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Business Profile
Economy: Although agriculture is still important as a source of employment and prestige – Jersey cows are renowned throughout the world – offshore banking and tourism are the mainstays of the economy: the former because of the island’s exemption from the UK tax system and the latter through continental influence and a benign climate.
Finance and banking account for more than half of the GDP and are largely responsible for Jersey’s unemployment rate of less than one per cent. New and very highly regulated legislation designed to tighten up some of the less salubrious aspects of Jersey’s financial environment should serve to strengthen its reputation in an era when offshore finance is coming under growing political pressure through its implication in money-laundering. In 2002, Jersey also agreed to join an EU-wide initiative to improve financial transparency and tackle tax evasion.
Business: Businesspeople are generally expected to dress smartly (suits are usual apart from Fridays when office workers generally ‘dress down’). Appointments should be made and the exchange of business cards is customary. A knowledge of English is essential. Office hours: Mon-Fri 0900/0930-1700/1730.
Commercial Information: The following organisation can offer advice: Jersey Chamber of Commerce, 19 Royal Square, St Helier, Jersey JE1 4HF (tel: (01534) 724 536; fax: (01534) 734 942; e-mail: admin@jersey-chamber.co.uk).
Conferences/Conventions: Jersey plays host each year to a large number of conferences; the main period is from October to May. For further details, contact the Jersey Conference Bureau, PO Box 831, Jersey JE4 0ZU (tel: (01534) 733 449 or 500 779 (Jersey Tourism); fax: (01534) 625 424; e-mail: jcb@jersey.com; website: www.jerseyconferences.co.uk).
Copyright © 2003 Columbus Publishing Ltd.
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