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 service providers, investment funds, insurance vehicles and banks.
Speakers at the opening event included Lord Howard Flight, a Member of House of Lords of the UK and a Commissioner of Guernsey's financial regulator, the Guernsey Financial Services Commission (GFSC), and the Guernsey Finance Chief Executive, Mr. Dominic Wheatley. There was a panel debate on the current economic climate.
Lord Flight said, "Guernsey is an important gateway for outbound investment opportunities into Europe and the UK. Having worked in Hong Kong and done a great deal of business in Guernsey over many decades, I'm happy to support an initiative designed to develop closer commercial ties which will benefit both jurisdictions."
Mr. Wheatley said, "The Hong Kong office is an exciting development not only for Guernsey Finance, but also the island's financial services sector, which has a growing interest in the region. We believe that establishing a larger presence in Asia reflects current industry trends and is fundamental to our future strategy, particularly as Hong Kong is such an important hub not only for China, but Southeast Asia overall."
Associate Director-General of Investment Promotion Mr.. Charles Ng, said, "Alongside its traditional role as a global financial centre, Hong Kong is also the global financial centre for Mainland China. This unique edge sets our city apart from any other financial hub in the world and attracts big financial groups like Guernsey Finance to set up a base in our city."
About Guernsey Finance
With a population of 65,000, Guernsey has established itself as a leading international finance centre. The finance industry employs approximately 22 per cent of the total workforce and accounts for 34 per cent of Guernsey's GDP of £2.4 billion. Several hundred firms are based on the island, providing an extensive range of financial products and services, including banking, investment funds, corporate listings, wealth management and insurance risk solutions. The island has close ties to the UK and wider Europe but retains its own legislative and fiscal independence. Guernsey's financial centre is complementary to and plays a positive role in the UK economy. For more information, please visit www.guernseyfinance.com.
About Invest Hong Kong
Invest Hong Kong (InvestHK) is the department of the Hong Kong Special Administrative Region Government established in July 2000 to attract foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customized services to help businesses succeed in Hong Kong's vibrant economy. As of December 2015, InvestHK had assisted over 3 820 companies which have created more than 41 200 new jobs in the first year of operation or expansion and over HK$101 billion of investment.
By Courtesy of InvestHK
