NEWS

Photo By: Jersey Finance Jersey is "the right place with the right people" to establish itself as the go-to location for innovative global banking, a recent event hosted by Jersey Finance heard. Hugh Harper, a Partner at EY, delivered the keynote address at Jersey Finance's Annual Review breakfast event on January 28. Harper took the opportunity to discuss new research that outlines the potential for Jersey to adopt a new approach to banking. Citing the cooperation between Jersey's finance industry, regulator, and government, combined with the jurisdiction's unique advantage of a stable banking sector, he outlined how Jersey's commitment to...

NEWS 2020

Photo By: Getty The Jersey Financial Services Commission (JFSC) has raised Trust Company Business registration and application fees for 2016.  The increase follows a consultation on a fee increase of two percent in 2016 for trust company businesses and a change to way the current 'fee cap' is calculated. The registration fee cap has been set at the higher of GBP60,000 (USD84,700) or three-quarters of the unadjusted fee (rather than GBP50,000 or two-thirds of the fee that would be charged were the fee cap not in place). The application fee is payable at the time of application. The registration fee...

NEWS 2020

Photo by: Guernsey Finance The Guernsey Investment Fund Association (GIFA) has signed a Memorandum of Understanding with the China Association of Private Equity (CAPE). The British Private Equity & Venture Capital Association's Channel Islands Working Group (BVCA CIWG) was also a signatory to the agreement. It was signed at CAPE's Beijing offices earlier in March by CAPE's Secretary-General, Li Weiqun, and Guernsey Finance's Director of International Business Development, Kate Clouston, on behalf of GIFA and the BVCA CIWG. It sets out a statement of intent to facilitate collaboration in the areas of training, corporate governance, events, research, and public affairs....

NEWS 2020

Photo By: DIFC The Dubai International Financial Centre (DIFC), a free zone in the United Arab Emirates (UAE), said on February 29, 2016, that it has seen exponential growth in the presence of Chinese financial firms and state-owned banks in recent years. According to the Centre's 2015 full-year Operating Review results, Chinese banks in the DIFC have doubled their balance sheet in the last 18 months. Representing 26 percent of the total assets booked in the DIFC, China's top four state-owned banks – Bank of China, Agricultural Bank of China, ICBC, and China Construction Bank – have combined total assets...

NEWS 2020

Photo by: InvestHK Guernsey, the international finance centre located between the UK and France, today (March 2) held a launch event to officially open its representative office in Hong Kong, using Hong Kong's unique position as a global financial centre and a gateway for the Mainland market to expand its Asian reach. The Guernsey Finance Hong Kong office will serve as a base to raise the region's awareness of Guernsey's expertise in servicing global clients who are seeking to invest into Europe and the UK, and to explain the operation of Guernsey's regulatory regimes with regard to trust and company...

NEWS 2020

Photo by: Manx The Isle of Man has launched a public consultation on a proposal to raise fees for immigration services and applications for British citizenship, to bring them into line with those charged by the UK Government. The Manx Government described the fee increases as modest and noted that it has not raised fees for the last four years. The Government said: "Modest fee increases are proposed for businesses and the categories of skilled migrants the Isle of Man is seeking to attract in order to grow the economy. A larger share of costs will be applied to those...

NEWS 2020

Photo by: FinanceMalta The Malta Stock Exchange met recently with Chinese firms and practitioners in Beijing and Shanghai to foster new business relationships. The delegation was led by the Finance Minister, Edward Scicluna, and included the Chairman and other executives of the Malta Stock Exchange and representatives from a number of law firms. Financial services firms from both territories met to discuss what Malta offers in the financial services sphere. Representatives from Malta met with the Chairman of the Bank of China in Beijing, and with the President and other senior executives of the Shanghai Stock Exchange. They agreed to...

NEWS 2020

Photo by: Getty The Isle of Man has capped a week promoting the island in China with the signature of a Memorandum of Understanding (MoU) with the Shanghai Municipal Commission of Commerce. The MoU is intended to foster cooperation on economic, trade, and investment matters between the two regions. Under the terms of the MoU, the authorities in Shanghai will promote the Isle of Man as a base for companies seeking to expand into the UK and EU markets, as well as assist any Manx companies looking to establish themselves in Shanghai or its free trade zone. In return, the...

NEWS 2020