Funds in Guernsey
The jurisdiction of Guernsey has three Private Investor Fund Routes that can be attractive as part of private wealth management.
Funds in Guernsey
Funds are increasingly being used as part of private wealth management, offering family offices and HNWIs, a tax efficient option in addition to other wealth structuring vehicles.
Funds in Guernsey has been a particularly buoyant sector over the past few decades. This interest is reflected in a number of new fund initiatives which have recently been introduced.
The Dixcart office in Guernsey has a number of professional staff with experience of fund administration in Guernsey. The newly established ‘Dixcart Fund Administrators (Guernsey) Limited’ was licensed in May 2021, under the Protection of Investors (Bailiwick of Guernsey) Law 1987, as amended, and now offers Close-Ended Fund administration services, with particular focus on Private Investment Fund (PIF) administration services.
The Dixcart office in Guernsey also continues to hold a full fiduciary license granted by the Guernsey Financial Services Commission.
The Dixcart Guernsey office focus on the PIF regime is complimented by the fact that there are now three routes to choose from to establish a Guernsey PIF, which are as follows:
- Route 1 – the POI Licensed Manager PIF is the original PIF model whose criteria include; fewer than 50 investors, limits on new investors and those leaving the fund in a 12 month period, and, must have a Guernsey resident POI Licensed Manager appointed.
- Route 2 – the Qualifying Private Investor (QPI) PIF is a new route which does not require a GFSC licensed Manager and is aimed at investors who meet the criteria of being a QPI (Qualifying Private Investor) able to evaluate the risks and bear the consequences of the investment.
- Route 3 – the Family Relationship PIF is the second new route that does not require a GFSC Licensed Manager. This route allows for the creation of a bespoke private wealth structure as a fund and requires a family relationship between investors. This route is only open to investors who either share a family relationship or who are an ‘eligible employee’ of the family and meet the criteria of being a QPI.
Protection of Investors Licence granted by the Guernsey Financial Services Commission.
Guernsey Registered Company Number: 68952
As Malta is in the EU, this jurisdiction benefits from a series of European Union Directives allowing collective investment schemes to operate freely throughout the EU, on the basis of a single authorisation from one member state.