Guernsey should promote itself more strongly as a home for wealthy people, according to an island businesswoman.
Jo Stoddart says Guernsey should copy Jersey by setting up an office dedicated to attracting rich immigrants.
Locate Jersey claims to have created 1,200 jobs since it was set up in 2008.
Guernsey has launched a website to promote the island but does not have staff dedicated to the role.
Ms Stoddart told BBC News rich people in London were actively looking for other places to live but did not know about Guernsey.
"Locate Jersey makes it very obvious who the people are to contact," she said.
"Guernsey would benefit from having an individual or a small group of individuals who are the main point of contact.
"Jersey are stealing a march on us. Even Alderney has a relocation officer going out there to promote the island."
In Guernsey, no individual pays more than £110,000 in income tax, as long as the income is earned outside the island.
Wealthy people who want to move to Jersey must pay £125,000 a year in tax and prove they are of good character.