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Jersey and India delay tax info deal

Monday 21 March 2011 - by Nicola York

Jersey and India have delayed signing a tax information exchange agreement but say this will not adversely affect business flows between the two countries.

TIEA's take several months to prepare and Jersey Finance believes the agreement will soon be in place.

Jersey Finance now has a permanent representative in the country and the organisation currently has a delegation visiting India.

Jersey Finance ceo Geoff Cook says: "The commercial elements of the visit have been a great success and we have built on the strong links that already exist between Jersey and India as well as making a great many new contacts.

"With our permanent representatives now in place, the future growth opportunities for business flows between Jersey and India are strong."


The delegation is now on its way to Abu Dhabi where it is also opening an office.

It aims to focus on Jersey's expanding range of Islamic financial services including Islamic asset management and fund domiciliation, special purpose vehicles, Sukuk structures and Islamic private wealth management.

Sean Costello, Jersey Finance's head of business development for the GCC and India, said: "We are now seeing growing interest from GCC nations and India in the wider capabilities of Jersey's finance industry.

"In the GCC, for example, there is greater appreciation that Jersey's flexible legislation can be a natural choice for Islamic asset and wealth management, whilst in India, as well as seeing persistent interest in Jersey's funds expertise, that is now extending to corporate and listings work - there are currently, for instance, 86 Jersey companies listed on worldwide exchanges with a market capitalisation of £16bn."


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