Distinctions between offshore domiciles blur

Jersey follows Guernsey in making it easier to migrate funds.

Continuing on from yesterday’s article about the Cayman Islands’ revamped Private Funds Law 2020, Marine Cole reports on recent developments out of the Channel Islands, Jersey and Guernsey. Both have recently made it easier for funds to migrate to their jurisdictions. One industry lawyer said that distinctions between domiciles like the Channel Islands and Cayman are becoming fewer and fewer.

In large part, that’s because of growing demands for economic substance from the likes of the OECD. Domiciles with the service infrastructure to demonstrate economic substance – for example, capital markets and banking advisory – will likely continue to converge on legal and regulatory frameworks.

Email prepared by Graham Bippart