Discover why Guernsey rocks! Fort's Joe Woodward explores how the island is the ideal hub for private wealth management and entrepreneurial success.

If you’re reading this, you’re either flying on to or off of ‘the Rock’. Guernsey, 25-square-miles of granite 30 miles from the Normandy coast and 70 miles from the coast of England, is the second largest Channel Island (and the largest island in the Bailiwick, which also includes the islands of Alderney, Sark and Herm) and the place that 64,000 of us are lucky enough to call home.

With a safe community and enviable life/work balance, Guernsey’s attractions as a place to live are obvious. However, it’s Guernsey as a place to do business that really sets it apart. Its entrepreneurial spirit, highly qualified workforce and outward-looking approach have resulted in centuries of commercial success. Guernsey’s unique position both geographically and economically make it a premier business jurisdiction. With frequent travel links to the UK, a convenient time zone for Europe and GBP economy, Guernsey is often seen as a natural step for those looking to leave the Mainland.

As a Crown Dependency, Guernsey has been independent for over 800 years. It has its own legislature to determine laws, including taxation. Guernsey does not levy capital gains, inheritance or wealth taxes, with flat income tax of 20%. The majority of companies pay 0% corporation tax with employers paying just 7% social security.

Guernsey continues to evolve as a thriving international business centre through its willingness to explore and expand on new ideas. However, there are historic foundations to its finance industry and private wealth – specifically trust and corporate services – is at its core.

The Bailiwick’s autonomy gives it its strength in independence, something that we at Fort can certainly relate to. Fort is one of Guernsey’s largest independently-owned trust and corporate services providers. Founded in 1973 and with almost 50 staff across Guernsey and Alderney, it exemplifies the strength, stability and adaptability of the Bailiwick.

A globally recognised leader in private wealth structuring, Guernsey has a history of providing specialist services to private clients and their families. Individuals can manage their wealth, investments and philanthropic endeavours in a secure and stable environment. With decades of expertise, Guernsey is now welcoming the next generation of wealth owners and creators.

Guernsey offers a flexible trust regime, allowing protection of assets and succession planning for families. Guernsey’s Trust Law allows for trusts to be established for a variety of purposes, including charitable and centuries of case law gives clients upmost confidence in the jurisdiction.

In an ever-changing world, Guernsey structures can be utilised to ensure assets are passed to future generations in the manner intended. Trusts offer an efficient vehicle for the handover of assets without requiring a grant of probate or similar formalities. They can preserve ownership of assets such as businesses or property within a family, protecting against risk and uncertainty and legal proceedings such as divorce and litigation.

With a history of servicing clients and their families in all aspects of wealth management, Guernsey has established itself as a jurisdiction of choice. Upholding international standards, while respecting privacy, gives clients the confidence their wealth is domiciled in a jurisdiction of upmost substance and security.

We are proud of our robust regulatory environment. Guernsey has a pro-business government with pragmatic regulators and is a responsible, well-respected global citizen. It was one of the first jurisdictions to regulate trustees, requiring the licensing of fiduciaries. The Guernsey Financial Services Commission (GFSC), while robust, has a reputation for being flexible. It is renowned for its pragmatic approach and offers guaranteed turnaround times for regulatory approvals. The speed to market for structures offers a unique domicile.

Guernsey is tax neutral, taking a robust stance against tax evasion and committing to EU principles of fairness. The highly successful outcome of the Bailiwick’s recent MONEYVAL evaluation report demonstrates Guernsey’s commitment to international compliance (it was one of few jurisdictions to receive a top rating of ‘High’).

So if you’re looking for world-leading private wealth services, choose Guernsey and contact Fort to see how we can help.

We ensure we look after our clients, employees and communities. This is what has given our business 50 years of success and make us poised to be successful for the next 50 years.