Fact File Supplied By:
We are Guernsey.
GMT +1 in summer.
62,754 (Sept 2018).
St. Peter Port.
Pound Sterling (Monetary Union).
Democracy with a unicameral parliament.
International dialing code
Guernsey has its own legal system - customary law with statutes.
Insurance, investment funds, fiduciary, pensions, investment management, banking, green finance.
Personal income tax
Corporate income tax
0% on company profits, except for 10% tax on income from banking, insurance (relating to domestic business), fiduciary and fund administration, and 20% tax on income from the ownership of land or buildings. Investment funds can apply to be exempt from taxation.
Tax information exchange agreements
60 signed TIEAs as of August 2017.
As of July 2, 2019
Argentina, Japan, Australia, Korea (Republic of), Austria, Latvia, Bahamas, Lesotho, Belgium, Lithuania, Bermuda, Macau, Botswana, Mauritius, Brazil, Mexico, British Virgin Islands, Montserrat, Bulgaria, Netherlands, Canada, New Zealand, Cayman Islands, Norway, Chile, Poland, China, Portugal, Costa Rica, Romania, Czech Republic, San Marino, Denmark, Seychelles, Faroe Islands, Slovakia, Finland, Slovenia, France, South Africa.
Full Double Tax Treaties
Cyprus, Hong Kong, Isle of Man, Jersey, Liechtenstein, Luxembourg, Malta, Mauritius, Monaco, Qatar, Seychelles, Singapore, United Kingdom.
Partial Double Tax Treaties
Australia, Denmark (Individuals) (Shipping & Aircraft), Faroes (individuals) (Shipping & Aircraft), Finland (Individuals) (Shipping & Aircraft), Greenland (individuals) (Shipping & Aircraft), Iceland (individuals) (Shipping & Aircraft), Ireland, Japan, New Zealand, Norway (Individuals) (Shipping & Aircraft), Poland (Individuals) (Shipping & Aircraft), Sweden (Individuals) (Shipping & Aircraft).
Minimum authorised capital
No minimum authorised share capital is prescribed by the Companies (Guernsey) Law, 2008.
Minimum share issue
One share for a company limited by Shares.
No, but standard Memorandum and Articles of Incorporation are available.
Timescale for new entities
One day standard, 15 minute incorporation possible where standard memorandum and articles from the Guernsey Registry are used.
Fee dependent on speed of incorporation ranging from £100 (24 hours) to £750 (15 minutes).
Annual validation fee dependent on type of company, ranging from £250 (non-regulated) to £1,000 (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.
No, as a matter of corporate law. Regulated businesses will require resident directors.
Yes, but not for regulated businesses.
AGM not required (subject to waiver resolution being passed).
Yes, but beneficial ownership not publicly available.
Public share registry
Accounts to be laid before AGM (subject to waiver resolution being passed).
No annual submission of accounts to Guernsey registry required.
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).
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.