Guernsey: A Co-Operative Jurisdiction
Ferbrache & Farrell LLP, as a Guernsey rooted full service and commercially driven law firm, is delighted to confirm that Guernsey continues to be treated by the EU as a co-operative jurisdiction and has not been included in the list of non-co-operative jurisdictions, the so-called “EU black list”, as agreed by the European Council of Ministers. This position reaffirms Guernsey’s continued engagement with the EU Commission and the EU Code of Conduct group.
Whilst the Council of the EU set out that a number of Non-EU countries, including Guernsey, should address any query on economic substance, Guernsey’s asset management and fund industry is confident that in light of its infrastructure, commitment to corporate governance and its work arising out of the OECD’s BEPS action points, it will be able to sustain such requirements.
The Guernsey press statement and the comments by its President of the Policy & Resources Committee are available at https://www.gov.gg/article/162867/Guernsey-welcomes-EU-reaffirmation-of-cooperative-jurisdiction-status and the European Council Press release is set out at http://www.consilium.europa.eu/en/press/press-releases/2017/12/05/taxation-council-publishes-an-eu-list-of-non-cooperative-jurisdictions/
Guernsey
Somers HouseRue Du Pre
St Peter Port
Guernsey. GY1 1LU +44 (0) 1481 815050 info@ferbrachefarrell.com
London (by appointment only)
Octagon PointSt. Paul's
5 Cheapside
London. EC2V 6AA +44 (0) 1481 815050 info@ferbrachefarrell.com
Ferbrache & Farrell LLP is a limited liability partnership authorised and regulated by the Solicitors Regulation Authority (SRA ID 822659) to provide English & Welsh property law advice, to include conveyancing, which is registered in Guernsey (LLP registration number 64) with registered head office address at Somers House, Rue du Pre, St Peter Port, GY1 1LU and a UK office address at Octagon Point, St Paul's, 5 Cheapside, London, EC2V 6AA.