10 July 2013Accounting & tax analysis

Jersey/Hong Kong DTA ratified

The Double Taxation Agreement (DTA) between Jersey and Hong Kong, originally signed in February of last year, has been formally introduced into law. The implementation of the agreement coincided with a visit to Hong Kong by Jersey’s chief minister senator Ian Gorst.

“The benefits of this DTA right across Jersey’s wealth management, expat banking and corporate service areas are significant,” said Geoff Cook, chief executive of Jersey Finance.

“This DTA will greatly add to the reasons for investors and institutions in Hong Kong to have confidence in and choose Jersey as their preferred European financial centre to invest in Western markets. It is a major milestone of recognition between the jurisdictions, and a great achievement by all involved, in both Jersey and Hong Kong.”