in July of a
new Company Law and new Guernsey Company Registry.
The delegation team will be showcasing Guernsey as lead sponsor
and exhibitor at the STEP Asia conference in Hong Kong, through a
specific educational seminar in both locations and a series of
meetings with key decision makers in the two centres. Discussions
with Chinese government and regulatory officials are also planned
and will be led by Guernsey's most senior politician, Chief
Minister Lyndon Trott.
The delegation team also includes, as well as a group of leading
practitioners from the Island's fiduciary industry, Stephen
Trevor, Director of Fiduciary and Intelligence Services at the
Guernsey Financial Services Commission (GFSC); Mark Whiteley,
Guernsey Registrar of Companies; and Peter Niven, Chief Executive
of Guernsey Finance – the promotional agency for the
Island's finance industry.
"Our substantial amount of activity in the region over the
past year means that we have been able to build our profile,
acquire contacts and indentify fiduciary services as a particular
area where we can win business by stepping up our efforts to
highlight the strength of our offering," said Mr Niven.
"Through this delegation in October we will not only be
reinforcing our relationships with government and regulatory
officials but showing key fiduciary decision makers in the region
how Guernsey can deliver significant benefits to Chinese
institutions and high net worth individuals."
The October visit follows from a delegation in March to Shanghai
where a Guernsey office staffed by permanent representative Wendy
Weng was officially opened. In addition, Mr Niven visited Shanghai
and Beijing in June as part of the Lord Mayor of the City of
London's delegation to the region.
Mr Niven commented: "This was a very busy ten days but it
was extremely useful in helping develop our presence in Beijing and
further raise our growing profile in Shanghai."
As part of the programme Mr Niven met regulatory officials, the
Vice-Premier of China, the Major of Beijing and the Vice-Mayor of
Shanghai. In addition, he was able to network with the other
members of the delegation, including lawyers and accountants from
The visit also provided an opportunity to hold separate meetings
with a number of service providers in the region, including company
incorporators, in preparation for the October delegation with its
focus on fiduciary services and the new Guernsey Company
Many people are baffled by trusts, the purpose of which they don't fully comprehend. Some even regard them with suspicion, as tools of of opaque tax evasion strategies of a type favoured by wealthy individuals.
We were recently instructed by a Bank in relation to a regulatory matter. The Bank had made a suspicious activity report to the Financial Investigation Unit ("FIU") due to their concerns about the potential source of funds in an account.
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