The outcome of the UK referendum on 23 June 2016 to
leave the EU was both shocking and unprecedented but Guernsey is
well positioned to meet any challenges. Richard Sharp, a partner
with Bedell Cristin explains.
As we know, Guernsey's status as a Crown Dependency
gives it the right to make its own laws, including those concerning
taxation and Brexit does not put Guernsey's tax neutrality
under threat.
Guernsey's closest trading relationship is with the UK, but
over the years, the island has successfully negotiated its own
access to EU fnancial markets and there is no indication that
Brexit will impact such access directly.
The UK government formally notifed the European Council of its
decision to leave the EU on 29 March 2017 by triggering Article 50
of the Lisbon Treaty. The exit period is expected to last at least
two years while the UK negotiates the terms of its exit. Adding to
the complexity of the outcome is the recent general election result
in which the
