Guide to Guernsey foundations

The Foundations (Guernsey) Law 2012 came into force on 8 January 2013 and the Guernsey Registry has been accepting applications for registration since 9 January 2013.

This additional or alternative wealth management vehicle and the structuring opportunities that accompany it are likely to be of considerable interest to a wide variety of clients, in particular for those from civil law countries less familiar with trusts. It will also be of interest to those with existing foundations who are attracted to Guernsey’s G20 ‘white’ list status and excellent wealth management reputation, and who are looking to migrate their existing foundations from less well-regulated or less convenient jurisdictions.

The Guernsey foundation is an incorporated entity with separate legal personality but which, unlike a company, does not have shareholders. Instead, it holds assets in its own name on behalf of beneficiaries, or particular purposes, or both, and it operates in accordance with a constitution comprising of a charter and a set of rules. Unlike a company, it cannot carry out commercial activities except those necessary for, or ancillary or incidental to, its purpose. As such it is an entirely new legal entity for Guernsey; it will look similar to a company but its operation is more akin to that of a trust…

If you are registered and logged in to the site, click on the link below to read the rest of the Appleby briefing. If not, please register or sign in with your details below.

Sign in or Register to continue reading this article

Sign in

Register

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

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

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.

Briefings from Appleby

View more briefings from Appleby

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

1st Floor
3 Copthall Avenue
London
EC2R 7BH
UK
http://www.applebyglobal.com

Total staff: 528
Partners: 64