Trusts In Guernsey – Evolving In An Increasingly Fiscal World

William Simpson and Catherine Moore of Ogier in Guernsey look at the evolution of Guernsey's trust industry.

While trusts have been established in Guernsey for many years, their operation is now governed by a modern, comprehensive statute entitled the Trusts (Guernsey) Law, 2007 (the Trusts Law) brought into force in 2008. The Trusts Law was only introduced following significant consultation with both experts and industry locally and elsewhere, making it a truly practical, modern piece of legislation.

The Trusts Law is one of the most modern of its kind in the world having introduced a number of unique provisions which many jurisdictions have, unsurprisingly, subsequently adopted.