Political changes in the UK, including the recent installation of Andy Burnham as Prime Minister, have contributed to a continuing demand from businesses and wealthy residents looking to relocate to the Channel Islands.

While one Guernsey-based bank said the trend was a direct result of a “shift to the left” following Mr Burnham’s arrival in Downing Street, with a pivot away from free markets and towards state control, Jersey Finance said there was more of a sustained, longer-term trend behind the Island’s appeal.

Bank Aston, which was set up in Guernsey in 2025, reported a “surge” in enquiries from high-net-worth individuals, funds and fiduciaries looking to move assets from the UK to the Channel Islands.

Co-founder Jay Goss said: “The Channel Islands are viewed as a safe home for money. Nobody knows what is going to happen next in the UK – and the possibility of higher taxes is causing people to consider their options.

“What we’ve seen recently is a surge in the number of wealth-related businesses wanting to set up in the Channel Islands – whether it’s family offices, investment funds or venture capital firms, they’re all looking for a more friendly business landscape.”

The Channel Islands are viewed as a safe home for money

Bank Aston co-founder jay goss

Jersey Finance gave a more cautious response, but deputy chief executive Amy Bryant acknowledged that there remained a considerable attraction for relocation to Jersey.

“We continue to see strong demand from a broad range of businesses, asset managers and families from a number of locations, including the UK but also spanning the US, Europe, Africa, Middle East and Asia,” she said.

“Jersey maintains particularly strong links to the UK market but that appeal is part of a longer-term sustained trend, rather than being linked to shorter-term political cycles, as investors and families look to diversify and place a real premium on jurisdictions that can offer long-term certainty and stability.”

She added: “Jersey responds to that need well, but we are continuing to work hard to develop the offering as an international finance centre, guided by the Time to Win strategy, to remain competitive and continue to attract high-quality business.”

Harry Malet de Carteret, managing director of LTS Tax, was another to highlight the ongoing appeal of Jersey.

“Jersey has seen strong interest from high-net-worth individuals considering relocation from the UK, particularly since late 2024 and this trend continues today,” he said.

“Changes in political leadership naturally create a degree of uncertainty around future policy direction, including taxation. This uncertainty is likely to reinforce the trend of high-net-worth individuals considering their options, and Jersey continues to be attractive because it offers a stable, secure, and well-established environment for internationally-mobile families and business owners.”