A recent report by Oxford Economics called Guernsey one of the most prosperous economies in the world. Guernsey’s economy is heavily dependent upon financial services with 21% of its direct employment and 39% of its income coming from the sector.
Guernsey has a well-developed financial infrastructure. Assets of funds domiciled and serviced here are approximately $450 bn. Its service providers score well in surveys that have been done by FundDomiciles.com’s parent, IFI Global. Guernsey service providers in the private equity sector often come out on top in any comparative analysis done by IFI Global. There are a number of alternative fund managers, and fund of fund managers, that have chosen to locate their own back office in Guernsey.
Guernsey was the first offshore jurisdiction to come up with the idea of developing an AIFMD compliant regime for funds in the location that are concerned with access to the EU’s markets.
Population (approx): 70,000