Fact File Supplied By:
Tony Lane, Carey Olsen.
Channel Islands (Part of the British Isles).
GMT (+1 in summer).
63,711 (March 2022).
St. Peter Port.
Guernsey Airport (IATA code: GCI).
Pound Sterling (Monetary Union).
Democracy – Parliamentary Constitutional Monarchy.
International dialing code
A self-governing jurisdiction with its own jurisprudence and legal system which comprises a blend of statute, common law and customary law principles.
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, intermediary and management), custody, fiduciary, fund administration, investment management for individuals, compliance and other related
activities provided to regulated businesses, operating an investment exchange, operating
an aircraft registry, and 20% tax on income from the ownership of land or buildings in Guernsey, operating a regulated utility company, retail in Guernsey (where taxable profits exceed £500k), importation and/or supply of oil and gas, cultivation of cannabis plants (or the use of those plants) and licensed production of controlled drugs.
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 incorporations 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 £50 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).
All Guernsey companies must file an annual validation with the Registry between 1 January and the last day of February (except companies incorporated in December the previous year).
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.