Guernsey: Guernsey – For Corporate And Private Clients From India

Last Updated: 8 February 2011
Article by Peter Niven

Most Read Contributor in Guernsey, September 2018

Originally published in Corporate INTL, January 2011

As I write this article on the cusp of moving from one year to another it is an appropriate time to look back at the past 12 months and also into the crystal ball for what might lie in store during 2011. What I can clearly see is that Guernsey is well positioned to increase our supply of financial products and services to both corporate and private clients from India.

Corporate services

Guernsey is already recognised by a significant number of Indian institutions and their advisers as a leading provider of corporate services, including structuring and incorporation, investment fund administration and exchange listings. London Stock Exchange (LSE) data shows that – of those Indian entities on its Alternative Investment Market (AIM) at the end of October 2010 – the latest five to list have all been established in Guernsey, including all three added during the year. We can see that these entities operating principally in India and incorporated in Guernsey are, in the main, sizeable companies and also spread across a broad range of sectors including private equity, transportation, energy and film.

In addition, more general LSE statistics to the end of September 2010 also show that there are more Guernsey-incorporated companies on each of the UK main market, AIM and the Specialist Fund Market (SFM) than any competitor jurisdiction. Indeed, a significant attraction of using Guernsey is the ability to establish vehicles which can then be listed on these exchanges or Euronext, as well as the local Channel Islands Stock Exchange (CISX). This provides promoters with a menu of options which can be utilised as they best see fit. For example, some promoters want the comfort of using a recognised exchange such as the CISX while at the same time having access to the investment pool and liquidity provided by a London capital market such as AIM. Establishing vehicles through Guernsey allows for either to be accessed independently or both to be used as part of one overall structure.

Guernsey also offers significant potential as a leading centre for investment funds. The total value of funds under management and administration was 34% year on year to reach more than £243 billion at the end of September 2010. Our business includes alternatives such as property and substantial proportion of private equity/venture capital. The general characteristics of this latter asset class, including the fact that it will be held for a significant time period before being realised, make it similar to infrastructure funds where there is notable demand for investment into India.

Building relationships

During October 2010 we held our first official delegation to India, led by Carla McNulty Bauer, Minister for the Commerce and Employment Department within the Guernsey Government. We had a series of meetings across both Delhi and Mumbai with some very senior government, regulatory and business officials as well as a number of industry practitioners. In addition, we hosted our own specific Guernsey event in Mumbai which proved to be an extremely popular networking opportunity.

We were able to inform our hosts about Guernsey but also learn from them about how we can do business together in the future. There appear to be plenty of opportunities and not just in corporate services but also the wealth management arena where we can capitalise on our experience in providing fiduciary services for high net worth individuals. Guernsey can meet the needs of private clients, no matter whether resident or non-resident Indians, who are trying manage their wealth and assets for the benefit of future generations in an increasingly globalised world. The Island has more than 150 licensed fiduciary providers ranging from independent, boutique operations to large multinational organisations, who together hold more than £300 billion of client assets in trust and company structures. The breadth and depth of our finance industry means we also have private banks, asset managers and the full range of tax and legal advisers to offer Family Office services.

Why Guernsey?

A study by The Banker magazine published in September 2010 ranked Guernsey number four in a list the world's specialised finance centres. In the same month, the eighth Global Financial Centres Index (GFCI) also ranked Guernsey very much within the top tier of 'offshore' finance centres.

Guernsey has 50 years experience as an international finance centre which means that we are tried and tested, have developed significant infrastructure and accumulated a wealth of expertise across a broad range of products and services. We are also dynamic and forward-thinking, as demonstrated by the launch of our own regional stock exchange, the CISX, and our innovation of the cell company concept.

The Guernsey Financial Services Commission (GFSC) has built a reputation for robust yet pragmatic regulation, an approach that encourages flexibility and creativity while ensuring agencies such as the IMF are able to declare that the Island is working to international standards. The Guernsey Government also continues to ensure we adopt international standards of tax transparency, as exemplified by the fact that the Island was within the first wave of territories placed on the OECD/G20 'white list'.

In addition, Guernsey has already begun talks on signing a Tax Information Exchange Agreement (TIEA) with India. While Guernsey does not have a Double Taxation Agreement (DTA) with India, we do have a corporate tax regime with a standard 0% rate for all companies. This is under review but our government has made a commitment that investment funds will remain exempt and the regime as whole will be sustainable and competitive.

So, as you can see, there are plenty of reasons to believe that Guernsey is well positioned to increase our provision of financial products and services to both corporate and private clients from India during 2011.


  • Situated in Europe between the United Kingdom (UK) and France.
  • A British Crown Dependency
  • A special relationship with the European Union (EU)
  • English speaking
  • Currency: British pound Sterling (GBP)
  • Same time zone as the UK
  • Direct links to both London and Europe

For more information about Guernsey's finance industry please visit

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

In association with
Related Topics
Related Articles
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Registration (you must scroll down to set your data preferences)

Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice):

  • To allow you to personalize the Mondaq websites you are visiting to show content ("Content") relevant to your interests.
  • To enable features such as password reminder, news alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our content providers ("Contributors") who contribute Content for free for your use.

Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below.

Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of

To Use you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.


The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.


Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions