Fiduciary Business in Guernsey
Guernsey is a major centre for the provision of international trust and corporate services. The sector is substantial and long-established, and benefits from and contributes to Guernsey’s mature and sophisticated professional infrastructure. Licensed entities include subsidiaries of major European, North American and South African financial institutions, subsidiaries of international and Channel Islands accountancy and legal practices and owner-managed independent trust companies. The industry provides a diverse range of trust and corporate services to an international client base covering private client, corporate and institutional businesses.
Regulated fiduciary activities may only be carried on by way of business in or from the Bailiwick of Guernsey, or by a company incorporated in the Bailiwick, under a licence granted by the Commission under the above legislation.
There are two categories of fiduciary licence:
A full fiduciary licence can only be granted to a company or a partnership, and authorises all regulated fiduciary activities.
A personal fiduciary licence can only be granted to an individual and authorises the holder to carry on a restricted range of fiduciary activities. Those include acting as a company director, as trustee (but not as a sole trustee), and as executor of a will or administrator of an estate.
Licences are granted to entities and individuals who meet the minimum criteria for licensing set out in Schedule 1 of the Law. Licensees are required to meet the criteria on an on-going basis.
There are currently approximately 200 fiduciary licensees and details are available on this website under Regulated Entities.