Find out how Aspida can help you with the recent changes brought in by the introduction of the Lending Credit & Finance (Bailiwick of Guernsey) Law, 2022. Our Compliance Associate Eve Bott provides us with an overview on the consultation paper.
New Fast Track Application Regime for Managers of Overseas Collective Investment Schemes
The GFSC have just published details of a new fast track regime specifically for managers of overseas collective schemes. The intention of the regime is to combine where appropriate the consent to migrate the manager into the Bailiwick with the licensing process within a 10 day review period or alternatively the licensing of a newly incorporated Guernsey entity also within 10 days.
According to William Mason, Director General of the GFSC, “We have been informed that some managers with already established good quality funds may wish to redomicile to the Bailiwick to take advantage of its skilled investment professionals, its fiscal and legal stability and its highly rated systems for combating financial crime. We hope that these managers will find the fast track we are launching today helpful.”
Aspida Group has a long track record of incubating managers, providing the skilled professionals and operating framework that William refers to above. We give these companies the substance they need to properly be domiciled in the Guernsey.
Coincidentally, we recently gave a podcast on why Guernsey is the perfect place to be for companies such as these.