Guernsey: Guernsey – For Corporate And Private Clients From India

Last Updated: 8 February 2011
Article by Peter Niven

Most Read Contributor in Guernsey, September 2016

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
Mondaq Advice Centre (MACs)
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
Check to state you have read and
agree to our Terms and Conditions

Terms & Conditions and Privacy Statement (the Website) is owned and managed by Mondaq Ltd and as a user you are granted a non-exclusive, revocable license to access the Website under its terms and conditions of use. Your use of the Website constitutes your agreement to the following terms and conditions of use. Mondaq Ltd may terminate your use of the Website if you are in breach of these terms and conditions or if Mondaq Ltd decides to terminate your license of use for whatever reason.

Use of

You may use the Website but are required to register as a user if you wish to read the full text of the content and articles available (the Content). 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 & conditions or with the prior written consent of Mondaq Ltd. You may not use electronic or other means to extract details or information about’s content, users or contributors in order to offer them any services or products which compete directly or indirectly with Mondaq Ltd’s services and products.


Mondaq Ltd and/or its respective suppliers make no representations about the suitability of the information contained in the documents and related graphics published on this server for any purpose. All such documents and related graphics are provided "as is" without warranty of any kind. Mondaq Ltd and/or its respective suppliers hereby disclaim all warranties and conditions with regard to this information, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Mondaq Ltd 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 or performance of information available from this server.

The documents and related graphics published on this server could include technical inaccuracies or typographical errors. Changes are periodically added to the information herein. Mondaq Ltd and/or its respective suppliers may make improvements and/or changes in the product(s) and/or the program(s) described herein at any time.


Mondaq Ltd requires you to register and provide information that personally identifies you, including what sort of information you are interested in, for three primary purposes:

  • To allow you to personalize the Mondaq websites you are visiting.
  • To enable features such as password reminder, newsletter alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our information providers who provide information free for your use.

Mondaq (and its affiliate sites) do not sell or provide your details to third parties other than information providers. The reason we provide our information providers with this information is so that they can measure the response their articles are receiving and provide you with information about their products and services.

If you do not want us to provide your name and email address you may opt out by clicking here .

If you do not wish to receive any future announcements of products and services offered by Mondaq by clicking here .

Information Collection and Use

We require site users to register with Mondaq (and its affiliate sites) to view the free information on the site. We also collect information from our users at several different points on the websites: this is so that we can customise the sites according to individual usage, provide 'session-aware' functionality, and ensure that content is acquired and developed appropriately. This gives us an overall picture of our user profiles, which in turn shows to our Editorial Contributors the type of person they are reaching by posting articles on Mondaq (and its affiliate sites) – meaning more free content for registered users.

We are only able to provide the material on the Mondaq (and its affiliate sites) site free to site visitors because we can pass on information about the pages that users are viewing and the personal information users provide to us (e.g. email addresses) to reputable contributing firms such as law firms who author those pages. We do not sell or rent information to anyone else other than the authors of those pages, who may change from time to time. Should you wish us not to disclose your details to any of these parties, please tick the box above or tick the box marked "Opt out of Registration Information Disclosure" on the Your Profile page. We and our author organisations may only contact you via email or other means if you allow us to do so. Users can opt out of contact when they register on the site, or send an email to with “no disclosure” in the subject heading

Mondaq News Alerts

In order to receive Mondaq News Alerts, users have to complete a separate registration form. This is a personalised service where users choose regions and topics of interest and we send it only to those users who have requested it. Users can stop receiving these Alerts by going to the Mondaq News Alerts page and deselecting all interest areas. In the same way users can amend their personal preferences to add or remove subject areas.


A cookie is a small text file written to a user’s hard drive that contains an identifying user number. The cookies do not contain any personal information about users. We use the cookie so users do not have to log in every time they use the service and the cookie will automatically expire if you do not visit the Mondaq website (or its affiliate sites) for 12 months. We also use the cookie to personalise a user's experience of the site (for example to show information specific to a user's region). As the Mondaq sites are fully personalised and cookies are essential to its core technology the site will function unpredictably with browsers that do not support cookies - or where cookies are disabled (in these circumstances we advise you to attempt to locate the information you require elsewhere on the web). However if you are concerned about the presence of a Mondaq cookie on your machine you can also choose to expire the cookie immediately (remove it) by selecting the 'Log Off' menu option as the last thing you do when you use the site.

Some of our business partners may use cookies on our site (for example, advertisers). However, we have no access to or control over these cookies and we are not aware of any at present that do so.

Log Files

We use IP addresses to analyse trends, administer the site, track movement, and gather broad demographic information for aggregate use. IP addresses are not linked to personally identifiable information.


This web site contains links to other sites. Please be aware that Mondaq (or its affiliate sites) are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of these third party sites. This privacy statement applies solely to information collected by this Web site.

Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.


If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.


This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at and we will use commercially reasonable efforts to determine and correct the problem promptly.