Director Registration Regime
Director Registration Regime
Do I meet the Director Registration Regime criteria?
The Bailiwick has a supervisory framework for individuals to register with the Commission where they are utilising the exemption set out in section 3(1)(g) of The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 ("the Fiduciaries Law") (i.e., acting as a director of not more than six companies, being directorships which are not the subject of an exemption contained in any other paragraph of subsection 3(1) or in paragraphs 1(2) and 1(3) of Schedule 5 to the Criminal Justice (Proceeds of Crime) (Bailiwick of Guernsey) Law, 1999 as amended ("the Proceeds of Crime Law")).
Schedule 5 to the Proceeds of Crime Law sets out that individuals utilising the ‘six directorship exemption’, and not exempted under paragraphs 1(2) and 1(3) of Schedule 5 to the Proceeds of Crime Law, are required to register with the Commission, pay a registration and an annual fee, provide certain information, and validate this on a periodic basis.
Potential applicants can use the Commission's decision tree to assist in determining whether they are required to register under the Director Registration Regime ("DRR"). The Commission has also produced Guidance on the Requirements for Individuals Acting as a Director.
For individuals who have identified that they instead fall into scope of becoming a Personal Fiduciary licensee, more information on the application process can be found on the Personal Fiduciary Application page.
DRR registration process
Registration comprises 2 parts:
- Part 1 requires the DRR Application Form to be fully completed and emailed to [email protected]
- Part 2 requires completion of the Director Registration Regime Return (Form 155) ("the DRR Return") via the Commission’s Online Submissions portal when advised to do so by the Commission.
An individual’s registration is complete when parts 1 and 2 have been completed and submitted and the Commission has confirmed registration.
If you have any questions regarding how to register under the DRR please email [email protected] after consulting the guidance.
With effect from 8 July 2023, a non-refundable registration fee of of £75 is due when submitting the Part 1 DRR Application Form and should be paid in line with the instructions given within the Part 1 DRR Application Form.
Indicative timeframe: Within 7 calendar days of receipt of the Part 1 DRR Application Form, the Commission will provide further instructions regarding completion of Part 2 via the Commission’s Online Submissions portal.
Upon completion of both Parts 1 and 2, applicants will be given confirmation of their registration by the Commission.
None due in the year of registration however an annual fee of £75 is due thereafter on 1 January. The Commission will issue an invoice via email.
If you have any questions in respect of the AML/CFT requirements after consulting the DRR specific AML/CFT Guidance please email [email protected]
Periodic validation of directorship information
Schedule 5 to the Proceeds of Crime Law sets out that DRR registrants must provide to the Commission each year a statement of the directorships held by the individual. The DRR Return serves as the method by which you validate your information periodically and will be made available for completion annually on 30 September for submission by 14 November.
Interim updates in respect of your directorship information are not required except where you are no longer required to be registered under the DRR, in which case a De-registration Notification (Form 236) should be completed. Where you identify errors within your original submission and/or need to make changes to your personal information (name, address, or email address), these should be notified to the Commission via the Online Portal’s secure messaging facility.
If you are no longer required to be registered under the Director Registration Regime because you:
- no longer hold any directorships which fall under section 3(1)(g) of the Fiduciaries Law;
- hold directorships which fall under section 3(1)(g) of the Fiduciaries Law but all of those directorships are exempted through paragraphs 1(2) and 1(3) of Schedule 5 to the Proceeds of Crime Law; or
- are licensed as a Personal Fiduciary Licensee
please submit a de-registration Notification Form 236.
Guidance on what to include within this notification is included within the DRR Return Completion Guidance document.
The Commission will review your de-registration notification and may contact you for further information. You are considered registered until such point as the Commission confirms that your de-registration has been processed and you are no longer registered under the DRR.