The popularity of Guernsey private trustee structures (whether Private Trust Companies ("PTCs") or Private Trustee Foundations("PTFs")) has continued during 2020 – perhaps accelerated by the pandemic.
Angela Calnan, Group Partner in Collas Crill's International Private Client & Trust ("IPCT") Team will walk us through a recent practical example of a Guernsey PTC that she has established for a Saudi family with a Guernsey trustee and a recent practical example of a Guernsey PTF for a domestic Guernsey family, again, administered by a Guernsey trustee.
Angela will touch on:
- The rationale for establishing the structures;
- the documentation required;
- interesting governance aspects that are arising in these live examples;
- when an exemption is required from the commission and how and when to apply for it;
- the mechanics for getting the structures live in practice; and
- the ongoing governance aspects.
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