Guernsey has a significant finance industry which creates a large amount of work for Advocates.
Company / Commercial / Financial Services
Guernsey has a significant finance industry which creates a large amount of varied corporate work for Advocates.
The principal sectors within the finance industry are:
- Investment funds;
- Fiduciary services (which principally involves the management of trusts and other entities);
- Banking; and
- Insurance (particularly captive insurance).
Each of these sectors requires legal advice from Advocates including all matters relating to regulation, finance, corporate, commercial, structuring and banking matters. A large number of Advocates practicing in Guernsey only do financial services related work. Many specialise on one sector alone within those listed above. For example, some Advocates only advise on the establishment and running of investment funds, whilst others only advise fiduciary services providers on the establishment and running of trusts and other entities used for wealth management.
As well as advising on these specialist areas, some Advocates advise in relation to general non financial services company and commercial matters, which includes setting up companies and businesses and advising on their sale and purchase.