Guernsey vs Luxembourg vs Cayman

Guernsey vs Luxembourg vs Cayman

Guernsey vs Luxembourg vs Cayman

Guernsey is a leading specialist centre in the servicing of alternative assets such as private equity, infrastructure and alternative debt

Guernsey Funds Comparison

Guernsey Funds Comparison

Jurisdiction

Description

Guernsey Cayman Luxembourg

A self-governing jurisdiction with more than 800 years of constitutional autonomy, having split from Normandy in 1204.

Legal Framework

Political Position

Origins based in Norman-French law, with a strong emphasis on English common law due to strong influence of UK.

Secure and stable with candidates typically being elected independently (non-partisan).

An independent nationstate following the Treaty of London in 1839. A member of the UN since 1945.

A written constitution based on the Belgian Constitution and the Third Republic of France. The legal system is based on Civil Law.

A secular state organised as a representative democracy in the form of a constitutional monarchy.

Became a self-governing British Overseas Territory in 1959 with its own laws and rules.

A legal system based on English common law, locally enacted statues and Orders-in-Council.

A parliament with majority being elected members serving on four-year terms.

The Guernsey Financial Services Commission is the competent authority responsible for the supervision of all regulated fund structures in Guernsey.

The Commission de Surveillance du Secteur Financier is a public institution which supervises the professionals and products of the Luxembourg financial sector.

The Cayman Island Monetary Authority is the competent authority responsible for the authorisation and supervision of all regulated fund structures.

Petit Port, Guernsey

Guernsey vs Luxembourg vs Cayman

Undertakings for Collective Investment in Transferable Securities (Money Market Fund and Exchange Traded Funds) Alterative Investment Funds (Specialised and Reserved Investor AIF) European Long-Term Investment Funds

Guernsey

Guernsey Funds Comparison

ESG Credentials

Can elect to register as a Guernsey Green Fund.

Founding Member of United Nations’ FC4S network.

Options to list on the Sustainable segment of The International Stock Exchange.

Fees

Taxation

Application Fee - £3,500.

Additional £500 for fast track.

Annual Fee - £3,500.

Fees are the same regardless of fund structure.

Managers are subject to separate charge.

Adherence to tax neutrality, no capital gains tax.

Each management company €15,000

Minimum €3,000 (Approx. £2,400) or more depending on fund

No fees for registration

Tax exempt on income and gains for payments received from funds if fall within relevant categories.

Application fee – USD4,270 (Approx. £3,200)

Annual Fee – USD4,270 (Approx. £3,200) for majority of funds

Additional charges for various changes.

Adherence to tax neutrality, no capital gains tax.

The Pea Stacks, Guernsey

Guernsey Cayman Luxembourg

Guernsey vs Luxembourg vs Cayman

Listing Opportunities

Guernsey Cayman Luxembourg

Proven diverse options to list on The International Stock Exchange, London Stock Exchange, Euronext, NYSE and NASDAQ.

Options to list on the Luxembourg Bourse, Euronext, NYSE and NASDAQ.

Options to list on the Cayman Island Stock Exchange, Hong Kong Stock Exchange, NASDAQ and NYSE

EU Economic Substance Status

Compliance with FATF Mutual Evaluations Compliance with OECD Framework

Tax Reporting

Whitelisted (2019)

Adherence to International Standards

Placed on the Ongoing Monitoring List in 2021 Compliant

Compliant

Compliant with Moneyval and fully committed to the implementation of FATF and CFT recommendations

Adopters of FATCA/CRS

Compliant

Compliant or largely compliant with FATF and CFT recommendations

Adopters of FATCA/CRS

On the EU AML blacklist

Compliant or largely compliant with 27/40 FATF recommendations

Adopters of FATCA/CRS