James Tracey, Managing Director of
JTC's Guernsey office, explores how the efficient and
popular Private Investment Fund (PIF) regime is improved by the
issuance of the 2021 Rules and Guidance...
Guernsey offers a number of investment structuring options,
including a variety of regulatory regimes that regulate collective
investment schemes. In 2016 Guernsey introduced the PIF regime to
offer a fast and cost-effective route to market for managers of
private funds. This has proven popular as it combines high levels
of governance with appropriate lighter touch regulation and offers
a fast-track approval by the Guernsey Financial Services Commission
(GFSC) of one business day.
As a result of engagement between the GFSC and local industry,
recent changes were made through the publication of updated 2021
Rules and Guidance which provide an option to establish a PIF
without an associated management company. The GFSC has kept the
existing option of establishing a PIF and
