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In Guernsey at present there are no general controls over the establishment of a business. Banking, insurance businesses and fund management have to be licensed and in an application for a licence the authorities consider the anticipated benefit to the community as compared to the social and economic cost. The authorities encourage the establishment of businesses that are likely to benefit the local economy whilst not placing undue strain on the Island's staff and office resources. Proposals should be discussed with the Guernsey Financial Services Commission if they involve a finance operation, or with the Guernsey Board of Industry if they are industrial in character.
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