Jersey:
Jersey as a Finance Centre
08 October 1998
Ernst & Young Trust Co Ltd
To print this article, all you need is to be registered or login on Mondaq.com.
Jersey's reputation as a leading offshore finance centre has gone from strength to strength in the last 30 years. Presently, there are 82 banks registered in the island holding £97 billion in Sterling and foreign currency deposits. The total value of collective investment funds is £35 billion with considerably greater amounts held in private funds, trust and offshore companies. Over 10,000 people work in the finance industry and provide high standards of banking, accountancy, legal and fiduciary services. Jersey's niche in the offshore finance industry is based on one word "expertise".
Having created an environment in which reputable companies and individuals can place funds and conduct business offshore, Jersey has sustained its credentials by the regulation of professional standards. Jersey's financial institutions are closely scrutinised to ensure their activities are legitimate, a surveillance reinforced by supporting legislation which discourages misconduct and illegal dealings.
Such are the benefits of channelling funds through this safe, yet sophisticated island, with its dynamic business community and vibrant economy, that Jersey continues to attract large numbers of new investors and finance houses every year.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact:
Veronica Tonge
Ernst & Young Trust Company (Jersey) Limited
PO Box 621
Le Gallais Chambers
54 Bath Street
St Helier
Jersey
Channel Islands
JE4 8YD
Tel No: 01534 501000
Fax No: 01534 23265
E-Mail: Click Contact Link
URL: Click Contact Link
POPULAR ARTICLES ON: Wealth Management from Jersey
DIFC New Digital Assets Law
WH Partners
The Dubai International Financial Centre (DIFC), issued an important piece of legislation on digital assets. It is the new Digital Assets Law No 2 of 2024 (the Digital Assets Law)...
How To Set Up A Company In DWTC With VARA Approval
The Sovereign Group
Dubai has emerged as a crucial hub for the growing virtual assets industry. It provides attractive tax incentives, a progressive regulatory framework and unique opportunities for growth and development.