The Guernsey Company – Still A Flexible Planning Tool

The Guernsey company is still an extremely useful tax planning tool and in the first of a series of four articles about the Guernsey company, Mik Underdown of the Blenheim Fiduciary Group, outlines the key components that give the Guernsey company its flexibility.

During recent years the Guernsey company has been the cornerstone of much of the successful tax planning that has taken place, not only for private clients, but also for larger corporations.

The principal reasons for this success have been the flexibility provided by a beneficial tax environment, robust, yet pragmatic legislation, together with the ease of incorporation and administration.

Legislation

The statutory legislation governing the formation, regulation and operation of Guernsey companies is The Companies (Guernsey) Law, 1994 (as amended). Although it is a modern and functional piece of legislation, it is worth noting that it is in the process of being further updated.