Guernsey Foundations – An Alternative For Asset Protection

Fiona Le Poidevin, chief executive of Guernsey Finance, explores why the Island's new foundations legislation offers an attractive alternative for wealthy Middle Eastern individuals to protect their assets.

Guernsey Finance, the promotional agency for the Island's finance industry, was exhibiting at the Opal Middle Eastern Family Office Symposium in Dubai during November and a key trend to emerge was the extent to which wealthy Middle Eastern clients are seeking out ways to protect their assets.

Trusts vs. Foundations

Guernsey is a leading International Finance Centre (IFC) which has significant experience in servicing structures, such as companies, partnerships and trusts, formed for the protection of assets. Indeed, many of the Island's 150 licensed fiduciaries already have Middle Eastern clients who have established structures, including trusts. However, the trust is rooted in common law and therefore, while it is a tool that is popular in the US, UK, and