Vernon Breese and Wayne Hennessy-Barrett from local consultancy firm JCS have returned from the largest business development road trip in the history of Channel Islands financial services and have brought with their return great success.
The trip took 35 continual days driving across Europe starting on 3rd March and returning on 5th April 2012. JCS covered 6,780 kilometers, visited 18 cities, had 203 face-to-face meetings and made over 330 new business introductions all to promote the high standards of Jersey’s financial services.
Outcomes of the trip:
- Connections between European service providers and Jersey experts were facilitated by JCS, resulting in quick and professional answers to questions and showcasing the efficiency of professionals in the Channel Islands.
- JCS will be organising an advisory seminar in Jersey with German audit groups and tax specialists, following clear enthusiasm for such an event. This will focus on the needs of the Islands service providers’, concentrating on the regulatory obligations for German Assets under management.
- JCS have matched several leads in Europe to appropriate service providers in Jersey with the intention of establishing structures and special purpose vehicle in Jersey.
- Plans are underway for Slovakian Real Estate specialists to visit Jersey in June and meet various Real Estate board directors and tell them of Czech, Slovakian and Slovenian investment opportunities.
- JCS identified serious interest throughout Germany in the Jersey Cleantech initiative. The growth of this global market (expected to reach $500 billion annual investment by 2020) was evident too in Poland and the Czech Republic where activity, particularly in CHP, was considerable. JCS along with Jersey Cleantech, is planning to host an ideas exchange in Jersey with new friends gathered across Europe to share experiences in renewables and emerging technologies.
Vernon Breese commented:
‘Our road trip around Europe showed us that there is cause for optimism across the European investment markers, and JCS has found some clear signals of recovery. Businesses and investors across the continent are clearly interested in a variety of Jersey financial services, sometimes as part of joint ventures with other European players, and sometimes directly. Many discussions focused on the benefits of Jersey ICCs and Foundation Structures to support Real Estate investment, succession planning and other needs. We were pleased to see that property specialists across Europe are familiar with the multi-jurisdictional real estate ICC type structure and were impressed with Jersey’s status amongst offshore jurisdictions and its adoption of and adherence to international standards. We still have a great deal to do in terms of awareness in Europe of the real Jersey and this in itself comprises a great opportunity.”