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Guernsey Finance Strengthens Hong Kong Presence

by Jason Gorringe, Lowtax.net, London
08 March, 2018

Guernsey's financial services promotion agency, Guernsey Finance, says its Hong Kong office has yielded significant benefits for the territory over the past 15 months.

The agency opened its Hong Kong office at the end of 2016, to support its ongoing work in China, which began more than 10 years ago.

"We have been aiming to increase awareness of Guernsey as an option for the full range of financial services," said Kate Clouston, Deputy Chief Executive at Guernsey Finance. "Our presence in Hong Kong has given us more visibility to the Hong Kong network of intermediaries and has better informed them about the opportunity to work with Guernsey service providers."

Clouston said Guernsey Finance has linked up with Guernsey regulator, the Guernsey Financial Services Commission, to promote Guernsey's offering and this has led to the Commission fielding more than 100 technical inquiries across all sectors over the past 15 months.

Jacob Cherry, the Commission's Senior Regulatory Advisor in Hong Kong, added: "Asian corporates are beginning to appreciate Guernsey's providence as a specialist center of excellence that is joined-up and nimble enough that cross-sectoral collaboration within the finance industry is common."

"Guernsey's bespoke offering of services contrasts with the commoditized products that Asian clients are more accustomed to, which reinforces the necessity for Guernsey stakeholders to continue to proactively build trust in these markets."

Further signaling its commitment to the Asia market, Guernsey Finance has announced it has taken on Dorothy Kwok as its a new permanent representative in Hong Kong. Kwok has eight years' experience in the trust and corporate services industry, and has spent time working in Jersey bringing her into contact with Channel Islands structures.

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