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ARTICLE · 14 DECEMBER 2022

Guernsey And ATAD III

Carey Olsen
Carey Olsen
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Carey Olsen

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Due to the potential negative impact of ATAD III, fund managers and institutional investors may wish to consider replacing existing EU asset-holding companies with Guernsey holding...

GuernseyFinance and Banking
Matthew Brehaut
Matthew Brehaut
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Due to the potential negative impact of ATAD III, fund managers and institutional investors may wish to consider replacing existing EU asset-holding companies with Guernsey holding structures. The avoidance of such ATAD III implications, combined with a flexible corporate regime and certainty on substance, make Guernsey a highly attractive domicile.

WHAT IS ATAD III?

In December 2021, the European Commission ("EC") published its proposed Anti-Tax Avoidance Directive (known as "ATAD III"). ATAD III is intended to discourage the misuse of shell companies within the European Union ("EU"). The Directive is aimed at EU-resident entities which claim benefits under double taxation treaties and other EU Directives, but which lack a minimum level of economic substance.

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