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Middle East update - James Crawford, October 2021

18 October 2021

Written by James Crawford Guernsey Finance

As the mission to highlight Guernsey’s specialist financial services industry across the globe continues, WE ARE GUERNSEY Director of International Business Development James Crawford’s latest blog looks at what his team has learned about trends in the Middle East, and how Guernsey can make the most of this information.

Our research has revealed an uptick in people from the region looking to re-domicile their structures, and this is where Guernsey’s unique strengths come into their own. Guernsey is internationally renowned as a jurisdiction of substance, stability and security, and it’s great to have an opportunity to highlight that through our promotional efforts in the region, whether that be through the work of the BD team or the content produced by our communications, design and marketing teams.

Trends also suggest that there has been a big move towards family office structures in the region, and this is where Guernsey service providers can be of real value. The island is a well-respected jurisdiction in the Middle East and we continue to demonstrate why as part of our business development work.

Middle Eastern clients and trust practitioners have always valued the flexible regulation and robust legal system found in Guernsey. Clients have also used new and innovative structures that provide control over their assets, such as the Guernsey Foundation, which is often used for philanthropy.

We also see a strong desire for succession and asset protection structures, which can be non-Shariah compliant vehicles to hold assets that are located outside the Middle East. 

Preparations are well underway for our Middle East-focused private wealth roadshow from 10-11 November. The diary is filling up with meetings, and we are looking forward to sharing more information about how Guernsey solutions can work for Middle East clients.

This will include a webinar in which our delegates will discuss philanthropy, responsible and sustainable investing, family office services in Guernsey, challenges in the Middle East and Code of Corporate Governance.

If you are interested in an online meeting or attending the webinar, you can do so via our roadshow web page.

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