Appleby, the world’s largest provider of offshore legal services has advised on the establishment of Guernsey’s first foundation; Male Uprising Guernsey (“MUG”).
MUG, a local charity set up to raise awareness of male cancer in the Bailiwick of Guernsey and raise funds to offer support to Bailiwick men suffering from cancer, is the first foundation to be approved and launched under the long-awaited Foundations (Guernsey) Law 2012 (the “Law”) which came into force on 7 January 2013.
Gavin Ferguson, Managing Partner of Appleby in Guernsey and Associate Siena Gold advised on the establishment of the first Guernsey Foundation.
Gavin Ferguson commented: “We are pleased to be involved in this landmark transaction for Guernsey and to be at the forefront of Guernsey’s state of the art Foundations Law. The Law is likely to be of considerable interest to a wide variety of clients, in particular for those from civil law countries less familiar with trusts. It will also be of interest to those attracted to Guernsey’s G20 “white” list status and its excellent wealth management reputation, including those with existing foundations looking to migrate their foundations from less well regulated or less convenient jurisdictions.”
Gavin, also a founder of MUG continued: “As such it was important for MUG to take advantage of the publicity attached to being the first foundation registered in Guernsey. Whilst we always look to raise funds to support Guernsey men suffering from cancer and also to fund research into the prevention and treatment of male cancer, prevention is better than cure and to this extent we take any opportunity to educate men to check their health regularly.”
Appleby’s Private Client & Trusts practice is able to provide comprehensive advice on the establishment, administration and management of Guernsey foundations.
Category: Finance & Business