The Guernsey Financial Services Commission has announced a more streamlined Private Investment Fund (PIF) regime that consolidates the previous routes one and two into a single route, while keeping the Family PIF as a separate option for family wealth structures. The revised regime expands the ways an investor can qualify as a private investor, including through “licensee warranted investors”, removes the compulsory audit requirement, and lifts the upper limit on the number of qualifying private investors. It also removes any limit on the number of offers that may be made, provided offers are made on a private basis to qualifying investors, while maintaining the PIF as a regulated product with a corporate governance focus, including conflict-of-interest management. Applications continue to target regulatory approval in as little as 24 hours and are supported by a new Applications and Authorisations Portal designed to facilitate online collaboration before submission and communication with the Commission after submission.
Guernsey Financial Services Commission 2025-05-19
Guernsey Financial Services Commission streamlines Private Investment Fund regime by merging routes and removing audit and investor caps
The Guernsey Financial Services Commission has streamlined the Private Investment Fund (PIF) regime by consolidating previous routes into a single route, while maintaining the Family PIF separately. The revised regime broadens investor qualification criteria, removes the audit requirement, and lifts the cap on qualifying private investors and offers, provided they are private. The PIF remains regulated with a focus on corporate governance, and applications can be processed within 24 hours via a new online portal.