PCCs and ICCs as Guernsey Investment Funds

Introduction

Guernsey pioneered the concept of the cellular company and has been instrumental in establishing these innovative vehicles as internationally recognised corporate entities. The protected cell company was first developed in Guernsey in 1997. A number of other jurisdictions have since adopted similar legislation. However, a survey conducted by Reactions Magazine in June 2006 saw Guernsey voted the best domicile in Europe for PCC legislation, highly commended for its tailored legislation, and commended for its cost efficiency. Also in 2006, Guernsey introduced legislation creating a similar, but different, vehicle known as the incorporated cell company. Both protected and incorporated cell companies have proved very popular with promoters of investment funds established in Guernsey for a number of reasons.