The formal relationship between the islands and the EU is enshrined in Protocol 3 of the UK"s 1972 European Accession Treaty. If you have been financially impacted by the coronavirus, please visit our coronavirus guidance page for information on how we could help. The Customs an… “We"re talking about the continuation of the exporting of our agricultural produce and being able to ensure that our fishermen can sell their catches in France and elsewhere in Europe,” says Senator Bailhache. The customs and excise agreement may need to be modified as to assumes and refers to EU rules. In 2011, the Channel Islands Brussels Office (CIBO) was established to promote the interests of the Channel Islands in Europe, to represent the Channel Islands to the EU institutions, and to advise the governments of Jersey and Guernsey on EU policy issues. Cook adds that the islands “are big enough to matter but small enough to be agile” and are able to adapt to virtually any change in circumstance. In a post-Brexit world, we’re expecting the Channel Islands to do more than just survive; we expect the islands to stand out as the centres of financial excellence that they are and continue to serve as vital pillars of stability that privilege the virtues of good governance, strong regulation and genuine expertise. At the moment, there are too many imponderables to be able to be in any way certain as to what a future scenario may be,” he says. Ilse du Plessis of ENSafrica in Johannesburg discusses what Brexit means for IP protection in the UK What does Brexit mean for IP protection in the UK? The islands have always positioned themselves as “good neighbours” and responsible global citizens. Summary 1. All customers visiting our Jersey branches are required to follow physical distancing measures by keeping at least 2 metres apart and to wear a face covering (visit gov.je for information). That’s if there is a trade agreement but restrictions on immigration. Indeed, a warning has been issued by one of the most senior figures in Jersey that the Channel Islands could face some "stark choices" if the UK votes to leave the EU. Welcome to the States of Guernsey's Brexit page, where you'll find important information about the UK's exit from the EU and any related impacts for our community. Their exit will be negotiated by the United Kingdom which is responsible for external relations matters. An anti-Brexit protester walks outside the Houses of Parliament in London, Jan. 17, 2019. Being outside the EU has been a benefit to the Channel Islands from a funds industry perspective. “In that particular case, it started as a black mark but led to a clearer and better understanding of what we do,” says Senator Bailhache. Brexit is an unknown quantity that would directly impact Britain’s Overseas Territories in the Caribbean. As for how a Brexit would affect the EU, the impact would be widespread and drawn-out. Brexit will have profound consequences for the 250,000 people in the UK's overseas territories. Trying to make the case now for continued special status will be more difficult because of the "rhetoric" from some quarters in Europe that the Channel Islands are tax havens. Paul Bowen QC. With a matter of months to go, the noise surrounding the in/out vote is only likely to get louder. As far as the finance industry is concerned, the general view seems to be that the quicker the outcome is known, the better. Brexit will only exacerbate those effects, with the pound now having tanked and the euro likely to fall against the dollar as well. Brexit's Effect On Trusts - An Exploration Jackie Bennion, 26 March 2019. However, the same passport issued on 30 June 2011 is regarded by the EU as expiring on 30 June 2021 So A and any time beyond that will be deemed invalid. The post Brexit status of the UK is demoted to a “third country” and strict rules apply. The effect of Brexit on Gibraltar concerns the status of Gibraltar after withdrawal of the United Kingdom from the European Union.The UK left the EU on 31 January 2020 after having voted to leave in the 2016 referendum and formally notified the EU of its intention to withdraw in March 2017. The United Kingdom leaving the European Union, while a major development, is no different. If they decide to target Europe, Channel Islands-based funds meet European standards of investor protection through compliance with the EU Alternative Investment Fund Managers Directive (AIFMD). He is a member of the advisory council of TheCityUK, a body similar to Jersey Finance that is the voice of the finance industry and wider professional services firms. Brexit and the Channel Islands, a view from Guernsey and Jersey The Channel Islands played no direct part in the recent UK Brexit referendum and have no responsibility for the outcome! He declined, however, to be drawn on what those stark choices might be and didn"t want to speculate on what may constitute an “unsuitable agreement”. © AFP/Shutterstock The UK and EU must agree a Brexit deal before the end of the transition period, which expires at the end of 2020 - AFP/Shutterstock UK diplomats have … The effect Brexit will have on the U.S. economy, let alone the U.K.'s, will largely depend on what form the departure takes and how closely aligned the U.K. stays to … Both have their own governments for populations no bigger than a market town. What no-deal Brexit means, and how it might affect daily life in the UK Here is everything you need to know about a no-deal Brexit ... Ireland, the Isle of Man and the Channel Islands… It's easy to stay current with blglobal.co.uk. Jersey ... Brexit brinkmanship: Does he mean it? What"s more, both Jersey and Guernsey have separate individual tax information exchange agreements in place with virtually all EU member states, and the islands are recognised as responsible jurisdictions by leading regulatory bodies such as the European Securities and Markets Authority. If the UK votes to leave, then Protocol 3 would fall away, leaving the islands having to find a new way forward. But whatever the mood music may be on Brexit right now, Merry - who"s based in London but spends more time in Guernsey than in any other office - says he isn"t stopping fundraising and that it"s “very much business as usual” for managers. Because no country has ever left the EU before and there are “no divorce laws in place”, Merry predicts that any exit is likely to be “difficult and uncertain”. Cyril Emile Ford Vallois . Unlike Gibraltar, citizens of the Channel Islands and the Isle of Man were not entitled to participate in the EU referendum. Brexit is another chance to demonstrate just how resilient and nimble the jurisdictions are. As the Channel Islands are not a part of the EU and do not benefit from the UK's membership (except for the provisions of Protocol 3 concerning trade in goods), Brexit will have no direct impact on the Channel Islands' financial services industries and a limited impact on trade in goods. A political shift on this scale is bound to cause uncertainty but the islands have survived and prospered through turbulent times before. Will a no-deal Brexit affect the Covid-19 vaccine? The effect of Brexit on Gibraltar concerns the status of Gibraltar after withdrawal of the United Kingdom from the European Union.The UK left the EU on 31 January 2020 after having voted to leave in the 2016 referendum and formally notified the EU of its intention to withdraw in March 2017. From a general perspective, Merry believes there are more benefits to being part of the EU than being outside. | IFLR1000 The guide to the world’s leading financial and corporate law firms The Channel Islands (Norman: Îles d'la Manche; French: Îles Anglo-Normandes or Îles de la Manche) are an archipelago in the English Channel, off the French coast of Normandy.They include two Crown dependencies: the Bailiwick of Jersey, which is the largest of the islands; and the Bailiwick of Guernsey, consisting of Guernsey, Alderney, Sark, Herm and some smaller islands. The uncertainty which greeted the initial Brexit does not seem to have tempered enthusiasm for investment and indeed the reverse is arguably true; we are seeing an increasing number of investors citing Brexit as a reason for looking to the Channel Islands in the light of Brexit. The extension grants the islands access to global trade rules once the Brexit process is completed. The general consensus among British business leaders appears to be for the UK to remain in a reformed EU. From 1 January 2020, an address for service in the UK, the Channel Islands or Gibraltar must be provided for new applications for a UK trademark. “The risk is that the UK negotiates an agreement that doesn"t suit the Channel Islands and we may be faced with some stark choices,” says Senator Bailhache. Under Protocol 3, the islands are part of the Customs Union and are essentially within the single market for free trade in goods, but are third countries - that is, outside the EU - in all other respects. A further positive is the relative political stability of the Channel Islands, especially when there is political turmoil in many parts of the world. Full details on advertising in BL Magazine, together with our annual City, Middle East and Asia editions, plus our online options are available in our. This stands to remain the same even after … “TheCityUK, like other trade associations such as the British Bankers Association, would like the UK to remain connected to Europe from a business point of view,” he says. Essentially this means that, subject to the outcome of UK/EU negotiations on the future relationship, the Islands will no longer be in the single market for trade in goods or the … This article was edited on 26 February - interviews took place prior to the Prime Minister"s announcement of the referendum. With the details of Cameron"s deal thrashed out between the UK and the 27 other member states, the PM will now lead the campaign to stay inside a reformed European Union. That’s if there is a trade agreement but restrictions on immigration. How will Brexit affect my passport? I commend this article and the fact that Jersey seems to be more caring and considerate about the views and fears of it's citizens. ( 12-4-1940 ) The islands have always positioned themselves as “good neighbours” and responsible global citizens. (For more on changes to the UK's address for service rules, please see below). Although he accepts that it will be more difficult for the islands to negotiate special terms this time around, he doesn"t think it"s impossible. The growth and success that Guernsey has experienced in the financial services sector has tracked the success of London as an international finance centre. A large part of the private equity business is placed through Luxembourg and those arrangements will remain in place whether the UK is in the EU or not,” he explains. "Our concern is around what happens to ferries going to the Channel Islands if you can't get the produce on to them that you need." “I don"t want to elaborate on that, but it"s possible that some of the terms of the new agreement would be detrimental to our interests if they were extended to us. Guernsey EN. With some of the government’s emergency support programmes becoming less generous, new COVID-19 restrictions taking effect, and the prospect of a no-trade-deal Brexit looming, the UK economy is likely to need more support in the months to come. Uncertainty over Brexit slowed the U.K.'s growth from 2.4% in 2015 to 1.5% in 2018. This is despite the majority of Channel Islands organisations surveyed saying the UK should have voted to remain in the EU (78% in Guernsey and 79% in Jersey). News, Insights. The European Union may make all sorts of threats - to ensure the islands are considered in Brexit negotiations, which are set to have 'a significant impact.' In a new report from EY on Channel Islands businesses post-Brexit, 80% of businesses surveyed think Brexit will bring opportunities their organisations can take advantage of. Whilst Brexit represents a fundamental change after 45 years of the UK being part of the EU, some factors will remain unchanged throughout and after the withdrawal process. or Channel Islands, as set out below: • EU citizens and their family members who arrived in the Isle of Man, UK or Channel Islands, before 30 March 2019, and will have been continuously resident for 5 years by 31 December 2020 will be eligible for ‘settled status’ under immigration law. Meanwhile, he believes that there would be no immediate effect on the islands if the UK were to vote to leave the EU. At times those relationships have had shaky foundations, especially when the islands were incorrectly included on tax blacklists compiled by a number of EU countries, including France. And the reality is that the Channel Islands will have to roll with the punches once the result is decided. But it"s not just mainland UK that will be affected by whatever result comes in. What no-deal Brexit means, and how it might affect daily life in the UK The Telegraph - Daniel Capurro. “There"s a belief that if Brexit were to go ahead, then centres such as Frankfurt and Luxembourg would benefit at the City"s expense.”. The recently enshrined Substance Laws in both Jersey and Guernsey are great examples of this, with both islands further demonstrating their commitment to tax transparency and anti-BEPs compliance. For this reason, an out vote requires consideration now. In 2011, the Channel Islands Brussels Office (CIBO) was established to promote the interests of the Channel Islands in Europe, to represent the Channel Islands to the EU institutions, and to advise the governments of Jersey and Guernsey on EU policy issues. And the reality is that the Channel Islands will have to roll with the punches once the result is decided. Senior Channel Island politicians are in Cardiff to discuss how Brexit could affect the Crown Dependencies. - The direct impact of Brexit on the Channel Islands own relations with the EU will be relatively small: Guernsey and Jersey are already third countries to the EU for everything except the limited areas covered by Protocol 3, and this will remain the case after Brexit. The transition period ends on 31 December 2020 at 11pm when the new relationship between the UK and EU will come into effect, whether there is an agreement or not. No thanks! Full details on advertising in BL Magazine, together with our annual City, Middle East and Asia editions, plus our online options are available in our Media Pack. Even with the numerous potential permutations of Brexit at the time of writing, the islands are well-positioned to help clients weather turbulent waters with minimal disruption, with established and effective trading positions with both the UK and the EU. This will continue post-Brexit and we will work hard to help our clients, whatever their circumstances and geographies, and to find the right solutions for them.   It's widely expected that Prime Minister Theresa May's Brexit deal, that's due to be voted on next week, will be rejected by MPs. It gives promoters the flexibility to choose whether or not to market into Europe. This article outlines the delivered and predicted impact of Brexit, the withdrawal of the United Kingdom (UK) from the European Union (EU) and the European Atomic Energy Community (EAEC or Euratom).. at 16/04/2016 10:53:09 Although I have lived in England since 1992, I am a Jerseyman at heart and give thanks that my Old Age Pension is paid by Jersey and not England. It would put jobs and growth at risk in European countries,” he says. an, Copyright © 2010-2020, Chameleon Group Ltd. Advertising If there had been a referendum the islands would overwhelmingly have voted "remain" because they already had an ideal relationship with the EU. Beginning with a refusal to sign the Treaty of Rome in 1957 [1] and culminating with the 2016 vote for Brexit, various factions in the U.K. have desired to keep mainland Europe at arm's-length.. Brexit will impact how trade in goods between the Channel Islands and the EU functions, because Protocol 3 will cease. The Channel Islands are not part of the EU and only a small percentage of residents are able to vote in the referendum on whether the UK should remain a member. However, Brexit will almost certainly affect most businesses which operate in Jersey, and individuals who live and work here, in one way or another. You must check your passport validity online as you may need to renew your it earlier than planned. In doing so, he fired the starting gun on four months of campaigning that will lead to, in his words, “one of the biggest decisions this country will face in our lifetimes - whether to remain in a reformed EU or to leave”. But if voters choose the "out" option, the Channel Islands could find themselves in choppy waters. When the UK leaves the EU, the current basis for the Channel Islands relationship with the EU (Protocol 3 of the UK Accession Treaty) will no longer apply. Understanding how it might relate to the UK Caribbean Overseas Territories’ longer term objectives could well be thought provoking for the region as a … This means that passports that were issued with a life of longer than 10 years validity, thanks to the unexpired time from the previous passport being carried over, will be invalid after 10 years. Their global partners reformed union made by key UK business bodies to the., Guernsey, Corporate, News, Insights sector has tracked the success of London an. 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