Dixcart celebrates success of its Business Centres dedicated to substance solutions
31 October 2019
Dixcart Guernsey details how its decision over 15 years ago to focus on substance solutions has led to a raft of successful Business Centres supporting clients across multiple jurisdictions.
Over 15 years ago, the Dixcart Group identified substance as one of several key trends that would significantly affect both private and corporate client structures around the world. A number of initiatives were launched in order to assist and support clients and their changing substance requirements and the Dixcart group founded dedicated business centres in a number of jurisdictions, including the Dixcart Business Centre in Guernsey, to provide physical substance solutions.
In November 2018 their predictions were codified in Guernsey with the introduction of economic substance requirements. This provides an opportunity for international groups and corporate service providers and their clients to review the activities and operations of companies conducting relevant activities to ensure; that they are being properly directed and managed from Guernsey, conducting core income-generating activities here and have adequate people, premises and expenditure.
A range of solutions are available according to the specific requirements and circumstances of the companies including; full management and control in Guernsey by a licensed corporate service provider; enhanced local board and management representation; employment of their own staff in dedicated office space.
With regards to the consideration of physical substance i.e. adequate people and premises, the Dixcart Business Centre, situated at Dixcart House in the heart of St Peter Port offers self-contained, internet-enabled, furnished, 2–4 desk office suites on a short-term license basis.
Now in their 10th year of operation, Dixcart Guernsey has a wealth of experience providing a wide range of substance services. During this time the business centre has hosted and supported 24 companies employing 70 people, each enjoying an average occupancy period of 2 years.
In addition to the new consideration of economic substance, the main reasons for clients choosing flexible term, professionally supported office space have included; establishing start-up operations; requiring a soft landing-zone for relocating to Guernsey; establishment of branch and subsidiary offices for international groups; restructuring of local operations and project space (acquisitions, mergers and liquidations).
Dixcart’s core services remain the provision of fiduciary and professional business services including the establishment and management of international structures for private and commercial clients. The Dixcart Business Centre reflects the group's solution focussed, entrepreneurial approach to working with and supporting international clients, local businesses and commitment to driving economic growth in Guernsey.
The success of the Dixcart Business Centre is down to the quality of the space and support staff, the prime location on the Island and range of additional professional services which Dixcart offer.