Guernsey trusts


Produced in partnership with Gavin Ferguson and Catherine Moore of Ogier Guernsey
Practice notes

Guernsey trusts


Produced in partnership with Gavin Ferguson and Catherine Moore of Ogier Guernsey

Practice notes
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For general information on Guernsey, see Practice Note: Private Client—Guernsey—Q&A guide.

Guernsey as a Trust jurisdiction

Whilst there are examples of Guernsey’s recognition of the trust concept dating from the eighteenth century, Guernsey’s trust services industry as we know it today was born in the 1960s and 1970s as a result of foreign exchange controls, tax and succession planning and the migration of wealthy residents.

It has continued to develop to meet the needs of ever mobile international clients and also the developing international regulatory environment and is now host to approximately 150 professional licensed fiduciaries (based on primary licensee statistics), ranging from large international firms to independent boutique companies.

Trusts were regularly established in Guernsey prior to the promulgation of the Trusts (Guernsey) Law, 1989 (the 1989 Law) reflected in statutes and court decisions. The 1989 Law recognised the validity of Guernsey and foreign trusts and established principles applicable to them. It has since been superseded by the Trusts (Guernsey) Law, 2007 (the 2007 Law), which is now the main source of trusts legislation.

Pursuant

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Jurisdiction(s):
United Kingdom
Key definition:
Trust definition
What does Trust mean?

An equitable obligation (ie a duty imposed by the law of equity), binding the trustee to deal with property over which he has control (the trust property), for the benefit of persons (the beneficiaries), of whom the trustee may be one, and any one of whom may enforce the obligation.

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