Stories that are tagged 'Jersey'

	Jersey Enhances Regulatory Cooperation With Germany 5/9/2012 The Jersey Financial Services Commission has announced the signing of a cooperation agreement to boost its relationship with the German banking, insurance and investment firms' regulator, the Bundesanstalt fur Finanzdienstleistungsaufsicht.
	Financial Crisis Hits Jersey Finance Industry Profits 5/10/2012 The Jersey government's latest statistical report shows a significant decline in the profitability and size of the nation's financial services industry since the start of the financial crisis, putting pressure on Jersey tax receipts. Recent figures for 2011, however, show modest signs of improvements.
	Offshore Merger And Acquisition Activity Rises 5/9/2012 A new report from Appleby shows that transaction values for mergers and acquisitions (M&A) in major offshore financial centers rose by 25% in the first quarter of 2012.
	Jersey Builds Business Relationship With UAE 4/24/2012 Jersey Treasury Minister Philip Ozouf has arrived in the United Arab Emirates as part of a three-day official visit to promote Jersey's offerings as an international financial centre.
	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.
	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.
	Jersey Business Sentiment In The Doldrums 4/12/2012 The prevailing sentiment among Jersey business is the most negative since records began in 2009, with business activity said to have fallen significantly in the first quarter of 2012.
	Jersey Responds To QROPS Change With New Offering 4/11/2012 The Jersey government has announced the launch of a new Jersey-based pension scheme, the Recognized Pension Scheme, which provides a structure compliant with UK law following changes to UK rules regarding Qualifying Recognised Overseas Pension Schemes.
	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.
	Jersey Regulator Seeks Civil Penalty Capabilities 4/5/2012 The Jersey Financial Services Commission has launched a new consultation paper proposing that the Commission be empowered to impose civil penalties on specified registered persons for serious, uncorrected or recurring breaches of its Codes of Practice.
	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.
	Jersey Targets Digital Industries With New Agency 4/4/2012 A new agency, Digital Jersey, is to be established as a part of a public-private partnership aimed at promoting Jersey's digital industries - including e-gaming, e-commerce and Information and Communications Technology, on the back of Jersey's newly updated Intellectual Property legislation.
	State Street Granted Jersey Banking License 3/30/2012 The Jersey Financial Services Commission has granted State Street Corporation, one of the world's leading provides of financial services to institutional investors, a license to expand its offerings to include Jersey-based banking.
	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.
	Jersey Assesses UK Stamp Duty Measures 3/29/2012 Jersey Finance, the agency responsible for the promoting the island's finance industry, has responded to measures in the UK budget which seek to prevent stamp duty tax avoidance on the purchase of high-value property in the UK via offshore company structures.
	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.
	Jersey Embarks On Major Gulf Promotional Tour 3/20/2012 The Jersey government has announced that a convention for the avoidance of double taxation and fiscal evasion will be signed with Qatar during its current promotional trip to the Gulf region.
	Offshore Aspects Of Russian 'Superbank' Merger 3/19/2012 The Jersey office of Walkers, the leading international law firm, has advised on the multi-jurisdictional aspects of the USD1bn merger between Sberbank and Troika Dialog, which will create a Russian 'superbank'.
	Jersey Signs Tax Data Sharing Pact With Italy 3/14/2012 The Jersey government on March 13, 2012, signed a bilateral agreement with Italy to exchange tax information on request in accordance with the Organization for Economic Cooperation and Development's internationally-agreed standard on tax transparency and information exchange.
	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.
	Jersey Reports Record Tax Compliance Figures 3/9/2012 Jersey’s Tax Office has reported an all-time high tax collection rate of 99.6% for 2011, markedly higher than that of the United Kingdom last year, which recorded a rate of around 96%.
	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.
	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.
	Hong Kong, Jersey Sign DTA 2/28/2012 On February 24, Hong Kong’s Secretary for Financial Services and the Treasury, Professor K C Chan (pictured), and Jersey’s Chief Minister Ian Gorst, signed a double taxation agreement between Hong Kong and Jersey.
	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.
	Jersey Planning Permission Changes To Benefit Businesses 2/23/2012 New draft planning guidance is being considered by the Jersey government, which, if approved, will provide greater protection for businesses with premises and land holdings on the island.
	Jersey Reviewing FATCA Impact 2/17/2012 The Jersey government has published an initial response to the release of further details by the US tax authority and Treasury on the US Foreign Account Tax Compliance Act, which will impact Jersey'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.
	First Jersey Firm Lists On NYSE 2/10/2012 Delphi Automotive PLC has become the first Jersey company to have its shares directly listed on the New York Shock Exchange, having been advised on its initial public offering by Channel Islands law firm Carey Olsen.
	Jersey's Investment Strategy Paying Dividends 2/9/2012 The contribution of Jersey Enterprise, the government's inward investment agency has been highlighted in a recent report coinciding with the agency's name change to 'Locate Jersey' and formulation of a plan for future policy.
	Jersey Hosts High-Level French Delegation 2/8/2012 Following a visit by a States-led delegation to address the French Parliament in June 2011, two leading members of the French Senate Finance Committee on February 6, 2012, have reciprocated by holding meetings with decisionmakers in Jersey.
	Jersey Mulls Fees Hike On Fund Sector 2/8/2012 Jersey's Financial Services Commission has launched a consultation on proposals to increase the fees paid by Collective Investment Funds and Fund Services Businesses.
	Jersey, IoM To Outlaw 'Vulture Funds' 2/6/2012 The Isle of Man and Jersey have announced that they are to draft legislation designed to stop creditors, including so-called 'vulture' funds, from using the territories' judicial systems to undertake 'inequitable' transactions whereby the debts of heavily indebted poor countries are bought for a fraction of their price only to for them to be pursued for full value plus interest.
	E-Gaming Giant Applies For Jersey License 2/3/2012 The Jersey Gambling Commission has welcomed the application of Playtech, one of the world's leading eGaming software and content specialists, for a Remote Gambling licence.
	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.
	Jersey Regulatory Risk Workshops Launched 1/24/2012 A series of workshops have been launched to help businesses and their employees to better understand and comply with new regulatory requirements and better meet stakeholder expectations when operating in Jersey.
	Miliband Comments 'Lack Credibility', Say Guernsey, IoM 1/20/2012 Guernsey and the Isle of Man have joined Jersey in denouncing as erroneous the comments of the leader of the opposition Labour Party in the UK, Ed Miliband, in which he called for the European Union to take action against territories such as the Crown Dependencies on tax transparency concerns.
	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.
	Jersey Attracts Nordic Investment Fund 1/17/2012 Leading offshore law firm Mourant Ozannes has advised on the establishment of a new private equity fund focusing on Nordic business investments, which is managed by a Jersey general partner.
	Ogier First Offshore Law Firm In Luxembourg 1/13/2012 Ogier, a leading provider of international legal and fiduciary services, has announced plans to target new clients in Luxembourg with the establishment of legal and fiduciary businesses in the territory.
	Jersey Ups Promotion In India 1/12/2012 Jersey Finance has undertaken further promotional activity in India this month following the signing of a Tax Information Exchange Agreement with the territory in November to strengthen business ties.
	Centamin Shifts Tax Residency To Jersey 1/4/2012 On December 30, 2011, Centamin Egypt Limited successfully migrated its corporate headquarters to Jersey from Australia, through the establishment of a Jersey holding company with advice from Channel Islands law firm Ogier.
	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.
	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.
	Jersey Structure Employed In Polymetal's LSE Listing 12/23/2011 Channel Islands law firm Carey Olsen has advised Polymetal International, the largest silver and fourth-largest gold extraction company in Russia, and one of the top five primary silver extraction companies worldwide, on the Jersey aspects of its listing on the main market of the London Stock Exchange.
	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.
	Jersey Welcomes Corporate Tax Certainty 12/22/2011 Jersey’s corporate tax regime was endorsed by the Council of Ministers of the European Union on December 19, confirming that it no longer contains 'harmful' provisions.
	Jersey To Invest In Super-Fast Broadband 12/15/2011 Jersey's Treasury Minister, Phillip Ozouf, has proposed plans to provide funding worth GBP19m (USD30m) to Jersey Telecom to upgrade the island's Internet infrastructure with fibre optic technology to facilitate 1 gigabyte broadband speeds for island businesses.
	Jersey Reports Healthy Finance Industry 12/14/2011 Jersey has welcomed the 'stable overall growth' achieved in the third quarter for the island's financial services industry, with the value of funds under administration in the jurisdiction growing to reach its highest level since June 2009.
	Jersey Finance Welcomes New Tax Pacts 12/13/2011 Jersey Finance, the promotional agency for the island’s financial services industry, has welcomed the signing of two tax cooperation agreements with Japan and Poland and the commencement of negotiations with Hong Kong towards a double tax avoidance pact.
	Japan, Jersey Sign TIEA 12/7/2011 The tax information exchange agreement between Japan and Jersey was signed on December 2, 2011, in London by Keiichi Hayashi, the Ambassador of Japan to the United Kingdom, and Ian Gorst (pictured), Jersey’s Chief Minister.
	Jersey Businesses Challenge Altered Transparency Goalposts 12/8/2011 The Jersey Chamber of Commerce, which represents Jersey's private sector businesses, has urged the island's decision makers to pause for thought prior to agreeing to a new raft of demands from advanced nations on tax information exchange.
	Jersey Highlights Upcoming Social Security Changes 12/6/2011 The Jersey government has reminded taxpayers of changes to the territory's system of social security contributions from January 1, 2012, including an increase in the rate paid by employers and incentives for new business formations.
	Litigation Funding Now Available In Jersey 12/6/2011 A landmark judgment from the Royal Court in Jersey now officially recognises third-party litigation funding in Jersey, provided that it is properly structured.
	Jersey Litigation Fund Breaks New Ground 12/5/2011 Offshore law firm Carey Olsen has broken new ground with the first ever listing of a litigation fund on the Channel Islands Stock Exchange after it advised Argentum Capital Limited on the Jersey legal aspects of its multimillion-pound listing.
	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.
	Jersey To Revise Due Diligence Requirements 11/24/2011 The Jersey Financial Services Commission has launched a consultation on proposals to amend the Money Laundering Order 2008 and the Anti-Money Laundering/Countering the Financing of Terrorism Handbook to revise customer due diligence requirements.
	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.
	Jersey's 2012 Budget Approved 11/11/2011 Jersey's legislature, the States Assembly, has approved the 2012 Budget, which contains a number of measures to boost the island's economy as well as providing tax relief to lower-wage earners.
	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.
	Jersey Welcomes Indian TIEA 11/7/2011 Jersey has welcomed the signing of a tax information exchange agreement with Indian authorities, at the Indian High Commission in London on November 3.
	Jersey To Boost First-Time Homebuyer Tax Relief 11/3/2011 Jersey's Treasury Minister, Phillip Ozouf has proposed that relief on Stamp Duty and Land Transactions Tax afforded to first-time homebuyers should be increased in line with current house prices.
	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.
	Bedell Expands With BVI, Singapore Offices 10/31/2011 International financial services provider Bedell Trust has announced plans to open new offices in Singapore and the British Virgin Islands.
	Jersey Meeting Fiscal Targets Yet Risks Remain 10/28/2011 Jersey's Treasury Minister, Phillip Ozouf has welcomed the recent Fiscal Policy Panel report, which shows that while growth in Jersey is to be weaker than expected, the government has been successful in implementing a long-term plan that will bring the territory's finances onto a sustainable footing.
	Jersey Effectively Implementing Tax Information Exchange 10/27/2011 Jersey Finance has welcomed the findings of the Global Forum on Transparency and Exchange of Information for Tax Purposes which reported on Jersey's progress in developing a transparency and tax information exchange regime in line with developing international standards.
	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.
	Jersey Clarifies Position On UK LVCR Review 10/19/2011 Jersey Treasury Minister Phillip Ozouf has dismissed speculation that the Jersey government is ready to accept the loss of the UK's Low Value Consignment relief scheme, a tax break which has benefited the local economy, in return for the UK's approval of its 'zero-ten' corporate tax regime.
	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.
	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.
	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.
	Jersey Records Financial Sector Employment Growth 10/11/2011 Jersey Finance has welcomed the latest Jersey Labour Market report, published by the States of Jersey, and believes that it provides some reassurance as an indicator of growth within the finance industry and wider economic recovery.
	Jersey MoU Targets Financial Crime 10/10/2011 The Jersey Financial Services Commission and the States of Jersey Police have entered into a Memorandum of Understanding to forge a cooperative relationship to more effectively tackle financial crime.
	Jersey Represented At Conservative Party Conference 10/7/2011 Jersey's Deputy Chief Minister, Philip Ozouf met key UK government ministers during the final day of the Conservative Party Conference on October 5, 2011 to discuss Jersey’s expansion into emerging markets and its ongoing positive representation in the EU.
	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.
	Report Suggests Jersey Finance Sector Shrinkage 9/29/2011 Jersey's 2010 economic report, published on September 27, 2011, shows that Jersey's economy, as measured by Gross Value Added, declined by some 5% in 2010.
	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.
	Jersey's 2012 Budget Published 9/27/2011 Jersey's 2012 Budget, published on September 23, contains numerous measures to boost tax revenues and support lower-income workers as part of the government's efforts to tackle the territory's deficit.
	Jersey Forges Links With Lib-Dems 9/26/2011 Jersey Treasury Minister Philip Ozouf attended the Liberal Democrats’ Party conference in Birmingham as part of a three-day intensive trip to forge stronger relations between the island and UK decision makers.
	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.
	Jersey Publishes EU Savings Tax Figures 9/20/2011 Jersey’s Comptroller of Taxes has remitted to EU member states a total of GBP4m in retention tax for the year 2010.
	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 Considering Cut-Back Proposals 9/19/2011 The Jersey government has submitted the 2012 draft Annual Business Plan to the island's legislative assembly, the States of Jersey, to be finalized and adopted. The Plan focuses on 3 areas: cutting government expenditure; generating economic growth; and ensuring a competitive tax regime, which is flexible to public finance needs.
	Jersey Chosen As America's Cup Port Of Registry 9/15/2011 The organisers of the most famous yachting challenge in the world, the 160-year-old America’s Cup, have chosen Jersey as the Port of Registry for their race management fleet.
	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.
	Jersey Chamber Questions States Fiscal Plan 9/14/2011 The Jersey Chamber of Commerce, representing island businesses, has questioned elements of the States Business Plan, which outlines measures for economic growth, public sector retrenchment, and discusses tax policy in coming years.
	First Incorporated Limited Partnership Formed In Jersey 9/9/2011 Ogier Jersey has acted as advisor in relation to the establishment of the first incorporated limited partnership in Jersey, Invescap (Villette) ILP, which invests in UK commercial real estate.
	Jersey Reports Fund Industry Growth 9/7/2011 Jersey’s finance industry showed stable growth in the second quarter of 2011, with the value of funds administered in the island reaching its highest level for two years and the value of funds under management increasing by 4.2%.
	Jersey Publishes Economic Growth Plan 9/1/2011 Jersey's Minister for Economic Development, Alan Maclean, has published a draft Economic Growth Strategy to continue the process of economic policy development in Jersey.
	Jersey To Widen Fund Prospectus Rules 8/19/2011 The Jersey Financial Services Commission has published feedback on two consultations, on Certified Fund Prospectuses, and on Codes of Practice for Certified Funds, both issued in 2009.
	Mourant Ozannes Advises On USD13bn Reverse Takeover 8/16/2011 Mourant Ozannes has acted as sole Jersey legal adviser to KazakhGold Group Limited and OJSC Polyus Gold, the largest gold producer in Russia, in the combination of the two companies.
	Pershing Move Endorses Jersey's High Standards 8/11/2011 Pershing, a BNY Mellon company, has announced its intention to establish an office in Jersey later this year, a move which is testament to the high standards of regulation and professionalism that Jersey is able to offer US firms, according to Jersey Finance.
	Jersey To Review ISE Regime 8/11/2011 In a public consultation released on August 5, the Jersey government has sought the views of businesses on the International Services Entities regime.
	Jersey Announces Financial Advice Review 8/9/2011 The Jersey Financial Services Commission on August 3 published a Position Paper on the review of how investment advice is provided in Jersey.
	Vistra Acquires Herald Fund Services 8/5/2011 The Jersey arm of Vistra Group, a leading independent provider of trust, fiduciary, corporate and fund services, has announced the acquisition of Herald Fund Services limited. Existing clients and Herald's fund administration have been transferred to Vistra Jersey.
	Jersey Signs TIEA With Argentina 8/4/2011 Jersey's Assistant Chief Minister, UK and International Relations, Freddie Cohen, has signed a tax information exchange agreement with Ricardo Daniel Echegaray, Head of the Argentine Federal Administration of Public Revenues.
	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.
	Jersey FSC Signs MoU With French Regulator 8/2/2011 The Jersey Financial Services Commission and the French banking regulator, the Autorité de Contrôle Prudentiel have signed a Memorandum of Understanding that aims to facilitate co-operation between the two regulatory bodies.

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