The signing of Jersey’s Tax Information Exchange Agreement (TIEA) with India is a welcome development in the island’s progress in establishing closer commercial ties with the country, according to Jersey Finance chief executive, Geoff Cook.
“For the last five years or so Jersey Finance has been building its links with India by hosting visits in which we showcase our services and highlight the quality of our regulatory regime, says Cook. “Senior politicians and regulators have joined us on some of our trips to meet formally with Government officials and regulators in India. Earlier this year, Jersey Finance cemented its presence further by appointing representatives in both Mumbai and Delhi.
“The signing of the TIEA is a boost to that growing commercial relationship and from an industry perspective gives further confidence to practitioners in both Jersey and India that there is mutual recognition about the quality of the standards of compliance and co-operation between regulators and tax authorities.”
Jersey remains well placed to provide the investment vehicles to conduit international capital into India for the infrastructure projects it undertakes. It possesses similar company entities to enable Indian businesses to expand internationally and access capital on foreign exchanges, including the London Stock Exchange and it has investment structures which are ideal for servicing the needs of the growing high net worth sector in India.