Guernsey Exempt Corporation

Guernsey is one of the Channel Islands, famous for its tax-haven status. In recent years, Guernsey’s financial centre has become increasingly important, with most international banks having either a branch or subsidiary in Guernsey. The island is also home to branches or subsidiaries of many major international insurance companies. In terms of security and stability, Guernsey is as good as it gets. Guernsey has agreed to implement the OECD Exchange of information treaty and has signed an agreement with the UK. This allows HM Revenue & Customs (HMRC) to ask for the bank account details of any company that could be liable for income tax, corporation tax, capital gains tax or VAT in the UK.

 

Key Features

Guernsey Exempt Company

Corporate Details

General

  • Type of Entity

Exempt Company

  • Type of Law

English Common Law

  • Registered Office in Guernsey

Yes

  • Shelf company availability

No

  • Our time to establish a new company

1 Business days

  • Corporate Taxation

No

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

GBP

  • Permitted currencies

Any

  • Minimum paid-up

GBP 1

  • Usual authorized

GBP  10,000

Directors

  • Minimum number

1

  • Local required

No

  • Publicly accessible records

Yes

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Members

  • Minimum number

1

  • Publicly accessible records

Yes

  • Corporate members allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

No

  • Local or qualified

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Other

  • Requirement to file annual return

Yes

  • Migration of domicile permitted

No

 

Advantages

  1. No authorized share capital
  2. Unlimited objects
  3. Single members are permitted
  4. No requirement to file accounts
  5. Ability to waive requirement to hold AGM’s and to have accounts audited (subject to certain conditions)
  6. Distributions are by way of a solvency test
  7. Simple and cost-effective striking off
  8. Standard rate of tax applicable to companies is 0%

 

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.