What Is an Independent Guernsey Trust Company?

Trust Company

An independent guernsey trust companies provide legal entities that act as a fiduciary, agent, or trustee on behalf of a person or business for the purpose of administration, management, and the eventual transfer of assets to a beneficial party. The trust company acts as a custodian for trusts, estates, custodial arrangements, asset management, stock transfer, beneficial ownership registration, and other related arrangements.

What is an independent guernsey trust company?

There are seven specialised trust companies in the island of Guernsey: Appleby, Estera, Moore Stephens, Ashurst, Arthur Cox, Spencer Stuart, and Vardles & Co. They can provide many of the services found within a regulated trust and wealth management business. However, because the companies are not licensed as such, this service may be limited to Guernsey. Who are the companies?

Who needs a trust company?

As long as your current legal entities are set up in the Kingdom of Guernsey, you may need to consult with an independent trust company, but the average individual doesn’t. An independent trust company’s services are generally intended for a small percentage of clients who require more extensive or complex trust administration and, as such, they have a limited, low-volume client base. While some clients need these services, there are many more clients who do not need them. In fact, you can do most of your own trust administration right from your computer, mobile phone, or tablet.

How do you choose a trust company?

Independent Guernsey Trust Company is subject to the same personal and corporate law as the Bailiwick of Guernsey, the British Crown Dependency located in the English Channel. As such, we must operate within these laws. Trust companies that reside in Guernsey, however, have some specific requirements which make choosing one important. Primary Law Under the relevant British law of the island, a trust company must be registered to operate in the name of a specific entity. In addition to the British law, an independent trust company must also be registered with the Guernsey Financial Services Commission (GFSC) under the Trust and Secretarial Services Law. Due Diligence The primary responsibility of the company is to act in the best interest of the client.

Conclusion

Many companies want to find a trust company to work with in case a loved one passes away. You can never be too careful in a situation such as this, so it’s wise to take the time to research companies that offer these services and talk to an independent trust company that specializes in this kind of work. This way, you can make sure you have the right tools at your disposal when an unfortunate event occurs.

Leave a comment

Your email address will not be published.


*