Carey Olsen has registered the first migration of a foundation from another jurisdiction to Guernsey with the Guernsey Registry.
Lloyd’s Trust Company (Channel Islands) made the decision to move a Liechtenstein-based foundation to Guernsey following the introduction of foundations legislation into Guernsey law last year.
Carey Olsen prepared the migration application for submission to the Registry and advised Lloyds on the foundation's new charter and the rules that needed to be adopted to comply with the Foundations (Guernsey) Law, 2012, as well as the legal and regulatory aspects of their appointment as a foundation official and the provision of foundation services.