Guernsey Private Trust Companies - Recent Enhancements
Guernsey has long been favoured as a jurisdiction of choice for the establishment and operation of Private Trust Companies (PTCs) and family office structures.
With effect from June 2019, the Guernsey Financial Services Commission (GFSC) has made certain enhancements to the existing PTC exemption regime through the publication of an updated guidance document. Whilst still referred to as “guidance”, the document sets out the circumstances in which the GFSC is willing to consider granting an exemption and, therefore, represents a clear set of criteria that will apply in the case of most PTCs. The following briefing note provides an overview of the changes introduced under the new regime.
Written by Andrew Walters