Why choose Guernsey for family office and trust services?

This article explores why Guernsey continues to be a leading international destination for family office and trust services. Find out how Guernsey’s political stability and well-established financial services industry make it an ideal location for the management and protection of assets.

Why Guernsey?

Guernsey, the second largest of the Channel Islands, has a long history of providing fiduciary services, such as the management of trusts and private limited companies. It is a leading international financial centre and is well respected for the provision of high-quality services in a strongly regulated jurisdiction, delivered by talented and experienced people.

The island’s long-standing political and economic stability, proximity to the United Kingdom, and a favourable tax regime make it an attractive destination for wealth management and trust services.

Family office and trust services in Guernsey

Guernsey has an established financial services industry, which includes banks, investment managers, and professional service providers such as accountants, lawyers, and trustees. In addition, trustees in Guernsey are accustomed to working closely with professional service providers in other parts of the world, as part of the international financial services industry.

International clients and their advisers also tend to appreciate the convenience of the island’s proximity to the United Kingdom. Clients can be met in Guernsey but also in London and other parts of the UK.

Legal framework and trust recognition

The family office and trust services industry is well established in Guernsey and indeed, trusts have been established in Guernsey for more than 160 years. Guernsey codified its trust law in 1989, and this was updated and expanded in 2007. The law is supported by a wealth of decided cases.

In addition to trusts which are governed by Guernsey law, trusts governed by the law of other recognised trust law jurisdictions can also be administered in Guernsey.

Tax considerations and advantages

The island of Guernsey is tax neutral for non-residents. There are no capital taxes on the island, and with the exception of income from Guernsey property, income generated by a structure established by a non-resident falls outside the Guernsey tax net.

Guernsey trustee licensing

The Guernsey trustee licencing regime ensures that trustees meet high standards of capital, competence and probity, providing clients and their advisers with added confidence and reassurance.

Summit Trust Guernsey’s family office and trust services

Summit Trust Guernsey combines the advantages of an institutional trustee—such as robust governance, a strong compliance culture, and a prudent approach to risk—with a personalised, professional, and high-quality service. As international trustees, we travel extensively to meet our clients.

The Summit Trust Guernsey team is responsible for an international and diverse client base and all relationships are director-led. Summit Trust Guernsey’s directors have extensive experience in dealing with high-net-worth clients and their families as well as managing extensive and often complex trust and corporate structures.

Explore Summit Trust Guernsey’s services

Summit Trust Guernsey was established in 2008 under the name of Aquitaine Group Limited and presently employs over 40 people in Guernsey. It is a member of the Summit Group, which also has offices in Cayman, Jersey, the United Arab Emirates, the United Kingdom, Saudi Arabia, and Switzerland.

Our expertise in managing trust and corporate structures across multiple jurisdictions ensures that we can provide tailored solutions that meet your unique goals and needs. We pride ourselves on offering a bespoke and boutique service tailored to each individual client. We know our clients, their business goals, family dynamics and personal desires and our emotional intelligence allows us to be a trusted partner as well as an effective trustee.

Learn more about our family office and trust services and discover how we can help facilitate the smooth transition of your wealth management to Guernsey.

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