Cross Border Migration And Mergers Made Easier

A trend for insurance companies to relocate to Guernsey from other locations - last year there were captive transfers from Bermuda, Dublin, Isle of Man and Liechtenstein - is expected to gather momentum by the end of 1997.

New legislation to be introduced this year will make it easier for non-Guernsey companies not only to migrate to the Island but also to merge or amalgamate with existing locally-registered companies.

Diane Potter, Senior Analyst in the Commission's Insurance Division, says: 'Businesses migrating to Guernsey can now avoid the procedures and costs of liquidation and of setting up a new company here. Our new legislation will remove an enormous amount of hassle and expense from the process of relocation.'