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
The Rights and Wrongs of Beneficial Ownership Registers
  There is no international standard concerning the publication of information held on beneficial ownership registers. The publication of information raises serious legal issues. (01/11/2018)
Q&A with David Lidington, Minister of the Cabinet Office
  The UK’s secure relationship with the British Overseas Territories has been thrown into question following the UK parliament's decision to implement public registers of beneficial ownership. (01/10/2018)
TISE: A Future Focused Exchange
  Mark Oliphant, Head of Communications at The International Stock Exchange Group (TISEG), looks at the innovative approach of The International Stock Exchange. (01/10/2018)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
Guernsey Goes For Green
  Guernsey, already a leading funds jurisdiction, is developing its position as a centre for green and impact investment. (01/09/2018)
The Beneficial Ownership of Legal Persons in Guernsey
  The Beneficial Ownership Regulations, 2017 define the persons or classes of persons (whether legal or natural) who will be a registrable person in respect of a Guernsey Entity. (01/03/2018)
The Guernsey ICC and Longevity Risk Transfer
  2017 saw Guernsey underline its position as the ‘go-to’ jurisdiction for longevity risk transfers with the announcement of two further deals. (08/01/2018)
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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...
  read all