Establishing open-ended funds in Guernsey
This document is intended to provide a brief overview of some of the legal and regulatory considerations to be taken into account when establishing a new open-ended fund in Guernsey.
A new Fund can be established using any one of a range of vehicles including traditional limited liability companies, protected cell companies, incorporated cell companies, unit trusts and limited partnerships. Legislation to establish “Foundations” has been prepared and is awaiting approval by the States of Guernsey. The choice of vehicle for a new Fund will usually be driven by a number of considerations including the nature of the underlying assets, taxation, market practise and investor requirements. More detailed information can be provided on the range of vehicles available and their respective characteristics.
When launching a new Fund it is necessary to identify a promoter. In some cases the identity of the Promoter is clear. In other instances the identity of the Promoter is not so clear. As a general rule, the Promoter is usually the person, or persons, establishing the Fund and ultimately responsible for ensuring its success. In the case of a failed launch the Promoter is usually the person, or persons, responsible for paying the costs…
If you are registered and logged in to the site, click on the link below to read the rest of the Mourant Ozannes briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Mourant Ozannes
News from The Lawyer
Briefings from Mourant Ozannes
The Cayman Islands’ Grand Court (Amendment) Law 2014 introduces the legislative clarification of the law providing for interim relief in aid of foreign proceedings.
The Court of Appeal has considered whether an employee who was unwilling to work out his notice period could treat the contract as at an end and work for a competitor.