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Kate Clouston, Guernsey Finance

Guernsey Finance marks first anniversary of Hong Kong office

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Delegates can learn how a Guernsey structure could suit their clients’ financial needs at an event celebrating one year of the island’s presence in Hong Kong.

Guernsey Finance is marking the first anniversary of the opening of its Hong Kong representative office with its ‘Ganbei Guernsey’ event, which is due to take place at the Hong Kong Bankers Club on Thursday 14 September.
 
Delegates at the event will be given the opportunity to learn how a Guernsey structure could suit their clients’ financial needs.
 
Located at Three Pacific Place in Admiralty, Guernsey Finance’s Hong Kong office provides a base for the promotional agency activities in the wider South East Asian market, and is also used by the Guernsey Financial Services Commission to provide regulatory advice to those in the region who might be considering Guernsey-specific ventures.
 
Guernsey Finance Deputy Chief Executive Kate Clouston (pictured), says Hong Kong is a key global financial hub and an important partner for Guernsey in facilitating international capital flows and a variety of wealth management services.
 
“Guernsey and Hong Kong are partners moving forward at a time when cooperation and transparency are paramount, and the experts from Guernsey’s extensive finance sector can supply much-needed advice about working within international rules and regulations,” says Clouston.
 
The island has made many inroads into Hong Kong since the establishment of its office. In April, Guernsey’s civil aviation registry 2-REG granted an air operator certificate for 2-DEER – the world’s largest business jet – which allows its owner, Hongkong Jet, to offer it for commercial charter. The ultimate parent owner of Hongkong Jet is HNA Group – a Global Fortune 500 company and one of China’s most recognisable brands.
 
More recently, Heritage Financial Services Group has established a joint venture with Hong Kong-based Adept Capital Partners Services Limited which will allow Heritage to service both trust and corporate business and potential fund structures out of the region.
 
Guernsey Finance itself has staged two events in Hong Kong in the past year. The first was an insurance masterclass that examined the worldwide popularity of captive insurance structures and their expected rise in popularity in Asia, while the second focused on the global introduction of Common Reporting Standard (CRS) and how Guernsey, as one of the early adopters of CRS in 2014, is perfectly placed to share its expertise on the implementation of the international initiative.
 
In addition to marking the island’s progress since the office opening, ‘Ganbei Guernsey’ will also include a keynote speech from CitiTrust Chairman Stewart Aldcroft, who has had a long career working for traditional hedge, structured and alternative funds houses across Asia on business development and client relationships. He will be followed by a panel discussion on how Guernsey companies could help as part of a diversification strategy and create access to new markets and services.
 
The three panellists will present real-life case studies of how Guernsey provided a solution for their business or clients.
 
Mike Walsh of Asia Jet will discuss aircraft registration and corporate services, while Joseph Yeung of HLCG Film Guarantors will speak on captive insurance. Both were clients of Guernsey-based operations that found solutions for their businesses.
 
A representative of Nerine Fiduciaries, which has an office in Hong Kong, will offer the service-provider perspective and the various private wealth solutions Guernsey can provide for international clients.
 
“Guernsey’s offering, extending across investment funds, private wealth, banking and insurance, provides an attractive opportunity for diversification and long-term wealth management solutions for intermediaries based in Hong Kong,” says Clouston.

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