Originally Published in Wealthbriefing, June 2007
History and Background
Located off the south coast of England in the English Channel, the Channel Islands were caught between the French and English in their many wars. Over several centuries, the islands were granted autonomy from the English Crown.
The currency is the British pound.
Legal System
The Bailiwick of Guernsey is part of the British Isles (being a possession of the Crown) but not part of the UK. Its own government body, known as the States of Deliberation, legislates on internal matters, including fiscal and taxation. The UK Parliament may legislate, with consultation, on behalf of Guernsey on matters relating to defence and foreign policy. The Bailiwick of Guernsey includes the islands of Guernsey, Alderney, Herm, Jethou and Sark.
