Trust: Guernsey: sourced answers

enforcer

«Trusts for non-charitable purposes; and enforcers. 12. (1) A trust for or including non-charitable purposes created by an instrument in writing and the terms of which provide for - (a) the appointment of an enforcer in relation to the trust's non-charitable purposes, and (b) the appointment of a new enforcer at any time when there is none, is valid and enforceable in relation to its non-charitable purposes. (2) It is the fiduciary duty of an enforcer to enforce the trust in relation to its non-charitable purposes. (3) The appointment of a person as enforcer of a trust has no effect if the person is also a trustee of the trust. (4) An enforcer may resign his office by delivering a written 13 notice of resignation to the trustees. (5) Subject to subsection (6), a resignation takes effect - (a) on delivery of the notice, or (b) on such later date or on the happening of such later event as may be specified therein. (6) A resignation given to facilitate»

Source: parliament.gg · source copy as of 2026-10-03

Limited permission requires administration by a licensed fiduciary and is granted with a time limit, generally 3 years, renewable.

all Guernsey PTCs need a fiduciary licence or limited permission

«he Commission will also need to be satisfied that it has no concerns in respect of the individuals, parties or activities associated with the PTC. As a matter of general policy, the Commission will apply a standard condition on the PTC requiring it to be administered within the AML/CFT/CPF controls of the licensed fiduciary which administers it. Additionally, a permission would be granted with a time limit, generally 3 years. This can be renewed prior to the expiration date. Generally, no new application is required if there is no change to the information submitted at the time of applying for the permission. Details on the renewal process are provided within the letter issued by the Commission when the permission is granted. Application for a fiduciary licence There may be cases where a PTC may prefer to seek a fiduciary licence. This may be because a PTC considers that it has sufficient expertise as well as an appropriate AML/CFT/CPF framework in place not to require an ex»

Source: gfsc.gg · source copy as of 2026-10-03

«usinesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2020 (“the Fiduciaries Law”) Acting as trustee is a regulated activity under the Fiduciaries Law. It is the Commission’s view that PTCs fall within the scope of the Fiduciaries Law and should either apply for a licence under section 6 of the Law, or for permission under section 3(1)(ac) of the Law to operate without a licence (“limited permission”). The application process permits the Commission to conduct vetting, complementary to that performed by the administering licensee, to ensure that our records of individuals and entities associated with a PTC are accurate, that such persons are of appropriate standing, and that reputational risk to the Bailiwick is managed accordingly. This process helps to mitigate the inherent money laundering, financing of terrorism and proliferation financing risks in the sector as a whole and place the jurisdiction in a stronger position in respect of ongoing international scrutiny. …»

Source: gfsc.gg · source copy as of 2026-10-03

«ith common interest, such as trusts for one family. • The PTC will not advertise or market its services to the public in any way. • The PTC will be administered by a company licensed under the Fiduciaries Law. • The licensed fiduciary which will administer the PTC confirms to the Commission that it will retain sufficient knowledge and information about the PTC’s ownership and control structure and about its activities to be satisfied that: a) the PTC is effectively administered and governed; and b) the PTC complies with relevant laws and regulatory requirements. 1 The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (the “Enforcement Powers Law”) stipulates that no person other than a licensed fiduciary shall use any name which indicates or may reasonably be understood to indicate that such person is a licensed fiduciary. However, the Enforcement Powers Law provides that a PTC may apply to the Commission for permission to use certain names, including “trust” or “trustee”. The PTC can apply for such permission at the same time as making the application for a discretionary exemption. …»

Source: gfsc.gg · source copy as of 2026-10-03

administered by a licensed fiduciary

providing a director, secretary or signatory

«he Commission will also need to be satisfied that it has no concerns in respect of the individuals, parties or activities associated with the PTC. As a matter of general policy, the Commission will apply a standard condition on the PTC requiring it to be administered within the AML/CFT/CPF controls of the licensed fiduciary which administers it. Additionally, a permission would be granted with a time limit, generally 3 years. This can be renewed prior to the expiration date. Generally, no new application is required if there is no change to the information submitted at the time of applying for the permission. Details on the renewal process are provided within the letter issued by the Commission when the permission is granted. Application for a fiduciary licence There may be cases where a PTC may prefer to seek a fiduciary licence. This may be because a PTC considers that it has sufficient expertise as well as an appropriate AML/CFT/CPF framework in place not to require an ex»

Source: gfsc.gg · source copy as of 2026-10-03

«ith common interest, such as trusts for one family. • The PTC will not advertise or market its services to the public in any way. • The PTC will be administered by a company licensed under the Fiduciaries Law. • The licensed fiduciary which will administer the PTC confirms to the Commission that it will retain sufficient knowledge and information about the PTC’s ownership and control structure and about its activities to be satisfied that: a) the PTC is effectively administered and governed; and b) the PTC complies with relevant laws and regulatory requirements. 1 The Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020 (the “Enforcement Powers Law”) stipulates that no person other than a licensed fiduciary shall use any name which indicates or may reasonably be understood to indicate that such person is a licensed fiduciary. However, the Enforcement Powers Law provides that a PTC may apply to the Commission for permission to use certain names, including “trust” or “trustee”. The PTC can apply for such permission at the same time as making the application for a discretionary exemption. …»

Source: gfsc.gg · source copy as of 2026-10-03

GFSC under the Regulation of Fiduciaries, Administration Businesses and Company Directors Law 2020

«Law") which came into effect on 1 November 2021. Regulated fiduciary activities may only be carried on by way of business in or from the Bailiwick of Guernsey, or by a company incorporated in the Bailiwick, under a licence granted by the Commission under the above legislation. There are three categories of fiduciary licence: A primary fiduciary licence can be granted to a company, other legal person, or a partnership, and authorises all regulated fiduciary activities. A secondary fiduciary licence can be granted to a company, other legal person, or a partnership, and authorises all regulated fiduciary activities. A secondary fiduciary licensee cannot actively trade but provides fiduciary services to the clients of its primary fiduciary licensee. A personal fiduciary licence can only be granted to an individual and authorises the holder to carry on a restricted range of fiduciary activities. Those include acting as a company director, as trustee (but not as a sole trustee),»

Source: gfsc.gg · source copy as of 2026-10-03

«usinesses and Company Directors, etc. (Bailiwick of Guernsey) Law, 2020 (“the Fiduciaries Law”) Acting as trustee is a regulated activity under the Fiduciaries Law. It is the Commission’s view that PTCs fall within the scope of the Fiduciaries Law and should either apply for a licence under section 6 of the Law, or for permission under section 3(1)(ac) of the Law to operate without a licence (“limited permission”). The application process permits the Commission to conduct vetting, complementary to that performed by the administering licensee, to ensure that our records of individuals and entities associated with a PTC are accurate, that such persons are of appropriate standing, and that reputational risk to the Bailiwick is managed accordingly. This process helps to mitigate the inherent money laundering, financing of terrorism and proliferation financing risks in the sector as a whole and place the jurisdiction in a stronger position in respect of ongoing international scrutiny. …»

Source: gfsc.gg · source copy as of 2026-10-03