Guernsey
Banking services in Guernsey
Guernsey is an international finance centre (IFC) with over 50 years strong experience providing wealth management services and is a leading destination for alternative investment funds.
Similar to its neighbour, Jersey, Guernsey has strong ties to the UK and London, helping to strengthen its position as a key financial hub. Guernsey is a prime offshore location for institutional investors, fund managers and financial services businesses due to its ability service the banking needs of such entities and favourable tax rulings in the island.
Trustees and law firms need expert international banking providers with extensive experience and strong relationships with the major banks to offer their clients a seamless solution when it comes to their Guernsey banking requirements.
Doing Business in Guernsey: the benefits
Having enjoyed over 800 years of constitutional autonomy, Guernsey is independent from the UK and the EU. Despite this, Guernsey maintains strong relations with both. Arguably, the island even has a proven, faster route into the UK and the EU via private placement.
Guernsey is also a member of several leading international sustainable finance organisations, highlighting its commitment to strategic action on sustainable finance. The island holds high standard of service, lower regulatory costs and is a secure and stable jurisdiction of substance.
Guernsey can also enable greater returns as it creates economic efficiency through tax neutrality. Since 1990, the island has shown commitment to the OECD, adopting early on the OECD’s Common Reporting Standards (CRS) and playing its part in preventing tax evasion.
The Guernsey Financial Services Commission (GFSC) is the regulatory body in the island, overseeing anti-money laundering and counter finance terrorism. They also manage the island’s regulation, development and supervision of financial services.
Offshore Banking in Guernsey
Guernsey hosts a strong banking sector with over 20 licensed banks operating in the island. These banks offer a wide range of banking services serving corporate and institutional clients either living in Guernsey or international clients.
In addition, opening an offshore bank account in Guernsey can be a suitable option for high-net-worth individuals, non-residents, asset managers, trusts and foundations as well as institutional investors. With this is in mind, Guernsey continues to be a popular offshore banking destination for private banking, wealth management and investment management.
Opening bank accounts in Guernsey can be a relatively easy process however, having strong relationships with the key international banks will be advantageous to making the process as seamless as possible.
ikyc can assist with expert international banking solutions in Guernsey
Established since 2012, we assist regulated CSPs, trustees and professional advisors with their international banking requirements. With a network over 30 international and offshore banks, we’re experts when it comes to helping businesses open bank accounts promptly.
Whether you’re a trust company looking to open a bank account in Guernsey, or a law firm advising international ultra-high net worth clients, we can help minimise non-chargeable hours spent on establishing new bank accounts.
ikyc international banking services:
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Banking solutions for regulated trustees, family offices and professional advisors (e.g. law firms)
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Quick and efficient set up of international bank accounts
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Treasury risk management
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Designated banking and cash management
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Multi-currency offshore and onshore bank accounts
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Currency hedging
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Real estate financing and real estate lending options
Get in touch with us today to learn more about how we can support you with your international banking requirements in Guernsey.