The Channel Islands were outside the EU for the purposes of transport, since this was a service provision which was not covered by Protocol 3. However, the bulk of the energy needs in the Channel Islands are met from supplies from the EU, mainly by electricity cable interconnectors from France, so the Channel Islands have a strong interest in a properly functioning, competitive EU energy market, with security of supplies. The Channel Islands (“the Islands”) consist of the Bailiwicks of Guernsey and Jersey. Each Bailiwick has significant marine energy resources (both wind and tidal current) that, if developed, could be exported into the EU to assist with climate change commitments. EU electricity Directives in the Third Energy Package therefore generally did not apply in the Channel Islands. Like the UK and Ireland, Guernsey and Jersey are outside the visa/check-free Schengen area and so operate border controls for flights or ships arrivals from countries other than the UK or Ireland. For international agreements related to other aspects of trade and investment, the Channel Islands continue to rely on the UK to represent them internationally and extend agreements to the Channel Islands on their behalf where agreed. In Belgium alone FiscalReps have sub-classified these 18 classes into more than 150 for the purposes of accurately coding products and subsequently calculating premium tax and parafiscal charges for their clients in this country. Guernsey is part of a free-movement area with the UK and Ireland, but controls immigration from the rest of the EU. So, for example, in the application of their residency policies they cannot favour, say, British nationals over other EU nationals. Channel Islanders and EU free movement rights Guernsey and Jersey are attractive tourist destinations with their natural beauty and their unique culture and heritage. However, the bulk of the energy needs in the Channel Islands are met from supplies from the EU, mainly by electricity cable interconnectors from France, so the Channel Islands have a strong interest in a properly functioning, competitive EU energy market, with security of supplies. As a VAT system does not exist in Guernsey, and with a recent proposal to introduce one being voted out, certain claims costs incurred by the insurer will be VAT free. Competition policy Together with the Bailiwick of Jersey, the Bailiwick of Guernsey is included in the grouping known as the Channel Islands. Exports of goods from the Channel Islands to the EU and from the EU to the Channel Islands are treated as intra-EU trade. However, Channel Islands consumers going abroad (and UK/EU consumers visiting the Channel Islands) do not currently benefit from the lower voice and data charges secured by the EU Roaming Regulations. Other EU member states will not even consider the registration of non-EU entities as taxpayers. Although small, only 62 sq km (38 sq miles) in size, Guernsey harbours a strong local identity. Guernsey ceased to be ruled by Normandy in 1204. The first phase of the rollout of the Pfizer/BioNTech vaccine in Guernsey is due to begin next week. In any of these particular instances, it appears that all insurance activity and premium transactions should take place offshore. All Guernsey funds are eligible to be marketed into the European Union and European Economic Area (“EEA”) in accordance with the provisions of the AIFMD through both: 1. national private placement regimes; and 2. Whilst neither Guernsey nor Jersey is a member of the EU, some aspects of EU legislation are adopted by the Channel Islands in compliance with the bilateral agreements in place between Guernsey and Jersey and member states of the EU, including for example a number of tax information exchange agreements with … The Bailiwick of Guernsey is also not part of the European Union. Guernsey is not part of the European Union. Leaving aside the regulatory issues involved on cross-border transactions – these are issues for the lawyers to ponder – it will be no surprise to hear that the approach of each tax authority to premium tax settlement from non-admitted insurance varies from one EU member state to the next. In Belgium after only two days in a warehouse the stock can be classified as classes 8 and 9, whereas in France the stock can be warehoused for up to two months under class 7. European Union (EU) citizens moving to Guernsey must obtain a Guernsey housing license in order to occupy a local market property. So which countries are in the European Union, which countries aren’t, and are countries like Guernsey and … As Guernsey is not party to the UK Tax Treaty with the US, FET of 4% would apply to insurance premiums written on a direct basis by a Guernsey domiciled captive, or 1% of reinsurance premiums. Tourist and business visits Such people do enjoy full free movement rights throughout the EU (including the right to work and reside). All rights reserved | info[at]channelislands.eu, Channel Islands: Tuesday, December 15th, 2020 21:32 | Brussels: +1 hour, The right to reside and the right to work, Channel Islanders and EU free movement rights. However, the Channel Islands’ own legislation deals with competition questions in a manner consistent with treatment of similar questions under EU competition law. For example, the Channel Islands are covered by the UK’s ratification of the Basel Convention on the control of trans-boundary movements of hazardous waste and their disposal, although for the purposes of the EU’s implementing legislation in this area they were third countries. Looking at the 2nd Non-Life Insurance Directive (88/357/EEC) article 2(d) – Location of Risk Rules – interpretation of ‘vehicles of any type’ can also vary across member states. Like the UK and Ireland, Guernsey and Jersey are outside the visa/check-free Schengen area and so operate border controls for flights or ships arrivals from countries other than the UK or Ireland. These generally last for a maximum of 5 years, although longer licenses may … Both Bailiwicks have long agricultural and fisheries traditions. The Channel Islands are part of the Common Travel Area (CTA) with the UK and Ireland. Moving into Latin America, and again leaving regulatory issues to our colleagues in the legal profession, in Chile there may be opportunities for a local insured to file and settle withholding tax on premiums on behalf of its offshore captive insurer; similarly in Peru for Income Tax and IGV Sales Taxes, and in Colombia for IVA Sales Tax. The main areas of direct impact are those previously covered by Protocol 3. Director of Public Health Dr Nicola Brink said 975 doses arrived on the island on Thursday. The Channel Islands were outside the EU for the purposes of transport, since this was a service provision which was not covered by Protocol 3. The Bailiwick ranked 10th in the world in 2015 with an average life expectancy of 82… In Guernsey, EU Nationals and those from the European Economic Area, will have to apply for a visa via the UK online system, on top of their local employment permit. In the wake of this announcement, Guernsey’s chief minister, Jonathan Le Tocq, wrote to the European tax commissioner Pierre Moscovici to welcome the news. In the ongoing desire for global compliance, solutions are being sought to deal with 'difference in conditions/difference in limits' ('DIC-DIL') covers and other non-admitted … The UK’s withdrawal from the EU on 31 January 2020 does not directly affect the Channel Islands’ relationship with the EU 27 in key areas like tax, anti-money laundering, financial services, and data protection where the Islands were already third countries and as such remain committed to close cooperation with the EU. Guernsey neither contributes to, nor directly receives anything from, the funds of the European Union. Environmental legislation was not covered by Protocol 3 but in some cases EU environmental standards, in areas like air and water quality, are used as guidelines for domestic legislation in the Channel Islands, even though there was no legal obligation to do so. This Protocol lapsed with the UK’s withdrawal, but its substantive provisions will continue to apply during the Transition Period until 31 December 2020 provided for in the Withdrawal Agreement. Above, Oslo, who also enjoys a trade-only relationship with the EU I of 2019; there are amendments not relevant to these Regulations. EU nationals are not subject to any visa controls. The median age for males is 40 years and for females is 42 years. However, despite its location in Europe, non-EU membership and the subsequent inability to passport insurance business across the EU brings unique challenges for direct writing opportunities, along with premium tax compliance hurdles. © 2020 CIBO. They have a combined population of approximately 165,000, and a combined GDP of approximately £6.2billion. Protocol 3 excluded “Channel Islanders” from the provisions of the Treaty relating to the free movement of persons provisions of the Treaty. To add to confusion, in several EU countries IPT legislation was written many years prior to the issuance of the directive. Guernsey, second largest of the Channel Islands. During the German occupation of their island, a group of Guernsey policemen were deported to brutal labour camps in Nazi-occupied Europe after appearing before a British court. Energy The population growth rate is 0.775% with 9.62 births/1,000 population, 8 deaths/1,000 population, and annual net migration of 6.07/1,000 population. Legislation in these territories was designed for the domestic market rather than global non-admitted insurance. The life expectancy is 80.1 years for males and 84.5 years for females. Competition policy per se was not within the scope of Protocol 3 (although normal conditions of competition in trade in agricultural products apply) so there was no obligation on the Channel Islands to follow general EU competition rules. Investment In conclusion, it would appear that there are premium tax compliance issues aside from regulatory challenges for all captive insurers writing cross border business – albeit those challenges may differ slightly depending on whether the captive is based within or outside EU member states. The effect of the UK leaving the European Union is uncertain. Both have had tax crimes as a predicate offence for AML purposes for more than a decade. In simple terms, the Island is treated as part of the European Union for the purposes of free trade in goods, but otherwise is not a part of the EU. The Islands are not part of the United Kingdom, but the UK is constitutionally responsible for the Islands’ defence and for formal international representation, while Channel Islanders are British Citizens. As a VAT system does not exist in Guernsey, and with a recent proposal to introduce one being voted out, certain claims … The proximity of the Flamanville nuclear power station to the Channel Islands makes EU competence for nuclear safety standards under the Euratom Treaty of importance. One distinct advantage to Guernsey insurers not being part of the EU must not be overlooked. Energy Protection of the environment on land and in the surrounding marine areas is crucial for the unique ecosystems of the Channel Islands. Guernsey funds with a Guernsey manager which are not actively marketed into the EU/EEA fall outside the scope of AIFMD. This measure of the difference, in water … They are located just off the coast of France, in the English Channel. The Channel Islands are committed to some international environmental standards on which EU legislation has subsequently been based. In Australia local insureds can file and settle relevant charges on behalf of their captive insurer. Further details of the financial services industry in the Islands and of the relationship with the EU can be found in the separate note “Channel Islands-EU – Financial Services“. 2. Through being a part of the customs union, the Channel Islands apply the Common External Tariff (CET) to imports of goods from third countries. Its capital is St. Peter Port. Gaelic Games Europe represents European County Board GAA, European County Board LGFA and European International Board CA, each of which is governed by their respective associations, namely the Gaelic Athletic Association, the Ladies Gaelic Football Association and the Camogie Association. Tourism is therefore an important industry. Transport Whether you're an EE or EE Legacy customer, find out exactly how much it costs to make and receive calls, text and send picture messages in Guernsey. By using this site you are giving your consent for us to set cookies. Many of these products are exported to the EU. It is 30 miles (48 km) west of Normandy, France, and roughly triangular in shape. The terms relating exclusively to the Channel Islands and the Isle of Man were subsequently embodied in Protocol No. For most purposes the Channel Islands were already outside the EU (third countries) and cooperation in these areas will not be directly affected by the UK’s withdrawal. Guernsey as a domicile for captives has many advantages for EU-based corporates, not to mention the island’s beauty and its proximity to the UK and mainland Europe. The Channel Islands are third countries for the purposes of the EU’s Common Commercial Policy (CCP). 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