Channel Islands: “Investment entity” defined for CRS purposes in Guernsey

Channel Islands: Investment entity defined in Guernsey

Guernsey issued guidance—Bulletin 2016/6—confirming that for common reporting standard (CRS) purposes, the intergovernmental agreement (IGA) definition of an “investment entity” cannot be used.

Related content

Read the definition of an “investment entity” under the CRS as provided in Bulletin 2016/6 [PDF 384 KB].  

KPMG observation

Tax professionals find that as defined, the term “investment entity” is more onerous than under the IGAs and may have a number of implications, especially for entities administered in Guernsey. 


Read an August 2016 report [PDF 160 KB] prepared by the KPMG member firm in Guernsey

The KPMG report explores some of the implications of the bulletin including: 

  • “Managed by” approach
  • Annual review
  • Different classifications for the IGA and CRS regimes
  • Pre-existing entity accounts

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