Guernsey

Banking services in Guernsey

​

Guernsey is an international finance centre (IFC) with over 50 years strong experience providing wealth management services and is a leading destination for alternative investment funds.

 

Similar to its neighbour, Jersey, Guernsey has strong ties to the UK and London, helping to strengthen its position as a key financial hub. Guernsey is a prime offshore location for institutional investors, fund managers and financial services businesses due to its ability service the banking needs of such entities and favourable tax rulings in the island. Guernsey is a prominent domicile for investment funds, particularly Closed-Ended Funds and Private Equity,

 

Trustees and law firms need expert international banking providers with extensive experience and strong relationships with the major banks to offer their clients a seamless solution when it comes to their Guernsey banking requirements.

​

Doing Business in Guernsey: the benefits

​

Having enjoyed over 800 years of constitutional autonomy, Guernsey is independent from the UK and the EU. Despite this, Guernsey maintains strong relations with both. Arguably, the island even has a proven, faster route into the UK and the EU via private placement.

 

Guernsey is also a member of several leading international sustainable finance organisations, highlighting its commitment to strategic action on sustainable finance. The island holds high standard of service, lower regulatory costs and is a secure and stable jurisdiction of substance.

 

Guernsey can also enable greater returns as it creates economic efficiency through tax neutrality. Since 1990, the island has shown commitment to the OECD, adopting early on the OECD’s Common Reporting Standards (CRS) and playing its part in preventing tax evasion.

 

The Guernsey Financial Services Commission (GFSC) is the regulatory body in the island, overseeing anti-money laundering and counter finance terrorism. They also manage the island’s regulation, development and supervision of financial services.

 

Offshore Banking in Guernsey

​

Guernsey hosts a strong banking sector with over 20 licensed banks operating in the island. These banks offer a wide range of banking services serving corporate and institutional clients either living in Guernsey or international clients.

 

In addition, opening an offshore bank account in Guernsey can be a suitable option for high-net-worth individuals, non-residents, asset managers, trusts and foundations as well as institutional investors. With this is in mind, Guernsey continues to be a popular offshore banking destination for private banking, wealth management and investment management.

 

Opening bank accounts in Guernsey can be a relatively easy process however, having strong relationships with the key international banks will be advantageous to making the process as seamless as possible.

 

ikyc can assist with expert international banking solutions in Guernsey:

​

• Fiduciary & Trust Banking: We provide expert facilitation for Trustees and CSPs to open and manage segregated, multi-currency bank accounts essential for fiduciary structures and company administration. This focuses on managing cash flows for underlying trusts and corporate mandates.

• Cash Management & Liquidity: We advise UHNW Clients and Family Offices on optimizing liquidity management within the Channel Islands banking sector. This includes securing competitive terms for large cash holdings and multi-currency deposits.

• Corporate & SPV Banking: We streamline the process for International Corporates and SPVs to secure operational bank accounts. This service includes facilitating debt arrangements and real estate financing for UK and European property acquired through the Guernsey SPV structure, as well as managing accounts for general corporate transactions.

• Custody & Fund Administration: We connect Funds and Fund Managers with leading institutions for custody, depositary, and fund administration services. This ensures assets (securities, real estate, private equity holdings) are secured and administered efficiently, meeting the strict requirements for funds domiciled in Guernsey.

 

Case Study: Banking Support for a Guernsey-Based Family Office Structure

​

We were engaged by a fiduciary in Guernsey to assist with banking for a family office structure holding international real estate assets. The accounts were primarily required for operating expenses, including property maintenance and renovations.

​

The client faced challenges in securing domestic banking due to the absence of discretionary assets under management and the perceived complexity of the structure. We proposed a dual-track solution: introducing both private banks that could offer domestic capabilities based on assets or deposits, and retail banks that could support the structure without AUM, although with longer onboarding timelines.

​

This engagement demonstrated our ability to deliver practical banking solutions for complex, cross-border structures with international exposure, and to support Guernsey based fiduciaries navigating operational constraints.

Get in touch with us today to learn more about how we can support you with your international banking requirements in Guernsey.