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For quite a long time, the island of Guernsey was a British colony, and to this day the country is the possession of the British crown. In 1973, when the UK joined the EU, the Channel Islands (Guernsey, Jersey, Alderney) and the Isle of Man received special status as members of the European Union for trade operations. All of them are currently EU customs territory.

The island of Guernsey, while having broad rights of an autonomous region, is still highly dependent on the metropolis. The jurisdiction is characterized by a well developed financial services sector, a stable economy and favorable conditions for doing business. Meanwhile, the island continues to develop intensively as a specialized center for servicing alternative assets. These assets include private equity and alternative debt. Therefore, the jurisdiction has gained popularity and a reputation as an excellent location for the establishment of various foundations. In this article, we will present the arguments in favor of the island of Guernsey for opening a fund, and also consider some provisions of the regulation of funds in Guernsey.

Why you should set up a foundation in Guernsey

If you have not yet decided on the jurisdiction, but are considering starting a business in Guernsey, we recommend that you take note of the following information:

  • more than 100 companies of the jurisdiction are listed on the London Stock Exchange;
  • the headquarters of the International Stock Exchange (TISE) is located in the capital of Guernsey, St. Peter Port.

Registered Funds in Guernsey do not have capital, withholding or stamp duty taxes and the corporate tax rate is zero.

These are strong arguments for starting a foundation in Guernsey.

The financial regulatory regime in Guernsey fully complies with European and international standards, which includes the implementation of:

  1. AML / CFT policies;
  2. GDPR;
  3. Unified CRS - standard for automatic exchange of tax information;
  4. Law on Compliance with Tax Law on Foreign Accounts and BEPS - counteracting the erosion of the tax base.

Businessmen who plan to register a fund in Guernsey have access to a wide range of structural funds for the fund.

If you are interested in more detailed information on the topic of the article, please complete the special form below to sign up for a consultation on the regulation of funds in Guernsey. Our seasoned professionals are also ready to provide the necessary accompanying services in the process of establishing a business in this jurisdiction.