Guernsey: Registration Of Guernsey Foundations Off To Quick Start
Last Updated: 15 January 2013

Three foundations were registered upon the opening of the Guernsey Foundations Registry at 00.01am on Wednesday 9 January.

This included the Ogier Active Foundation, which has been established by Ogier to fund sports and social events for staff. Every year, a number of events are organised by Ogier's in-house sports and social committee, many of which involve fundraising elements. Any funds that are raised are donated to Ogier's Charity of the Year (elected by the staff of Ogier each year), based in Guernsey. The staff of Ogier have been extremely generous raising over £55,000 in the last few years and are already organising a number of great events for 2013. Funds raised this year are due to benefit. The Guernsey Women's Refuge, which is the charity Ogier staff nominated for 2013. .

Managing Partner William Simpson said: "We are very excited to have registered one of the first Guernsey foundations under the Foundations (Guernsey) Law, 2012. The Law represents an exciting new development in Guernsey's private wealth and estate planning services and we anticipate that foundations will be of interest to existing as well as new clients, particularly those in 'emerging markets.'"

The other foundations registered at 00.001am on Wendesday 9 January were The Male Uprising in Guernsey Charitable Foundation (MUG) and The Adyton Foundation. The Guernsey Foundations Registry has also now received an application for a fourth foundation - The Falcon Foundation.

MUG, which was registered as Guernsey's first foundation, is a local charity set up to raise awareness of male cancer in the Bailiwick of Guernsey. Appleby Managing Partner Gavin Ferguson, who is also a founder of MUG, said: "We are pleased to be involved in this landmark transaction for Guernsey and to be at the forefront of Guernsey's state of the art Foundations Law. The Law is likely to be of considerable interest to a wide variety of clients, in particular for those from civil law countries less familiar with trusts."

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