International Financial Recruitment Ltd.
Profile - Channel Islands
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Copyright 2009. All rights reserved. International Financial Recruitment Ltd. Some information on this page obtained through The World Factbook.
Channel Islands
Jersey
Guernsey
JERSEY
Background - Jersey and the other Channel Islands represent the last remnants of the
medieval Dukedom of Normandy that held sway in both France and England. These islands
were the only British soil occupied by German troops in World War II. Jersey is a British crown
dependency, but is not part of the UK. However, the UK Government is constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, island in the English Channel, northwest of France
Climate - temperate; mild winters and cool summers
Size - 116 sq km
Population - 91,533 (July 2008 est.)
National Holiday - Liberation Day, 9 May (1945)
Currency - British pound (GBP); note - there is also a Jersey pound
Exchange Rate 2008 (est) - Jersey pounds per US dollar - 0.5302 (2007 - 0.4993)
note: the Jersey pound is at par with the British pound
Capital - Saint Helier , time difference: UTC 0 (5 hours ahead of Washington, DC during
Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy , British crown dependency , English law
and local statute; justice is administered by the Royal Court
Economy - Jersey's economy is based on international financial services, agriculture, and
tourism. In 2005 the finance sector accounted for about 50% of the island's output. Potatoes,
cauliflower, tomatoes, and especially flowers are important export crops, shipped mostly to the
UK. The Jersey breed of dairy cattle is known worldwide and represents an important export
income earner. Milk products go to the UK and other EU countries. Tourism accounts for
one-quarter of GDP. In recent years, the government has encouraged light industry to locate in
Jersey, with the result that an electronics industry has developed alongside the traditional
manufacturing of knitwear. All raw material and energy requirements are imported, as well as a
large share of Jersey's food needs. Light taxes and death duties make the island a popular tax
haven. Living standards come close to those of the UK.
GUERNSEY
Background - Guernsey and the other Channel Islands represent the last remnants of the
medieval Dukedom of Normandy, which held sway in both France and England. The islands
were the only British soil occupied by German troops in World War II. Guernsey is a British
crown dependency, but is not part of the UK. However, the UK Government is constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, islands in the English Channel, northwest of France
Climate - temperate with mild winters and cool summers
Size - 78 sq km , includes Alderney, Guernsey, Herm, Sark, and some other smaller islands
Population - 65,726 (July 2008 est.)
National Holiday - Liberation Day, 9 May (1945)
Currency - British pound (GBP); note - there is also a Guernsey pound
Exchange Rate 2008 (est) - Guernsey pounds per US dollar - 0.5302 (2007 - 0.4993)
note: the Guernsey pound is at par with the British pound
Capital - Saint Peter Port , time difference: UTC 0 (5 hours ahead of Washington, DC during
Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy, British crown dependency , English law
and local statutes
Economy - Financial services - banking, fund management, insurance - account for about 23%
of employment and 55% of total income in this tiny, prosperous Channel Island economy.
Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been
declining. Financial services, construction, retail, and the public sector have been growing.
Light tax and death duties make Guernsey a popular tax haven. The evolving economic
integration of the EU nations is changing the environment under which Guernsey operates.
Jersey
Guernsey
JERSEY
Background - Jersey and the other Channel Islands represent the last remnants of the
medieval Dukedom of Normandy that held sway in both France and England. These islands
were the only British soil occupied by German troops in World War II. Jersey is a British crown
dependency, but is not part of the UK. However, the UK Government is constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, island in the English Channel, northwest of France
Climate - temperate; mild winters and cool summers
Size - 116 sq km
Population - 91,533 (July 2008 est.)
National Holiday - Liberation Day, 9 May (1945)
Currency - British pound (GBP); note - there is also a Jersey pound
Exchange Rate 2008 (est) - Jersey pounds per US dollar - 0.5302 (2007 - 0.4993)
note: the Jersey pound is at par with the British pound
Capital - Saint Helier , time difference: UTC 0 (5 hours ahead of Washington, DC during
Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy , British crown dependency , English law
and local statute; justice is administered by the Royal Court
Economy - Jersey's economy is based on international financial services, agriculture, and
tourism. In 2005 the finance sector accounted for about 50% of the island's output. Potatoes,
cauliflower, tomatoes, and especially flowers are important export crops, shipped mostly to the
UK. The Jersey breed of dairy cattle is known worldwide and represents an important export
income earner. Milk products go to the UK and other EU countries. Tourism accounts for
one-quarter of GDP. In recent years, the government has encouraged light industry to locate in
Jersey, with the result that an electronics industry has developed alongside the traditional
manufacturing of knitwear. All raw material and energy requirements are imported, as well as a
large share of Jersey's food needs. Light taxes and death duties make the island a popular tax
haven. Living standards come close to those of the UK.
GUERNSEY
Background - Guernsey and the other Channel Islands represent the last remnants of the
medieval Dukedom of Normandy, which held sway in both France and England. The islands
were the only British soil occupied by German troops in World War II. Guernsey is a British
crown dependency, but is not part of the UK. However, the UK Government is constitutionally
responsible for its defense and international representation.
Location/Geography - Western Europe, islands in the English Channel, northwest of France
Climate - temperate with mild winters and cool summers
Size - 78 sq km , includes Alderney, Guernsey, Herm, Sark, and some other smaller islands
Population - 65,726 (July 2008 est.)
National Holiday - Liberation Day, 9 May (1945)
Currency - British pound (GBP); note - there is also a Guernsey pound
Exchange Rate 2008 (est) - Guernsey pounds per US dollar - 0.5302 (2007 - 0.4993)
note: the Guernsey pound is at par with the British pound
Capital - Saint Peter Port , time difference: UTC 0 (5 hours ahead of Washington, DC during
Standard Time)
daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October
Government/Legal System - parliamentary democracy, British crown dependency , English law
and local statutes
Economy - Financial services - banking, fund management, insurance - account for about 23%
of employment and 55% of total income in this tiny, prosperous Channel Island economy.
Tourism, manufacturing, and horticulture, mainly tomatoes and cut flowers, have been
declining. Financial services, construction, retail, and the public sector have been growing.
Light tax and death duties make Guernsey a popular tax haven. The evolving economic
integration of the EU nations is changing the environment under which Guernsey operates.