Charitable and philanthropic structures are emerging as a sizeable new stream of business for the legal sector and other professional service providers in Guernsey, says offshore law firm Carey Olsen.

The firm has been involved in setting up a substantial philanthropic foundation holding shares in a client family’s multi-billion dollar, multi-national business and is now working on a similar structure for a Chinese ultra high net worth individual.

Partner Natasha Kapp, speaking at the firm’s autumn trusts conference, explained that Guernsey was chosen for the establishment of the foundation following a long and ...