Toronto company Caledonia Mining says that Jersey is conveniently located for its operations in South Africa and that since the company has no commercial operations in Canada, there is no reason why shareholders should be subjected to Canadian compliance costs or withholding tax.
The announcement follows a number of other relocations to Jersey by global mining companies in recent years, with more than 20 mining, natural resources and related businesses now having set up their corporate operations in the Island.
According to Locate Jersey – the States organisation set up to encourage inward investment – the Island is an ideal launch pad for stock exchange listings around the world, which is providing work for local legal and corporate services firms.
