Schedules 3 and 5 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 as amended and compliance with the Handbook.
Associated legislation, codes and guidance
Applicants are advised that further relevant information can be accessed from the 'Legislation and Guidance' section of our website.
Applicable financial activities
Firms conducting any of the business activities listed below are required to register with the Commission:
Acting, in the course of a business, on behalf of others in the acquisition or disposal of real property or any interest therein:
- For the purpose of or with a view to effecting the introduction to the client of a third person who wishes to acquire or (as the case may be) dispose of such an interest;
- After such an introduction has been effected in the course of that business, for the purpose of securing the disposal or (as the case may be) the acquisition of that interest.
Legal and accountancy services
The business of lawyer, notary or other independent legal professional when they prepare for or carry out transactions for a client in relation to the following activities:
- The acquisition or disposal of an interest in or in respect of real property (including for the avoidance of doubt a leasehold interest);
- The management of client money, securities or other assets;
- The management of bank, savings or securities accounts;
- The organisation of contributions for the creation, operation, management or administration of companies;
- The creation, operation or management of legal persons or arrangements, and the acquisition or disposal of business entities;
- The business of auditor, external accountant, insolvency practitioner or tax adviser.
An "independent legal professional" does not include legal professionals employed by:
- Public authorities;
- Undertakings which do not, by way of business, provide legal services to third parties.
An "auditor" means any person who, by way of business, provides audit services pursuant to any function under an enactment.
An "external accountant" means any person who, by way of business, provides accountancy services to third parties and does not include accountants employed by:
- Public authorities;
- Undertakings which do not ,by way of business, provide accountancy services to third parties.
An "insolvency practitioner" means any person who, by way of business, provides services which include acceptance of appointment as an administrator, liquidator or receiver under the Companies (Guernsey) Law, 2008, the Limited Partnerships (Guernsey) Law, 1995 or any similar enactment.
A "tax adviser" means any person who, by way of business, provides advice about the tax affairs of other persons, and, for the avoidance of doubt, in each case, does not include an employed person whose duties relate solely to the provision of audit services or accountancy services or services of the type described in the above definitions of insolvency practitioner or tax adviser, as the case may be, to his employer.
Firms undertaking the above types of business, who are not exempt under regulation 1(A) of the regulations, are known as prescribed businesses. The exemption states that firms need not register with the Commission or otherwise comply with the regulations where -
- The total turnover of the person carrying on the prescribed business in respect of the prescribed business does not exceed £50,000 per annum;
- The prescribed business - if it is an estate agent, does not hold deposits, or if it is a prescribed business other than an estate agent, does not carry out occasional transactions, that is to say any transactions involving more than £10,000 carried out by the prescribed business in question in the course of that business, where no business relationship has been proposed or established, including such transactions carried out in a single operation or two or more operations that appear to be linked;
- The services of the prescribed business are provided only to customers resident in the Bailiwick;
- The funds received by the prescribed business are drawn on a bank operating from or within the Bailiwick.
A copy of the registration form to be completed by firms for registration under the regulations is available in Documents and Forms.
Specific criteria and principles
The regulations are part of the Bailiwick's anti-money laundering (AML) and combating the financing of terrorism (CFT) framework. Firms carrying on, or holding themselves out as carrying on, the above types of business, and which provide the Commission with the basic information required by the regulations are automatically registered. For the purposes of registration under the Regulations, the Commission does not assess a registered person's fitness and propriety to carry out prescribed business nor, following a registration, does the Commission supervise a registered person's conduct of its business other than in connection with its compliance with anti-money laundering and combating of financing of terrorism obligations.
The application pack must contain:
Application form and supporting documentation
Application form and supporting documentation: Scan the fully completed application form signed and dated by the relevant officers of the applicant and supporting documentation, as itemised in the application form, together with an explanatory covering letter scheduling the contents and send electronically to [email protected] .
The fee is non-refundable; Fees
Personal Questionnaire ("OPQ") and Online Appointment ("OA")
Be guided by the application form but where applicable OPQs and/or OAs must be submitted through the Online PQ Portal.
We will assess and review the application pack and inform the applicant, or its professional advisers, of any matters requiring expansion or clarification. Once all queries have been satisfied, the application will be referred to a decision-maker. A formal response will follow decision-making.
Indicative timeframe: Within 7 calendar days of receipt of the application we will advise if the submission is complete or requires further expansion and clarification. If the submission is complete we aim to issue registration within 7 calendar days of receipt of a fully completed application pack.
The response time may be advanced or substantially delayed depending on the quality of the application pack.
We will send a written response detailing any matters that require expansion or clarification to enable the application to be referred to a decision-maker.
Sucessful applicants will be issued with a registration certificate.
Any conditions which may be imposed on the registration will be scheduled in a covering letter.
None due in the year of registration.