Created Date: 16 February 2023
创作日期16 February 2023
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Part III VASP Licence Decision Tree

The following decision tree relates to the requirement for virtual asset services providers ("VASPs") to hold a licence under Part III of the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the "LCF Law"; a "Part III VASP Licence").

The requirement or otherwise for a Part III VASP Licence does not mean that a licence will not be required under other parts of the LCF Law. Please visit our decision trees for Part II Licences, Part III FFB Licences and Part IV Licences to check.

Please note that this briefing is intended to provide a very general overview of the matters to which it relates. It is not intended as legal advice and should not be relied on as such. © Carey Olsen (Guernsey) LLP 2025

 

Is the activity being undertaken by:

  • a person (where the activity is undertaken either in or from within the Bailiwick); or
  • a Bailiwick body (where the activity is undertaken in or from within any place whatsoever)?

"person"

"person" includes –

(a) an individual,

(b) a company,

(c) any other legal person, and

(d) an unincorporated body

"Bailiwick"

"Bailiwick" means the Bailiwick of Guernsey

"Bailiwick body"

"Bailiwick body" means –

(a) a Guernsey body, being –

(i) a Guernsey company,

(ii) any other legal person registered, constituted or incorporated in Guernsey (including for the avoidance of doubt a Guernsey limited liability partnership, a Guernsey limited partnership with legal personality and a Guernsey foundation), or

(iii) an unincorporated body whose principal place of business is in Guernsey,

(b) an Alderney body, being –

(i) an Alderney company, or

(ii) an unincorporated body whose principal place of business is in Alderney,

(c) a Sark body, being any body, other than one mentioned in paragraph (a)(i) or (ii) or (b)(i), whose principal place of business is in Sark.