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Tim Clipstone
Partner | Legal
British Virgin Islands, Guernsey
![Headshot of Tim Clipstone](/media/bxflmwlt/tim-clipstone.jpg?cc=0.44760019818746677,0.12184977509834408,0.1643387966132266,0.295476042920715&width=300&height=300&quality=90)
Tim Clipstone
Partner
British Virgin Islands, Guernsey
Big things are happening at Ogier. Change is embedded in everything we do. It is redefining our talent, our ways of working, our platforms of delivery, our culture.
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We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
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Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
We have the expertise to handle the most demanding transactions. Our commercial understanding and experience of working with leading financial institutions, professional advisers and regulatory bodies means we add real value to clients’ businesses.
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Our sector approach relies on smart collaboration between teams who have a deep understanding of related businesses and industry dynamics. The specific combination of our highly informed experts helps our clients to see around corners.
Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Irish, Jersey and Luxembourg law through our global network of offices across the Asian, Caribbean and European timezones. Ogier is the only firm to advise on this unique combination of laws.
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Insight
22 June 2020
Guernsey
Guernsey is the first place in the British Isles to have been declared COVID-19 free and, as of this weekend, has lifted its internal restrictions on everyday life.
Notwithstanding an island-wide lockdown for more than two months, business in the island's financial services community has continued to function almost seamlessly. Most firms were well equipped to deal with the need to work from home from a technology and management systems perspective, having increasingly recognised the benefits of flexible working in recent years. Ogier in particular has long embraced the idea of flexible working and their team members being technology savvy.
To maintain no or low levels of infection in the island, Guernsey will need to maintain controls on travel to and from the island. Certain measures have been taken in the financial services industry to reflect this, including a relaxation of certain aspects of Guernsey's economic substance requirements for the time being. The sector's ability to continue to deliver, if not exceed, expectations over this period however is testament to the quality of the island's professionals and the economic substance of the jurisdiction itself.
Law firms and administrators have been working hard to provide proxy solutions for clients needing to hold meetings from Guernsey and assist with other COVID-19 challenges and will no doubt continue to respond receptively as our "new normal" emerges in the coming months, ensuring Guernsey remains a jurisdiction of choice for fund promoters and investors alike.
This is, of course, against a background of tax neutrality, a proportionate, flexible and responsive regulatory regime and a comparatively lower costs base to other financial centres - all factors which were, in our pre-COVID world, important and which, in an increasingly costs-sensitive climate, will become manifestly more so. For promoters seeking to explore more of what Guernsey has to offer, the below links provide more information on establishing a fund in Guernsey and a practical comparison of Guernsey's most flexible regulated fund products.
For more information read our
Tim Clipstone
Partner | Legal
British Virgin Islands, Guernsey
Tim Clipstone
Partner
British Virgin Islands, Guernsey
Contact Tim
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Bryon Rees
Partner | Legal
Guernsey
Bryon Rees
Partner
Guernsey
Contact Bryon
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Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.
This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.
Regulatory information can be found under Legal Notice
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