• IN479 - Guernsey Register of Beneficial Ownership – A Unique Approach

    Background

    In February 2017, Guernsey’s Government approved the establishment of a register of beneficial ownership information.

    In implementing this initiative, Guernsey, along with a large number of other jurisdictions, is maintaining its commitment to meet international standards on tax transparency and is adopting the recommendations of the Financial Action Task Force.

    This new Register … more

  • IN469 - The Annual Dixcart Seminar - March 2017: Risk Mitigation for Family Offices and Corporates

    As many of you know, each year Dixcart hosts a seminar. This year the topic was risk mitigation for family offices and corporates and was held at the Institute of Chartered Accountants in England and Wales (ICAEW) in London.

    Risk is an increasingly important factor to mitigate for any business and for this particular seminar Dixcart chose to highlight the areas of geographic risk, family risk, … more

  • IN466 - Dixcart Business Centres: Serviced Offices Where and Why?

    Dixcart Business Centres offer extensive serviced office capacity and are ideal for companies establishing themselves in a new location. Dixcart Business Centres are located in Guernsey, the Isle of Man, Madeira (Portugal), Malta and the UK.

    Business Centres can offer a productive work environment and a cost effective option for organisations with international interests wishing to operate from … more

  • IN465 - 2-REG Channel Islands Commercial Aircraft Registry: Case History Highlighting the Advantages of Temporary Registration

    Established in December 2013, “2-REG”, the Channel Islands Aircraft Registry, is the aircraft registry of the States of Guernsey. The nationality mark is ‘2’ followed by four letters, allowing for attractive registration marks.

    There have been 94 registrations to date of lessor owned aircraft, corporate aircraft, including a Boeing 787-8 Dreamliner, and locally owned aircraft. The registry is … more

  • IN461 - The Advantages and Relevant Procedures to Migrate a Company or Foundation to Guernsey

    Why is Guernsey an Attractive Jurisdiction for Companies?

    There are a number of reasons why an individual may wish to migrate a company or foundation from its current jurisdiction of registration to the Bailiwick of Guernsey.

    Guernsey is a well-regulated and internationally respected international jurisdiction.  It is also a politically stable jurisdiction with its own autonomous government but … more

  • IN455 - Image Rights Registration and the Future Benefits This Can Offer

    Guernsey’s innovative legislation on Image Rights (IR) became law in November 2012 and it remains the only jurisdiction in the world to date where an individual, group or legal entity can register their Image Rights on a public register. 

    Registrations have been steady since that date, with currently 64 IR registrations for individuals and entities from a broad range of human activity, including … more

  • IN449 - Guernsey and the Isle of Man: Convenient Choices to Reset the Clock for UK Non-Domiciles

    The UK non-domiciles regime remains a relatively attractive option with UK non-domiciliaries (“non-doms”) continuing to have the opportunity to enjoy significant tax advantages for a period of up to 15 years.

    Changes to UK Non-Dom Legislation

    Major reforms regarding how non-UK domiciliaries are taxed were however introduced in April 2017.

    As detailed in the Dixcart note: UK Tax Residence - … more

  • IN434 - CRS and Transparency - Clients Should Assess and Act Now

    The 2004 Disclosure of Tax Avoidance Schemes (DOTAS), introduced by the UK in 2004, was one of the first pieces of legislation, globally, to address the topic of transparency and disclosure.

    With the on-going implementation of the OECD’s Common Reporting Standards (CRS), the prescient title of UK HMRC’s 2013 publication ‘No Safe Havens’ is more relevant than ever.

    Commercial and wealth … more

  • IN422 - Family Offices and Cell Company Investment

    Guernsey pioneered the concept of Cell Companies initially to provide for segregated captive insurance. There entities are also referred to as Segregated Cell Companies and Segregated Portfolio Companies.

    Creative Uses of Cell Companies

    Since the introduction of the Protected Cell Company (PCC), the cell company concept has been further enhanced by the innovation of the Incorporated Cell … more

  • INGF1 - Guernsey Foundations

    Background

    On 25 July 2012 the States of Deliberation, Guernsey’s Parliament, approved the projet de loi The Foundations (Guernsey) Law, 2012 (the “Law”). The Law came into force on 7 January 2013.

    The Law is divided into three parts - the substantive law and two schedules. The first schedule deals with administrative matters, such as the establishment of foundations and their registration. The … more

  • IN286 - Developing Trends: International Business In Guernsey

    Background

    International business centres each offer their own unique range of features and  advantages.

    A distinguishing characteristic of the jurisdiction of Guernsey is the expertise and experience offered by the professionals on the island.

    Examples of the Types of Businesses Moving to Guernsey

    The depth of fiduciary experience available in Guernsey means that a number of business … more

  • IN291 - Captive Insurance - New Opportunities

    UK Controlled Foreign Company Rule

    In a hardening insurance market changes in the UK Controlled Foreign Company (CFC) rules can, in the correct circumstances, make captive insurance arrangements more attractive to UK businesses.

    The CFC rules are essentially anti-avoidance rules designed to prevent a company from artificially moving its profits abroad, to a country with more favourable tax … more

  • JNA: Formation of Companies in Guernsey

    Updated 27 April 2016

    WHY USE GUERNSEY?

    Guernsey is a leading international financial centre with a good reputation and excellent standards. The Island is also one of the leading jurisdictions providing international insurance services and is developing a base from which internationally mobile individuals can be organised. Factors contributing to and enhancing the status of this jurisdiction … more

  • IN417 - Why the Choice of Trustee is so Important

    The job of trustee is an onerous one, which makes choosing the right trustee extremely important.

    The name of the arrangement - ‘trust’, provides a clear indication as to the most important emotion that the settlor must have with respect to the trustee.

    The Role of Trustee

    The settlor of a trust gives the legal ownership of the assets put into the trust to the trustee, who looks after those … more

  • IN393 - Moving to Guernsey: The Benefits and Tax Efficiencies

    The island of Guernsey is the second largest of the Channel Islands, which are situated in the English Channel close to the French coast of Normandy. The Bailiwick of Guernsey comprises three separate jurisdictions: Guernsey, Alderney and Sark. Guernsey is the largest and most populated island in the Bailiwick. Guernsey combines many of the reassuring elements of UK culture with the benefits of … more

  • IN409 - CROWD FUNDING - Professional Trustee Services for Commercial UK Fundraising and Borrowing Arrangements

    Alternative project finance continues to remain a popular route to commercial fundraising, particularly in the UK commercial property development industry. Businesses continue to diversify their funding arrangements by considering alternative finance structures. These structures can take a number of different forms, with the most common being equity and debt based alternative investments, with UK … more

  • IN287 - The Family Office: What, Why and Who?

    Families are becoming more and more mobile. There are many attractive residence schemes available around the world and family members are increasingly living in different countries. As this trend continues the management and control of family wealth across jurisdictions, in a tax efficient manner, becomes even more important.  

    Dixcart provides family office services from a number of offices, … more

  • IN324 - Image Rights - Register in Guernsey Now In Anticipation of Future Fame

    Many well-known individuals, including national sporting heroes and recording artists, have already registered their image rights in Guernsey to maximise the potential earning value of their personal brand.

    Individuals with the potential ability to generate significant wealth from the use of their image, in addition to their earnings, should register their image rights. It can be even more … more

  • IN380 - Foundations - Why? And Consideration of Various Jurisdictions: Guernsey, The Isle of Man, Malta and Nevis

    Foundations are useful tools in terms of wealth management and asset protection. The jurisdictions of Guernsey, the Isle of Man, Malta and Nevis are attractive locations in which to establish a foundation. Each of these jurisdictions offer a number of potential advantages and the most appropriate jurisdiction will depend upon each specific situation.

    Foundations: A Definition

    A foundation is a … more

  • IN312 - Aircraft Registration: Guernsey, Isle of Man, Malta and Portugal

    Dixcart provides aircraft registration services in a number of jurisdictions. These jurisdictions have registries which offer a variety of advantages and tax efficiencies. 

    Dixcart can advise on aircraft registration and help coordinate the aircraft registration process in: Guernsey, the Isle of Man, Malta and Portugal. This can include establishing and administering the relevant ownership … more

  • IN387 - FinTech: Why Use Guernsey as a Base for Development and Global Operations?

    The global growth in FinTech has been rapid and the sector is predicted to continue this strong pattern of growth.

    The European Commission defines FinTech as “the combination of innovative financial services and the availability of capital through the use of new (digital) technologies, such as crowdfunding”.

    To ensure that the island is well placed to take advantage of the opportunities within … more

  • SA2 - Guernsey: An Attractive Domicile for South African Private Wealth

    Guernsey is one of the leading tax-free jurisdictions for the administration of international private wealth. Although a Crown Dependency and represented internationally by the UK Government, it is autonomous and has its own Parliament and its own tax regime. The island uses the British pound but also issues its own banknotes.

    Guernsey’s finance industry benefits from a firm foundation of … more

  • IN378 - Why Use Private Trust Companies and Private Trust Foundations?

    A trust is created when an individual (the settlor) transfers ownership of certain assets to another individual or corporation (the trustee) who controls and manages those assets and uses them for the benefit of a specified individual or group of individuals (the beneficiaries).

    Common Dilemmas Faced by Settlors and Trustees

    Settlors

    Many high net worth individuals, when acting as settlors, … more

  • IN366 - Why are Security Trustee Arrangements Increasingly Popular and Why Choose Dixcart?

    Alternative project finance has become increasingly popular since the financial crisis of 2008. Businesses continue to diversify their funding arrangements by considering alternative finance structures. These structures can take a number of different forms, with the most common being equity and debt based alternative investments.   

    How Can Dixcart Assist with the Organisation of these … more

  • IN325 - An Explanation of the Unique Features of Guernsey Limited Liability Partnerships

    The Limited Liability Partnerships (Guernsey) Law 2013 came into effect in May 2014 and expands the range of Guernsey structures available for professionals to provide solutions to their clients. 

    Key Characteristics of a Guernsey Limited Liability Partnership

    A Guernsey LLP is a body corporate with unlimited capacity and its own legal personality, separate from that of its members. This is a … more

  • IN302 - The Advantages Offered by the New Guernsey Aircraft Register

    Guernsey's aviation registry - 2-REG was officially launched on 9th December 2013. Four aircraft have already been registered, each carrying the registry’s unique registration mark '2-' followed by four letters.

    The global private jet market has in recent years seen huge growth in new markets, such as Brazil and China whilst the G-Reg (UK) and the N-Reg (USA) are still among the world’s most … more