Offshore Company Formation Guernsey

Gereral Information about Guernsey

Guernsey is the second largest of the Channel Islands. It covers about 27 sq. miles and the population is approximately 65,000. The capital and financial centre is St. Peter Port. The Island has a history dating back many centuries and there is evidence of human occupation from about 5,000 B.C. In the tenth century the Island became a possession of the French Duchy of Normandy, as a direct result of which it eventually became a dependency of the British Crown.

The Bailiwick of Guernsey, as it is called, comprises the Islands of Guernsey, Alderney, Herm and Sark. The latter three islands can legislate for themselves in some areas. The Bailiff presides over the legislative body, known as the States and is also the president of the Royal Court. The Lieutenant Governor represents the British monarch. The States consists of 45 elected members and Guernsey is internally self-governing. The British Government is responsible for foreign affairs and defence. Guernsey is associated with the European Union by virtue of the treaty of accession entered into by the United Kingdom. The main industries are financial services, agriculture and tourism.
 

Guernsey Financial Services

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 Taxation

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.

Why not talk to us about forming an offshore company in Guernsey? Call +353 1 431 9663 or Click Here to contact us.