Guernsey is an island in the English Channel. It is part of the Bailiwick of Guernsey, a group of islands and part of Crown dependency. The island has its own laws to govern but the British government is responsible for its defense and foreign relations. Like many other islands, Guernsey also depends mostly on tourism and offshore businesses for growth of its economy.
Following are few important factors that make Guernsey an ideal place for foreign investors who want to setup IBCs in one of the world’s safest and reliable offshore jurisdictions.
- Tax rules are very lenient for foreign investors. They are usually taxable at 0% without any applicability of VAT, capital gains tax, stamp duty etc
- There is complete political and economic stability. It is due to its protection by UK and its own economic laws that are not affected by legislation in UK
- Guernsey is part of OECD (organization for economic cooperation & development) due to its adoption of transparency steps. A company established in Guernsey is legally accepted in every part of the world
- The country has air links with all the major airports of UK
- Only a single shareholder and director are required for company formation. They can be corporate along with citizens and residents of any country
- Incorporation of Guernsey offshore company is extremely quick procedure and it takes just around 1 day registration of IBC on most of the occasions
- The country has double taxation avoidance agreement with more than 10 countries. It also has partial treaties with few other countries
- English is the official language of Guernsey and all the documentation processes are conducted in English language
- Audit requirements are not necessary for small companies. Companies with more than 50 employees, net assets of over 3.2 million pounds and annual sales of over 6.5 million pounds are required to file audited financial statements
- Privacy is given prime importance and records of a company are not made public
These are few of the several benefits available in Guernsey for formation of an IBC. Its location, political structure and legislation all are favorable for the formation of IBCs for foreign investors. You can get complete information and assistance for offshore company formation in Guernsey by contacting us via our landline # 971-4-558-6339 or email address [email protected] We will guide you step by step procedure for Guernsey IBC formation.