The Island of Guernsey is internationally recognised as one of the world’s premier and closely regulated offshore financial centres and is home to many major international and UK banks, investment businesses, insurance companies and asset management institutions, servicing a global client base.
The Island is an independently‑governed, English‑speaking British Crown dependency with a population of over 60,000, which benefits from direct daily air and sea routes to the UK and Europe. The Guernsey Financial Services Commission is the regulatory body for the finance sector in the Bailiwick of Guernsey.
Since the introduction of QROPS and QNUPS solutions by HMRC in the UK, Guernsey has established itself as one of the leading centres for international pension solutions. These are mostly delivered by Corporate Trustee’s who are regulated by the Guernsey Financial Services Commission. In addition, Guernsey’s approach to self governance of its pension sector has seen the introduction of what is understood to be the first Code of Practice for QROPS, introduced by local providers via the Guernsey Association of Pension Providers (GAPP) body. As the pension market progresses and evolves Guernsey has shown that it is able to be responsive to change and is adaptable, enabling it to offer flexible pension solutions for both the local and international markets.
Therefore Guernsey is able to offer:
- Strict regulation of financial service providers – see www.gfsc.gg
- Political stability
- Fiscal independence
- A favourable tax regime
And a proven track record of a responsive and adaptable approach.