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AIC throws support behind offshore centres
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 7/7/2008 11:24:05 AM

By: Channel Islands offer extremely high standards

The Association of Investment Companies (AIC) has written to MPs on the Treasury Select Committee in support of the Channel Islands' position as a financial centre.

The AIC is backing offshore centres and believes that the UK does not lose out as a result of investment companies locating offshore.

According to Daniel Godfrey, director general of the AIC, using domiciles such as the Channel Islands can secure significant consumer benefits which cannot be competitively delivered by a UK-based investment company.

"The fact that the UK tax regime has not kept up with the evolving needs of the sector has allowed places like the Channel Islands to offer attractive and competitive alternatives.

“Not all offshore centres or the activities carried out offshore are the same.

"But the last thing we want to see are misgivings about poor practice in one location distorting views and leading to all offshore centres being tarred with the same brush when, in reality, territories such as the Channel Islands offer extremely high standards," he said.

http://ftadviser.com/FTAdviser/Investments/News/article/20080620/34742bce-3ed6-11dd-a086-0015171400aa/AIC-throws-support-behind-offshore-centres.jsp


 

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