Jersey

Jersey's compliance with international financial regulation and supervision rules has pushed it ahead of the UK, according to an International Monetary Fund (IMF) report.

The Channel Islands maintain tax information exchange agreements (TIEAs) still have a future despite plans to move to automatic exchange agreements.

A total of five Jersey Foundations have been established and more than 40 registrations have been approved within a week of the introduction of the Jersey Foundations Law.

Guernsey and Jersey intend to follow the Isle of Man's move in committing to automatic exchange of information, but concerns of a level playing field prevail.

The migration of foundations to Jersey is set to soar as a new more flexible law lures existing structures to the island at the expense of other offshore centres.

Abbey International has rolled out a structured savings account which delivers income every six months for investors with differing investment and savings needs.

The UK property market will face fresh competition for offshore investment money as funds in the Crown Dependencies will soon be able to invest in French property without prohibitive French tax charges.

Jersey risks advertising itself as a ‘safe haven' for tax evaders if it does not extradite an alleged British fraudster involved in advising Crocodile Dundee actor Paul Hogan, says a lawyer at the hearing.

Jersey Finance has greeted the approval of the island's Jersey Foundations Law as a "hugely positive step" in positioning Jersey at the forefront of the private wealth management industry.

There is a pension revolution going on in Jersey right now, and it's one that might affect every islander for the rest of their lives.