Chesterfield (London) - Headquarters
207 Old Marylebone Road
London
NW1 5QP
Tel: +44 (0) 203 771 3853
Fax: +44 (0) 203 771 3856
Email: sales@groupchesterfield.com

Guernsey Offshore

Guernsey (officially the Bailiwick of Guernsey) is the second largest of the Channel Islands located in the English Channel off the coast of Normandy and is a dependency of the British Crown. The Bailiwick of Guernsey has 10 parishes and three islands aswell as the islands of Alderney and Sark which have their own parliament.

Although its defence is the responsibility of the UK it is not a part of the UK or the European Union, although Guernsey is associated with the European Union by virtue of the treaty of accession entered into by the United Kingdom. The capital and financial centre is St. Peter Port. Guernsey has complete control over internal affairs and certain external matters. Guernsey’s legal system came from French customary law although it is also heavily influenced by English Common Law. Members of the Guernsey legal profession are known as advocates and fill both role of solicitors and barristers.

Tourism, manufacturing and horticulture which accounted for the main economy of Guernsey have been on the decline and financial services now account for a large percentage of the total income. At the moment Guernsey have no national debt as its deficit is supported by surplus funds.

The Guernsey Financial Services Commission is the statutory body, which regulates the financial services industry. In addition to the regulation of banking, insurance and fund management companies, there is a licensing system for businesses providing company formation and management services and trustee services. Guernsey is a major centre for captive insurance and offshore fund management activities. Guernsey prides itself on being a well regulated jurisdiction which is not achieved at the expense of client confidentiality. Guernsey has various double tax treaties and information exchange agreements and is currently on the OECD’s white list.

In order to meet its international obligation to operate a tax regime, which treats both onshore and offshore companies in the same manner, Guernsey is in course of changing its tax regulations. The result will be the abolition of the Guernsey exempt company and it is planned to introduce a zero rate of tax for all companies, both offshore and onshore.


Guernsey offshore company regulations
Type of entity Exempt
Type of law Common
Corporate taxation Nil
Double taxation treaties available UK & Jersey
Share Capital
Usual currency GBP
Permitted currencies Any 
Minimum paid up GBP 2
Usual authorised GBP 10,000
Directors
Minimum number 1
Local resident required No
Records publicly available Yes
Corporate Director allowed Yes 
Shareholders / Members
Minimum number 2
Records publicly available Yes 
Location of Meetings Anywhere
Company Secretary
Required Yes
Local or qualified No
Accounts
Required Yes
Audit required No
Filing required No
Publicly available No
Other
Annual return required Yes
Change of domicile permitted Yes 
Availability of shelf companies No
Time to incorporate shelf co N/A
Time to incorporate new co 5-8 working days

To learn more about  Guernsey Corporate services follow the link below or call us on our offices

Telephone Number: 44 20 7097 1385



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