Carey Olsen fiduciary partner Russell Clark (pictured) said: “The approval of the Foundations (Guernsey) Law, 2012 by the States of Deliberation is a very welcome step. Subject to approval of the Privy Council, Guernsey will have added another string to its bow allowing the island to compete with other jurisdictions that offer foundations. “For those clients who are looking for a foundation solution Guernsey offers an excellent reputation, sound regulation and a reliable and knowledgeable judicial and professional infrastructure. For providers of foundation administration services it is expected that they will be able to more easily access markets where the trust is not readily understood.”
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