Overseas offices (FOI)
Overseas offices (FOI)Produced by the Freedom of Information office
Authored by States of Jersey and published on 04 May 2018.
On the Jersey Evening Post website on 7 March 2018, there was an article headed “Finance industry strategy ‘still the right one for us’:
Within this article Senator Gorst announced that Jersey Finance is planning to set up an office in New York.
Please can you tell me:
What the estimated costs are to set up an office in New York, how many staff will be needed, where the staff will be recruited from and how much the ongoing costs of running such office will be including staff salaries.
Will the States of Jersey be purchasing an office in New York or renting? What are the anticipated costs?
Jersey also runs offices in Brussels, London and Caen. What were the initial set up costs, how many staff run these offices, where were the staff recruited from and how much are the ongoing costs of running each office including staff salaries.
Do the States of Jersey own the offices in Brussels, London and Caen or are they rented? What are these costs?
How much tax revenue approximately is collected by the States Treasury for new businesses in Jersey that have originated from the Jersey offices in Brussels, London and Caen?
For ease of reference I attach the link to the Jersey Evening Post Article.
JEP article: Finance industry strategy
This information is not held by the Government of Jersey. Information requests in relation to Jersey Finance Limited should be addressed to them directly.
The Government of Jersey does not intend, at present, to establish an office in New York. There are no future plans or commitments to do so at this time.
The Government of Jersey has offices in London, Brussels, and in Caen, France.
The Jersey London Office (JLO) is a wholly owned company, grant funded by the Government of Jersey. JLO was established in 2013; set-up costs are accessible by other means and reflected in the States of Jersey Financial Report and Accounts 2013 and 2014. Four members of staff currently work for the Ministry of External Relations in the London office. The positions were recruited via open competition.
States of Jersey Financial Report and Accounts 2013
States of Jersey Financial Report and Accounts 2014
The Channel Islands Brussels Office (CIBO) is a jointly owned company, grant funded equally by the Government of Jersey and the States of Guernsey. CIBO was established in 2010 and came into being in April 2011. There was no grant administered, as part of their Joint Funding Agreement, until 2012, information in relation to which can be found in the States of Jersey Financial Report and Accounts 2012. Three members of staff currently work in CIBO. The office was established by a secondee from the private sector. Subsequent positions were recruited via open competition.
States of Jersey Financial Report and Accounts 2012
The Bureau des Iles-Anglo Normandes (BIAN) is a jointly owned company, grant funded by the Government of Jersey and the States of Guernsey. In 2014, BIAN superseded the Bureau de Jersey already established in Caen, Normandy. Costs incurred related to legal fees relating to the drafting of BIAN’s Rules and the closure of the Bureau. In accordance with their Joint Funding Agreement, BIAN was administered a grant of €85,608 from the Government of Jersey between June and December 2014. Two members of staff currently work in BIAN. The positions were recruited via open competition.
The amount of the grant paid to each entity is published in the States of Jersey accounts:
States of Jersey financial report and accounts 2016
The Government of Jersey does not own their offices in London, Brussels, and Caen. Rental costs are considered exempt under Article 33 (Commercial Interests) of the Freedom of Information (Jersey) Law 2011.
Article 33 (b) allows an authority to refuse a request for information where its disclosure would, or would be likely to, prejudice the commercial interests of a person (including the scheduled public authority holding the information). In this instance, we believe the rental amount is commercially sensitive as it was the outcome of negotiations between parties.
The Government of Jersey does not hold this information.
It should be noted that the primary function of the overseas offices (JLO, CIBO and BIAN) relate to government-to-government and diplomatic engagement on behalf of the States of Jersey. The office referred to in the attached article relates to an overseas office of Jersey Finance Limited.
Article 23 Information accessible to applicant by other means
(1) Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.
(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.
Article 33 Commercial interests
Information is qualified exempt information if –
(a) it constitutes a trade secret; or
(b) its disclosure would, or would be likely to, prejudice the commercial interests of a person (including the scheduled public authority holding the information).