The Channel Islands Stock Exchange (“CISX”), which is based in Guernsey, commenced operations in October 1998, since when it has approved over 4,000 securities for listing with a total market capitalisation of over US$50 billion. Some of the strengths of the CISX are competitive pricing, responsive and approachable market authority that meets daily to consider its applications for listings, a highly personalised approach, international standards of issuer regulation, enhanced marketability and added value service, as well as a premier location. This Factsheet summarises some of the important factors when considering listing Eurobonds on the CISX, CSX or LuxSE.

CHANNEL ISLANDS COMPANIES: IDEAL VEHICLES FOR INTERNATIONAL LISTINGS

The Channel Islands have more companies listed on the London Stock Exchange (LSE), and more FTSE 100 companies, than any other non-UK jurisdiction. The Hong Kong Stock Exchange (HKEx) has recognised Jersey and Guernsey as "acceptable jurisdictions", with three Jersey companies having listed on the HKEx with a combined market capitalisation of over £33 billion. Collas Crill has significant experience advising listing and listed companies on a variety of global exchanges. Here, Leon Santos and Brandon Doffing highlight the benefits of using a Guernsey or Jersey company for listing.

Double Taxation Agreements: JERSEY, Guernsey and Singapore

On 6 February 2013, Guernsey and Singapore inked a double taxation agreement, following on from the double tax agreement Jersey signed with Singapore in October 2012.  For a variety of multi-national businesses, these agreements will provide certainty and allow for efficient tax planning when establishing operations across Asian and European time zones. Read more here.

In this article we examine the long-mooted opportunities for the development of alternative sources of energy in Guernsey and their potential impacts and strength of continuing innovation in the jurisdiction. Alternative sources of energy are now firmly on the agenda of businesses, governments and individuals the world over. While public opinion is split over the issue, the call to address the energy impact on the planet grows ever stronger.

Although the Euro crisis appears to be more stable, it still appears far from resolved, and so stable, but critical. Jersey investors with Euro portfolios may therefore eye our Continental neighbours increasingly nervously, thinking the previously unthinkable: will the Euro survive? If not, of immediate importance amid the chaos will be what happens to debts they have or are owed in Euros, says Richard Holden.

Bonds may be issued by a company (“SPV”) to investors with the purpose of raising capital for the specific purpose of hedging the SPV exposure to a risk of a third party which has been assumed by the SPV. Historically, bonds which were issued by an SPV to hedge against exposure to the risk of a third party in relation to a natural disaster, became known as catastrophe bonds. This term now refers to a bond issued to hedge against almost any risk assumed in relation to a third party, including credit default risk. The assumption of risk by the SPV to the third party may be in the form of an insurance, reinsurance or other contract entered into with the third party. The SPV usually pays a high rate of return to catastrophe bondholders, mainly funded by the premium received on the contract with the third party. However, in the event of the catastrophe occurring, the bondholders typically lose their money and the capital of the bonds is used to pay the third party. Given its ability to establish a bridge between the capital markets and insurance/reinsurance markets, an SPV is also sometimes referred to as a transformer. This briefing note provides more information on the subject.

In addition to the option of creating a ‘standard’ partnership via a partnership agreement under Jersey customary law, Jersey has four statutorily recognised types of partnership. This briefing note outlines the four statutory types of partnership.

Imminent UK tax changes will affect offshore companies holding high value residential property. If your client structure holds high value UK residential property through an offshore company these new UK rules are relevant to you. This checklist is specifically designed for structures in which the UK property is held in a company with an overlying trust. If the structure differs from that model then other relevant considerations will apply.

Imminent UK tax changes will affect offshore companies holding high value residential property. If your client structure holds high value UK residential property through an offshore company these new UK rules are relevant to you. This checklist is specifically designed for structures in which the UK property is held in a company with an overlying trust. If the structure differs from that model then other relevant considerations will apply.