Guernsey
NEWS
FACT FILE
Location Channel Islands.
Time Zone Greenwich Mean Time. +1 in summer.
Population 62,915 (Source: Guernsey facts and figures 2012 published by Policy Council, Guernsey)
Capital St Peter Port.
Airport Guernsey.
Language English.
Currency Pound Sterling (Monetary Union).
Dialing Code +44 1481.
Centre's Expertise Investment funds, captive insurance, fiduciary and banking.
Political System Democracy with a unicameral parliament.
Legal System Guernsey has its own legal system - common law with statutes.
Personal Income Tax 20%.
Corporate Income Tax 0% tax on company profits, except for 10% tax on income form banking and fiduciary business, 20% on income from the ownership of land or buildings. Investment funds can apply to be exempt from taxation.
Exchange Restrictions None.
Tax Treaties 51 treaties signed (as of 24th March 2014). For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies Any.
Minimum Authorised Capital No minimum authorised share capital is prescribed by the Companies (Guernsey) Law, 2008.
Minimum Share Issues One share for a company Limited by Shares.
Shelf Companies No, but standard memorandum and articles of incorporation are available.
Incorporation Time Scale One day maximum, 15 minute incorporations possible where standard memorandum and articles from the Guernsey Registry are used.
Incorporation Fees Fee dependent on speed of incorporation ranging from £100 (24 hours) to £750 (15 minutes).
Annual Fees Annual validation fee dependent on type of company, ranging from £250 (non-regulated) to £1000 (regulated) for non-cellular companies. Fee for cellular companies dependent on number of cells, at £750 plus £100 per incorporated cell and £10 per protected cell. Continuing tax exempt fee for exempt collective investment schemes of £600.
Minimum Number One.
Residency Requirements No, as a matter of corporate law. Regulated businesses will require resident directors.
Corporate Directors Yes, but not for regulated businesses.
Meetings/Frequency AGM not required (subject to waiver resolution being passed).
Disclosure Yes, but beneficial ownership not publically available.
Bearer Shares No.
Minimum Number One.
Public Share Registry No.
Meetings Frequency Accounts to be laid before AGM (subject to waiver resolution being passed).
Annual Return No annual submission of accounts to Guernsey registry required.
Audit Requirements Yes unless waived by members waiver resolution (various exemptions available but not for regulated businesses, or 'large companies' under the companies (audit exemption) regulations, 2008.
Registered Office Yes.
Domicile Issues Migration of companies in/ out of jurisdiction permitted where reciprocal legislation exists in corresponding jurisdiction.
Company Naming Restrictions Yes, compulsory wording such as 'ICC' and 'PCC' for incorporated or protected cell companies, and prohibited wording such as 'Royal,' 'Bank', or 'Fund,' where there is no such connection.
ARTICLES
A Destination of Choice for Non-UK Companies
  In the past decade, Guernsey has established its reputation as the destination of choice for non-UK incorporated companies listing on the Main Market of the London Stock Exchange (LSE) and on the Alternative Investment Market (AIM). (31/12/2017)
The Beneficial Ownership of Legal Persons in Guernsey
  The Beneficial Ownership (definition) Regulations, 2017 (the Regulations), made on 25 July 2017, define the persons or classes of persons (whether legal or natural) who will be a registrable person in respect of a Guernsey Entity. (31/12/2017)
A Modern Finance Environment for a Complex World
  Guernsey Finance Chief Executive Dominic Wheatley explains how Guernsey’s financial services sector has remained at the forefront of innovation in the past year and is utilising its expertise across a variety of asset classes. (30/11/2017)
Q&A with William Mason, Director General of the Guernsey Financial Services Commission
  In an interview with IFC Guernsey, William Mason discusses the obstacles and opportunities that maintaining a robust regulatory regime presents for the Island’s financial services sector and its reputation on the international stage. (30/11/2017)
Guernsey: Stable, Innovating, Leading and Evolving
  Recent political instability and global uncertainty has highlighted Guernsey’s stability and certainty and have helped it stand out as a leading international finance centre (IFC). (01/11/2017)
Listing in an Uncertain World
  The CEO of the International Stock Exchange Group (TISEG) explores how its offering of certainty is strengthening the rationale for debt securities, investment vehicles and trading companies to list on TISE (01/08/2017)
How a CISE Listing Adds Substance and Creates Value
  International developments such as the EU’s Alternative Investment Fund Managers Directive (AIFMD) and the OECD’s Base Erosion and Profit Shifting (BEPS) initiative are placing increased focus .... (01/02/2017)
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FURTHER BACKGROUND INFORMATION
  IFC Guernsey: The Definitive Guide to Guernsey's Financial Sector
  Free digital edition now available. - read more...
  Guernsey Tax Treaties
  Guernsey currently has in place 55 tax agreements consisting of 10 DTAs and 45 TIEAs. - read more...
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