GENERAL INFORMATION
Guernsey, officially the Bailiwick of Guernsey, is a British Crown Dependency in the English Channel off the coast of Normandy. The capital is St Peter Port. It has legislative and fiscal independence and does not form part of the European Union or Eurozone.
Guernsey enjoys economic and political stability, as well as a sophisticated and robust legal and regulatory system. There are high standards of transparency and accountability. The International Stock Exchange (TISE) is headquartered in Guernsey and provides a listing facility and a market for companies to raise capital from international investors based on a bespoke trading platform.
Guernsey is a leading international finance centre, particularly in relation to funds and listed entities on the TISE and the LSE. It is a world-leading location for investment fund business, particularly for funds of hedge funds, private equity and real estate.
Other basic facts: | Time zone | Greenwich Mean Time |
Official language | English. Guernésiais, is the traditional language | |
National currency | UK pound is the official currency of the United Kingdom and the Crown dependencies of Britain (GPB) |
KEY CORPORATE FEATURES OF GUERNSEY PRIVATE LIMITED COMPANIES
| TYPE OF COMPANY | |
| Shelf company availability | No |
| Time taken for incorporation | 24 hours, although fast-track is possible with a higher statutory fee |
| SHARE CAPITAL | |
| Permitted currencies | Any foreign currency |
| Standard currency | GBP |
| Minimum issued capital | One (1) |
| Authorised capital | N/A |
| Par / nominal value | Optional |
| DIRECTORS | |
| Minimum | One (1) |
| Corporate director | Allowed |
| Local director requirements | No, but if there is no Guernsey resident director it will need to appoint a licensed corporate service provider as its resident agent |
| Location of meeting | Anywhere |
| Minimum number of meeting | Per Articles of Association |
| Publicly accessible records | Details of directors are available |
| SHAREHOLDERS | |
| Minimum | One (1) |
| Bearer shares | Not allowed |
| Corporate shareholders | Allowed |
| Local shareholders requirements | No |
| Location of meeting | Anywhere |
| Minimum numbers of meetings | One unless the shareholders waive the requirement for an AGM |
| Publicly accessible records | Details of share capital and shareholders are available |
| COMPANY SECRETARY | |
| Local secretary | Optional |
| REGISTERED OFFICE | |
| Requirements | Must be in Guernsey |
| ACCOUNTS | |
| Preparation of accounts | Yes |
| Audit requirements | May be exempt depending on companies’ eligibility |
| Filing of audited accounts | No |
| Publicly accessible records | No |
| ANNUAL REQUIREMENTS | |
| Annual return | Yes, an annual validation form is filed before 31 January each year |
| Tax return | Submitted by 30 November following the end of the tax year |
| GENERAL | |
| Corporate re-domiciliation | Yes |
| Double taxation treaty access | UK and Jersey |
| Exchange control | No |
| Taxation |
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The information in this document is not advice of any kind but general information only and should not be relied on as legal advice. Kensington Trust Group recommends seeking professional advice on legal or tax issues affecting you before relying on it. While Kensington Trust Group tries to ensure that the content of this document is accurate, adequate or complete, it does not represent or warrant, express or implied, its accuracy, correctness, completeness or use of any of the information. Kensington Trust Group does not assume legal liability for any loss suffered as a result of or in relation to the use of this document. To the extent permitted by law, Kensington Trust Group excludes any liability for negligence, for any loss, including indirect or consequential damages arising from or in relation to the use of this document.