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Guernsey Says CRS A 'Hot Topic' For Chinese Investors

by Jason Gorringe, Lowtax.net, London
14 July, 2017

Guernsey Finance, the agency tasked with promoting the island's financial services sector internationally, recently hosted a briefing in Hong Kong on the Common Report Standard (CRS).

The briefing on the OECD's new international standard for the automatic exchange of financial account information in tax matters attracted more than 60 delegates from the region's banking, trust, and securities industries. The intricacies of CRS proved to be the main topic of discussion among wealth management practitioners working for Chinese clients.

Delegates heard from Guernsey Finance Deputy Chief Executive Kate Clouston, who said the island's early adoption of CRS meant it was "perfectly placed to share its expertise with its Asia counterparts."

Christopher Chan, Guernsey Finance's Asia-Pacific Representative, said the briefing, the second held in Asia in the last six months, demonstrated the appetite for knowledge in relation to the CRS.

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