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Jersey as a Financial Centre

Jersey is the largest of the Channel Islands which formed part of the Duchy of Normandy in 933AD. In 1066, England and Normandy unified under thello everyone

The Islands enjoy domestic government autonomy and are responsible for their own domestic affairs including taxation and financial regulation. The British Government however, remains responsible for the Islands in their relationship to the outside world, with particular reference to matters of defence and foreign affairs.

Jersey is not part of the European Union, being neither a separate Member State nor an Associate Member. The Island's special relationship with the European Union is defined by a Protocol attached to the Treaty of Accession of the United Kingdom to the European Community.

Any change in these arrangements would require a Treaty amendment and this itself would need the agreement of all the Member States including the United Kingdom . No such amendment is in prospect or envisaged.

Under the terms of the Protocol the Island complies with European Community Directives on trade in industrial and agricultural products. It also meets a commitment made through the bilateral agreements with each of the 25 Member States in respect of the European Union Savings Tax Directive. In this respect, the Island has elected to implement the "withholding tax option." (For specific detail, go to our links page and click on www.jerseyfinance.je)

Jersey is an international banking centre and enjoys the well-established presence of leading banks, investment managers, law firms and accountants. The Island is committed to the bona fide development of trade, banking and a wide range of financial services conducted with professional integrity and skill. It offers a long established and favourable fiscal environment and has developed a comprehensive and sophisticated infrastructure of laws and regulations to support its finance industry

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