Guernsey PCC for AMC Issuance

A Guernsey Protected Cell Company is a single legal entity divided into cells. Each cell has its own assets and liabilities and, by statute, creditors of one cell cannot access the assets of another cell or of the core. The core provides governance, service-provider contracts and the shared programme documentation; each new AMC launches as a new cell with its own issuance-specific terms and conditions.

This gives managers per-product bankruptcy remoteness without the cost of incorporating a full new company for each launch. The GFSC framework is well understood by professional and sophisticated investors globally and by the private banks and custodians they use.

Cells are typically launched under a master programme, keeping incremental documentation lean. Where visibility on a listing is required, the International Stock Exchange (TISE) is the default venue, with London Stock Exchange available as an alternative.

Guernsey is well suited to wealth managers, external asset managers and family offices serving professional or sophisticated investors outside the EU passporting perimeter. Typical strategies include private equity access wrappers, thematic AMCs, and short-to-medium-tenor structured products where speed to launch and cost per cell matter.

Guernsey-issued certificates are not EU-passported. Managers whose investor base is primarily EU professional or institutional should look at Luxembourg securitisation vehicles. Managers with global, master-feeder or fund-of-fund distribution often prefer Cayman SPCs. Managers focused on Swiss private banking distribution should consider Swiss ISIN issuance. No regulatory minimum AUM applies; approximately CHF 5–10m is a working recommendation.