The body which promotes the island’s finance industry hosted its Private Wealth Forum in the capital city recently, ahead of the UK’s General Election.
We Are Guernsey reported on its website that “leading tax lawyer James Quarmby, followed recent public comment from Guernsey resident Stephen Lansdown which praised the island’s security and good governance and stable political situation.”
Mr Quarmby, Partner at Stephenson Harwood, was reported to have said: “Clients ask where to put their holding companies – we look at security and stable system of law, which Guernsey’s got, also do we have stability in terms of our reputation?
“I see offshore going into two tiers, solid offshore, the ones were happy to recommend to our clients, and the outliers.
“Law is important, history important, the quality of service providers important, but also what’s the backlash on me if I make a wrong decision and advise someone to go to the wrong jurisdiction? This is a serious point, and something we as advisers are very live to.”
We Are Guernsey reports that: “against a backdrop of increasing geopolitical and economic uncertainty – including Brexit, the rise of populism, the ongoing unrest in Hong Kong – Guernsey, with its independent legal, fiscal and administrative systems, provides continuing stability and certainty, insulated from political volatility and fiscal uncertainty.