Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the trust establishment, including banking and payment rails.
Set up a trust in Guernsey.
The Crown Dependency with a published clock: trusts administered by holders of a full fiduciary licence under the Regulation of Fiduciaries, Administration Businesses and Company Directors (Bailiwick of Guernsey) Law 2020 - where the GFSC targets 56 calendar days for a complete primary licence application and publishes guidance on private trust companies.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Guernsey in brief
A top-tier fiduciary jurisdiction that states its own timetable.
Guernsey regulates the business of being a trustee under the Regulation of Fiduciaries, Administration Businesses and Company Directors (Bailiwick of Guernsey) Law 2020, and the GFSC does something unusual with it: it publishes what it expects and how long it will take. A full fiduciary licence application must satisfy the minimum licensing criteria in Schedule 1 of the Law, demonstrate adequate resources in personnel, policies, procedures, premises and systems, evidence receipt of capital meeting the financial resources requirement for the licence category, and submit personal questionnaires for every beneficial owner, controller, director, secretary, compliance officer and money laundering reporting officer. The Commission targets 56 calendar days for a complete primary licence application and 28 for a secondary - with applications left unanswered beyond three months liable to be archived.
For a family, that regulatory rigour is the product. A Guernsey trust is administered by a licensed fiduciary operating under the Fiduciary Rules and Guidance, in a jurisdiction whose trust industry is generations old and whose courts understand the instrument. The GFSC also publishes dedicated guidance on private trust companies, which matters for families large enough to want their own trustee vehicle. Guernsey sits alongside Jersey at the top of the fiduciary market - same standard, same cost level, slightly different institutional character. We design the structure, select the fiduciary and, where the family needs its own trustee company, build that too.
A top-tier fiduciary centre with a published clock: trustees hold a licence under the Fiduciaries Law 2020, meeting Schedule 1 criteria, demonstrating adequate resources and evidencing capital receipt for the licence category.
The GFSC targets 56 calendar days for a complete primary application and 28 for a secondary, and publishes dedicated private trust company guidance. Institutional standard, institutional pricing.
The two builds
The trust with a licensed fiduciary - or the family's own trustee.
Most families appoint a licensed fiduciary. Larger ones build a private trust company under the GFSC's published guidance. We advise on which and build either.
The trust with a licensed fiduciary - or a private trust company.
01 - GUERNSEY TRUST
The core structure
A trust administered by the holder of a full fiduciary licence. Adequate resources, vetted controllers and conduct governed by the Fiduciary Rules and Guidance 2020.
A trust administered by the holder of a full fiduciary licence. Adequate resources, vetted controllers and conduct governed by the Fiduciary Rules and Guidance 2020.
- ✓Trust established by deed
- ✓Licensed fiduciary as trustee
- ✓Schedule 1 licensing criteria
- ✓Fiduciary Rules and Guidance apply
- ✓Personal questionnaires for controllers
- ✓Ongoing GFSC supervision
02 - PRIVATE TRUST COMPANY
The family's own trustee
A dedicated trustee company for the family's trusts, structured against the GFSC's published private trust company guidance and administered by a licensed provider.
A family trustee vehicle structured against the GFSC's published PTC guidance and administered by a licensee. Continuity across generations.
- ✓Family trustee vehicle
- ✓GFSC guidance on PTCs applied
- ✓Administered by a licensee
- ✓Board of family and advisers
- ✓Continuity across generations
- ✓Regulatory position confirmed at set-up
Capital and financial resources requirements attach to the licence category and are evidenced with documentary proof of receipt. Fees follow the GFSC schedule.
Why Guernsey
Six reasons families choose Guernsey.
✓
A published decision clock
56 calendar days targeted for a complete primary licence application, 28 for a secondary. A regulator that commits to its own timetable.56 days, 28 secondary.
✓
Criteria written down
Schedule 1 of the 2020 Law sets the minimum licensing criteria explicitly. The file is engineered against text.Schedule 1 explicit.
✓
Private trust company guidance
The GFSC publishes dedicated PTC guidance, so families wanting their own trustee vehicle are not working from inference.Published, not inferred.
✓
Generational fiduciary industry
Trust administration in Guernsey is measured in generations, with professionals whose entire careers are private client work.Careers in private client.
✓
Personal accountability
Controllers, directors, compliance officers and MLROs are individually vetted. The people are approved, not just the firm.Not just the firm.
✓
Crown Dependency standing
Banks, custodians and courts treat Guernsey structures as top-tier - no explanation required anywhere.No explanation needed.
How it compares
How Guernsey differs from other trust jurisdictions.
The comparison, side by side: Jersey's peer, with a more explicitly published process, and the same institutional pricing.
Guernsey vs other trust jurisdictions
| Feature |  Guernsey | Other jurisdictions |
|---|---|---|
| Trustee law | Fiduciaries Law 2020 | 1998 Jersey law, ASP regimes |
| Decision target | 56 days primary licence | Rarely published |
| PTC framework | Published GFSC guidance | Case-by-case |
| Cost | Institutional | EU or Caribbean lower |
Trustee law
GuernseyFiduciaries Law 2020
Other jurisdictions1998 Jersey law, ASP regimes
Decision target
Guernsey56 days primary licence
Other jurisdictionsRarely published
PTC framework
GuernseyPublished GFSC guidance
Other jurisdictionsCase-by-case
Cost
GuernseyInstitutional
Other jurisdictionsEU or Caribbean lower
Country by country
| Country | Instrument | Trustee regulation | Notes |
|---|---|---|---|
| Guernsey | Guernsey trust | GFSC fiduciary licence | 56-day licence decision |
 Jersey | Jersey trust - 1984 Law | JFSC trust company business | The benchmark |
 Cyprus | International trust | CySEC-regulated ASPs | EU member state |
 BVI | VISTA trust - 2003 Act | Licensed BVI trustee | Holds BVI company shares |
GuernseyInstrumentGuernsey trust
Trustee regulationGFSC fiduciary licence
Notes56-day licence decision
JerseyInstrumentJersey trust - 1984 Law
Trustee regulationJFSC trust company business
NotesThe benchmark
CyprusInstrumentInternational trust
Trustee regulationCySEC-regulated ASPs
NotesEU member state
BVIInstrumentVISTA trust - 2003 Act
Trustee regulationLicensed BVI trustee
NotesHolds BVI company shares
Before you establish
What a Guernsey structure actually requires.What establishment requires.
For the trust, a deed and a licensed trustee. For a fiduciary licence, the Law's own criteria. The checklist covers both.
01
Trust deed. Drafted to the family's succession intention under Guernsey trust law.
02
Licensed trustee. A holder of a full fiduciary licence, selected on fit rather than fee alone.
03
Schedule 1 criteria. Where a licence is being sought, the minimum licensing criteria satisfied in full.
04
Adequate resources. Personnel, policies, procedures, premises and systems demonstrated to the Commission.
05
Capital evidence. Documentary proof of receipt meeting the financial resources requirement for the category.
06
Personal questionnaires. For beneficial owners, controllers, partners, directors, secretaries, compliance officers and MLROs.
07
Trust-owned applicants. Where ownership sits in a trust, trustee undertakings preventing changes without Commission approval.
08
Source of wealth. Documented to Crown Dependency standard.
09
Underlying structures. Holding companies and asset entities designed with the trust.
10
Banking and custody. Arranged with institutions that work with Guernsey structures routinely.
11
Tax analysis. Settlor, trust and beneficiaries modelled in every relevant residence.
01
Deed to succession intent.
02
Licensed fiduciary trustee.
03
Schedule 1 criteria met.
04
Adequate resources shown.
05
Capital receipt evidenced.
06
Personal questionnaires filed.
07
Trust-owner undertakings.
08
Source of wealth documented.
09
Underlying entities designed.
10
Banking arranged.
11
Tax modelled everywhere.
Reflects the Regulation of Fiduciaries Law 2020, the Fiduciary Rules and Guidance 2020 and the GFSC's published PTC guidance as of 2026.Fiduciaries Law 2020 + Rules and Guidance, 2026.
How it works
From first call to a working Guernsey structure.
01
Intention and map
Family, assets, residences and objectives. With a frank view of whether Crown Dependency cost is justified.Cost assessed cold.
02
Fiduciary or PTC
A licensed fiduciary appointed, or the family's own trustee company designed against GFSC guidance.Route chosen.
03
Drafting and documentation
Deed, letter of wishes and. Where a licence is sought. The Schedule 1 application pack.Deed and pack.
04
Establishment or licensing
Trust settled and assets transferred; any licence application filed complete against the 56-day target.Filed complete.
05
Administration
Administration run under the Fiduciary Rules. The structure maintained across generations.Across generations.
Quick facts
RegulatorGFSC
LawFiduciaries Law 2020
LicenceFull fiduciary
CriteriaSchedule 1
Primary decision56 calendar days
Secondary decision28 calendar days
Stale applicationsArchived after 3 months
FeesApplication + annual, pro-rated
The 56-day target runs from a complete application. Incomplete files generate clarification requests, and silence beyond three months risks archival.
On the ground in Guernsey
Run from our St Peter Port desk.
Prifinance - Guernsey
St Peter Port · Guernsey
St Peter Port, Guernsey
01
Structure design
Whether Guernsey is justified for this family, and what should sit beneath the trust.Is Guernsey justified?
02
Fiduciary selection
Licensed fiduciaries approached and compared. Capability, fit and fees, not a single referral.Compared properly.
03
Licence applications
Where a PTC or fiduciary licence is needed, the file built to Schedule 1 and the 56-day target.Built to 56 days.
04
Establishment and banking
Deed, underlying entities and accounts arranged as one package.One package.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of Guernsey trusts.
A straightforward local position. With the decisive analysis wherever the family is resident.
Guernsey's own treatment
Guernsey does not tax non-resident beneficiaries on non-Guernsey source trust income. Confirmed per structure.Straightforward.
Residence drives the outcome
Settlor and beneficiary residence determines the real position far more than the trust's jurisdiction does.Where families live.
Anti-avoidance abroad
Home-country attribution and charging rules shape the design from the first draft, not after the first return.In the design.
Reporting applies
Automatic exchange of information covers Guernsey structures. They are built to be reported correctly.Exchange applies.
Corporate layer
Underlying companies carry their own substance and residence questions. Designed alongside the trust.Substance planned.
Modelled before signing
Advisers in each relevant residence are involved before the deed is executed.Advisers early.
Tax summary
Guernsey positionConfirmed per structure
Decisive factorSettlor and beneficiary residence
Anti-avoidanceAddressed in design
ReportingAutomatic exchange applies
Planning levelEvery relevant country
*Position as of 2026. Cross-border outcomes are modelled with advisers in each relevant residence before establishment.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Guernsey structure, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a working trust.
Follow Prifinance
Active across our channels.
Guernsey · GFSC
Set up your Guernsey trust with expert support.
Full-service assistance - from structure design and fiduciary selection to drafting, licensing and administration - run through our Guernsey desk.
Get a consultation →Free legal opinion
Is a Guernsey trust right for your family?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, structure, or route fits your situation.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Guernsey trust - what clients ask.
Who can act as trustee in Guernsey?+
Holders of a fiduciary licence under the Regulation of Fiduciaries, Administration Businesses and Company Directors (Bailiwick of Guernsey) Law 2020. Acting as a professional trustee without one is not permitted.
What does a full fiduciary licence require?+
Satisfying the minimum licensing criteria in Schedule 1 of the 2020 Law, demonstrating adequate resources in personnel, policies, procedures, premises and systems, documentary proof of capital meeting the financial resources requirement for the category, and personal questionnaires for all controllers, directors, compliance officers and MLROs.
How long does licensing take?+
The GFSC targets 56 calendar days for a complete primary licence application and 28 for a secondary licence. Incomplete applications trigger clarification requests, and files left unanswered beyond three months may be archived.
What is a private trust company here?+
A family-owned trustee vehicle for the family's trusts. The GFSC publishes dedicated guidance on private trust companies, so the regulatory position can be established from published text rather than inference.
Guernsey or Jersey?+
Peers. Both are top-tier Crown Dependency fiduciary centres at similar cost. Guernsey publishes its licensing criteria and decision targets more explicitly; Jersey has the reference trust statute and the deepest case law. Trustee fit usually decides - we approach both.
Is the trust itself registered?+
The trust is created by deed rather than licensed. Regulation attaches to the trustee, and beneficial ownership and exchange-of-information obligations apply to the structure.
What if ownership of the licensee sits in a trust?+
The Commission expects trustee undertakings - preferably from a Guernsey-licensed fiduciary - that beneficiaries will not be changed and shares not transferred without its approval. It is a detail that derails applications when missed.
How are Guernsey trusts taxed?+
Guernsey's own treatment is straightforward and confirmed per structure; settlor and beneficiary residence determines the real outcome. Automatic exchange of information applies and the structure is built to report correctly.
How long does establishing a trust take?+
Weeks once source-of-wealth documentation is ready - licensed fiduciaries will not accept business they cannot verify, so that preparation sets the timeline.
Why Prifinance for Guernsey?+
Fiduciary selection run as a comparison, licence files built to Schedule 1 and the published decision target, and the trust-ownership undertaking detail handled before it becomes a delay.
Who can be trustee?+
Fiduciary licence holders.
Licence needs?+
Schedule 1 + resources.
How long?+
56 days primary target.
PTC?+
Published guidance exists.
Or Jersey?+
Peers - fit decides.
Trust registered?+
Trustee is regulated.
Trust-owned licensee?+
Undertakings required.
Taxes?+
Residence decides.
Establishment time?+
Weeks once documented.
Why you?+
Built to the published target.
Client notes
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Founders who wanted it done right.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of GFSC or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.