A purpose trust is a trust created in order to fulfil a purpose rather than for the benefit of a person. Guernsey law permits purpose trusts to be established in order to fulfil non-charitable purposes rather than to benefit a person.

These trusts must be created by an instrument in writing and the terms must include the appointment of an enforcer.The enforcer has a fiduciary duty to enforce the trust and may be an individual, group of individuals or a corporate provided it is a different person from the trustee.

Heritage can assist with the creation and on-going administration of Guernsey purpose trusts which may be used in the following situations:

  • Family businesses – used by entrepreneurs to ensure the continuity of their business through generations, for example holding voting shares in a company so that the descendants do not have the ability to sell or wind up the business
  • Quasi-charitable purposes – where there is doubt as to the validity of the charitable purpose falling within the strict four recognised heads of charity
  • Special Purpose Vehicles ("SPVs") – in securitisations, to hold the shares in an ‘orphan’ SPV
  • Private trust companies – to incorporate and hold shares in a private trust company, acting as trustee for a trust or group of trusts
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Estera has acquired Heritage Financial Services Group.

Estera is a leading global provider of fiduciary and administration services. The
acquisition of Heritage Financial Services Group is central to the expansion of our funds service line and also expands jurisdictional choice for our trust and
orporate clients.

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