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.

The very latest thinking on Qualifying Recognised Overseas Pension Schemes (QROPS) will be examined at a series of seminars to be hosted by Guernsey across the UK this autumn.

Guernsey has already held two QROPS events in London during the past nine months and it is now planning masterclasses in Manchester, Bristol and Birmingham during September and October. They will include an examination of recent developments such as the introduction of Qualifying Non UK Pension Schemes (QNUPS).

View the special report from www.expatmoneychannel.com through this link:

Expat Money Channel - Guernsey Special Report

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.