Guernsey STEP Lecture

Alongside established trust structures, the BVI Private Trust Company (PTC) has become an increasingly valuable governance solution, providing families with a dedicated corporate trustee for estate, tax and succession planning.

In the first article of this series, Middle East family office succession planning: avoiding offshore probate freezes, we explored how even well-designed ownership structures can be exposed if succession planning focuses solely on legal arrangements rather than operational continuity.

In 2023, Guernsey introduced a registration regime for directors relying on the Six Directorships Exemption, fundamentally changing how these individuals are supervised and regulated. This briefing examines the scope, requirements, and implications of the Director Registration Regime, including registration procedures, ongoing obligations, and the bespoke AML/CFT framework that applies to registered directors.

Private Trust Companies (PTCs) can be a highly effective vehicle for managing trusts for families or connected groups. In this article, we explore the key aspects of PTC regulation in Guernsey, including limited permissions, fiduciary licensing and record-keeping requirements.

Guernsey has approved targeted amendments to its Trusts Law following a comprehensive review by industry and government bodies. The reforms address practical issues in trust administration, clarify key provisions around settlor and protector powers, and enhance dispute resolution mechanisms. These changes aim to maintain Guernsey's competitive position as a leading international trusts jurisdiction while preserving the core strengths of its existing legal framework.

Guernsey limited partnerships combine partnership flexibility with limited liability protection for investors. This comprehensive guide examines the legal framework governing these structures, from formation requirements and partner roles to tax treatment and dissolution procedures. Understanding these key characteristics is essential for anyone considering Guernsey limited partnerships for investment funds, joint ventures, or property holding structures.

Protectors of discretionary trusts sometimes find themselves in the unfortunate position of being asked by a beneficiary, or class of beneficiaries, to resign for reasons that are not always justified.

The X Trusts were discretionary trusts governed by English, Bermudian, and Jersey law. The trustees were prohibited from exercising certain powers without the "prior written consent” of the protectors.

In modern Guernsey trust practice, trustees are commonly vested with both a power of advancement and a power of appointment.

Taiwanese family businesses are navigating a universal challenge: how to pass value, leadership and decision-making authority to the next generation without introducing avoidable risk. Succession planning works best when it is treated as a governance and operating question (who decides what, and when), not just an asset-transfer exercise.