Charitable Trusts
Achieves:
An ideal vehicle for making long term donations to charity or for charitable purposes.
Requires:
An initial trust fund and a clear idea of the charitable area that is to benefit.
How it works:
Charitable trusts in Guernsey have been recognised since almost the inception of trust law. The main advantage for making Guernsey the jurisdiction of choice when it comes to these types of trust is that trust companies have been administering such trusts for over 30 years and therefore the administrative function has been thoroughly tried and tested. The establishment of a charitable trust is very similar to that of a discretionary trust the main exception being that the purpose must be clearly stated as being purely for the benefit of charitable causes. This statement can be refined to suit the intentions of the settlor so for example the purpose of the trust could be to benefit and advance scientific research into the treatment and prevention of cancer.
Although there is no register for charities in Guernsey it is possible to arrange for registration through the UK charities commission if so required.