Wed, 05/07/2006 - 07:00
Crills Advocates, a full service law firm in Jersey, has joined Walkers, the offshore law firm.
Grant Stein, Global Managing Partner, Walkers, said: 'For some time, our clients in the UK and Europe have asked us for Jersey legal services. A full operating presence in Jersey will allow us to offer our clients a complete range of offshore legal services in Jersey. We will also be able to provide Jersey legal and administrative services through our offices around the world, including Cayman, the British Virgin Islands, Dubai, Hong Kong and London'.
"Jersey is a key jurisdiction for many structured finance products and investment funds promoted in Europe," said Stein. "As a result, Jersey is a market which complements our Cayman Islands' structured finance practice and market-leading hedge funds practice, and should be a core focus for Walkers."
Jersey continues to gain recognition as an important location for private equity funds and structured finance. In the last 14 months alone, private equity issues have flourished in Jersey. The establishment of several multi-billion euro funds has led to a 26% growth in the net asset value of funds under administration, fueling Jersey's reputation as a key global financial center.
The Jersey Financial Services Commission has been active in building agreements with the Dubai Financial Services Authority to ensure cooperation and information sharing between the two regulators as well as working with business and government leaders in Asia. The JFSC has also developed links with the Hong Kong Monetary Authority and the Chinese regulators.
Stein added: 'Walkers is already established in Dubai and Hong Kong, so adding Jersey is a logical next step for us. This merger provides significant opportunities for you to access a much broader range of products and services, and benefit from the advantages Jersey has to offer. This expansion also supports our recent recognition by The Lawyer as "Offshore Law Firm of the Year", which credits Walkers with leading "the strategic reshaping of the offshore market".
Jersey as a jurisdiction is also a key entry point for companies seeking foreign investments. It is possible to establish a Jersey company as a listing vehicle on the Alternative Investment Market (AIM), the London Stock Exchange's global market for smaller and growing companies. Many companies list on AIM as a way to increase their profile within key markets, raise capital, and provide liquidity for existing shareholders.
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