Guernsey, a small island covering 24 square miles, is situated in the English Channel, off the north west coast of France and is the second largest of the Channel Islands. Historically the island formed part of the Duchy of Normandy but became a British Crown dependency in 1066, with a legal system based on a mixture of English and French Law. The national currency is the UK Pound Sterling. Currently, no foreign exchange controls are in existence. The island’s official language is English, but French is widely spoken.
General Information
- Type of Company – Non Resident with Exempt Company status.
- Legislation – The Guernsey Company Law 1994 to 1996 as amended, based upon English Law.
- Company name – The word ‘ Limited ‘ must be part of an English name. If a French title is preferred, the words ‘avec responsabilité limitée’ may be used.
- Time-scale for incorporation - 10 to 12 days.
- Disclosure of beneficial owners prior to incorporation is required.
- Double tax treaties - Currently, agreements concluded with Jersey and the United Kingdom.
- Ready-made companies are NOT available.
- Money laundering legislation is in existence.
Local Requirements
- Registered Office and Registered Agent must be maintained.
- Company Secretary is required and may be a natural person or corporate body and there are no residency requirements. However, a sole director cannot also act as a secretary.
- Public recording of shareholders and directors are required, but anonymity is retained through nominees.
- Accounts and Audit requirements are NOT required for public filing, but keeping of accounting and book records is required, as these may be requested by the Registrar or other authorities in Guernsey.
Corporate Requirements
- Minimum number of shareholders - Two (2). May be natural persons or bodies corporate and can be of any nationality or residency.
- Minimum number of directors - One (1). May be natural persons or bodies corporate and can be of any nationality or residency.
- Minimum capital requirement – None
- Standard Authorised Capital – GBP£2,000
- Bearer shares are NOT permitted.
- Corporate Directors are permitted.
Annual Requirements
- Annual return and annual statutory meetings are required, together with an Annual Return filing fee of GBP£100.
- Statutory accounting is NOT required.
- Annual Government Exempt fee of GBP£600 is required.
- Taxation – Totally exempt from income tax in respect of income from sources outside Guernsey.