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Guernsey And Jersey To Share Fiscal Advisory Panel

Wednesday, February 17, 2010

Guernsey’s Policy Council has appointed the 3 leading economists who form Jersey’s Fiscal Policy Panel to advise them on their own policies.

Jersey appointed the 3 economists, Joly Dixon, Marian Bell and Christopher Allsopp, to advise on fiscal policy in 2007. The Panel’s first interim report for Jersey was published in April 2008.

Announcing the decision, Guernsey’s Chief Minister, Deputy Lyndon Trott, said: “Last April the Policy Council brought before the States of Guernsey a Formal Fiscal Framework designed to safeguard the States continued conservative fiscal legacy. The States overwhelmingly backed those proposals, key to which was the adoption of an external panel of experts to provide independent opinion on the conduct of States policy. “

“These 3 eminent economists have agreed to constitute our inaugural panel membership. They already have a demonstrable track record with this kind of role on behalf of the States of Jersey, agreeing a common membership between us is a positive signal in support of pan-island collaboration.”

Jersey’s Treasury Minister, Philip Ozouf, commented: “I am pleased to see Jersey and Guernsey working together in this way. The joint use of the Fiscal Policy Panel has numerous advantages, not least of which is the fact that the members’ reputation and professionalism has already been demonstrated by their work for us in Jersey. I hope this proves to be one of many successful examples of the growing cooperation between the islands.”

Joly Dixon, Chair of the Panel, concluded: “We are delighted to be working with the States of Guernsey. Our work in Jersey has shown the benefits of a Fiscal Policy Panel. We welcome the decision of the Guernsey Policy Council to establish a fiscal framework and look forward to working with others to make it a success.”

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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