Guernsey Offshore Company
Guernsey is the second largest of the Channel Islands and is a dependency of the British Crown. The capital and financial centre is St. Peter Port. Guernsey is associated with the European Union by virtue of the treaty of accession entered into by the United Kingdom.
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.
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 |
