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

The British Pound (GBP) is the official currency of the United Kingdom and the Crown Dependencies of Britain

 

KEY CORPORATE FEATURES OF GUERNSEY PRIVATE LIMITED COMPANIES

TYPE OF COMPANY
Shelf company availabilityNo
Time taken for incorporation24 hours, although fast-track is possible with a higher statutory fee
SHARE CAPITAL
Permitted currenciesAny foreign currency
Standard currencyGBP
Minimum issued capitalOne (1)
Authorised capitalN/A
Par / nominal valueOptional
DIRECTORS
MinimumOne (1)
Corporate directorAllowed
Local director requirementsNo, but if there is no Guernsey resident director it will need to appoint a licensed corporate service provider as its resident agent
Location of meetingAnywhere
Minimum number of meetingPer Articles of Association
Publicly accessible recordsDetails of directors are available
SHAREHOLDERS
MinimumOne (1)
Bearer sharesNot allowed
Corporate shareholdersAllowed
Local shareholders requirementsNo
Location of meetingAnywhere
Minimum numbers of meetingsOne unless the shareholders waive the requirement for an AGM
Publicly accessible recordsDetails of share capital and shareholders are available
COMPANY SECRETARY
Local secretary Optional
REGISTERED OFFICE
RequirementsMust be in Guernsey
ACCOUNTS
Preparation of accounts Yes
Audit requirementsMay be exempt depending on companies’ eligibility
Filing of audited accountsNo
Publicly accessible recordsNo
ANNUAL REQUIREMENTS
Annual returnYes, an annual validation form is filed before 31 January each year
Tax returnSubmitted by 30 November following the end of the tax year
GENERAL
Corporate re-domiciliationYes
Double taxation treaty accessUK and Jersey
Exchange control No
Taxation
  • 0% general rate of tax on companies. However, certain regulated activity is subject to a rate of 20%
  • No capital gains tax and withholding tax

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.