As a result, the PIF Rules have now been amended and shall apply with immediate effect.

Under the revised PIF Rules, there are three available routes to registration of a PIF:


The approach that was provided under the old PIF Rules will be retained. This route requires the creation of a Protection of Investors Law licensed manager in additional to the PIF.

The two new routes to registering PIF:


Under this route, all investors will have to meet qualifying investor criteria which are designed to protect more vulnerable investors. At the time of application, the fund administrator (i.e. designated manager) will be required to provide confirmations equivalent to those currently provided by a fund administrator in respect of any Qualified Investor Fund application; and


This route enables a PIF to be created as a bespoke private wealth structure; however, it requires a family relationship between investors. Again, at the time of application the fund administrator will need to provide a confirmation that effective procedures are in place to ensure that the PIF is restricted to only eligible family-related investors.

Although the new PIF Rules new approaches open up some options in new PIF applications, all currently registered PIFs will however continue to be registered under the current/first approach in place and this approach will remain available to those wishing to raise money from broader categories of investor.

For more information on our expertise and any updates related to private investment funds in the Bailiwick of Guernsey please do not hesitate to get in touch with Chet Pohl and Oratile Jonas.

Key Contacts

Jeremy Berchem

Office Managing Group Partner*: Guernsey

T +44 (0)1481 755 601
E Email Jeremy

Stuart Tyler

Partner: Guernsey

T +44 (0)1481 755 606
E Email Stuart

Anthony Williams

Partner: Guernsey

T +44 (0)1481 755 622
E Email Anthony

Oratile Jonas

Associate*: Guernsey

T +44 (0)1481 755 604
E Email Oratile

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