No matter whether you are considering relocating
personally and/or professionally, there are few better options than
The Island, sitting in the English Channel between the
UK and France, is 24 square miles (62km2) in size and
has a population of just over 60,000. It is a British Crown
Dependency, which means it is legislatively and fiscally
independent of the UK and the EU and has its own democratic
Guernsey combines many of the reassuring elements of UK culture
with the benefits of living abroad. For example, the Island is
English speaking, uses the British pound Sterling and is in the
same time zone as the UK but enjoys a more temperate climate
similar to Northern France. In addition, there are short journey
times for on-Island commuting, a good range of shops, cafes, bars
and restaurants and a host of recreational opportunities ranging
from yachting and water activities to sport and music.
Moving to Guernsey is made easy by the potential for seamless
integration into the local community, where there is no distinct
divide between the native population and new arrivals.
Tax - Personal
Personal income tax is levied at a maximum of 20% and
individuals/married couples can take advantage of various tax
capping arrangements. There is no inheritance tax or value
added/general sales tax.
Guernsey provides an extremely high quality level of schooling.
There are no shortages of places, UK curriculum and examinations
are followed and results are impressive. Many continue their
studies at UK universities, although further courses and
qualifications are also increasingly available on-Island.
There are no restrictions on purchasing property but there are
on occupation – any EU national can take up residence in
an open market property; local market properties are available to
those qualifying by birth/period of residency or moving to the
Island as a designated key worker.
Financial Services Infrastructure
Guernsey plays host to a finance industry with unique breadth
and depth. These service providers are supported by expert lawyers
and accountants, a dynamic stock exchange, world class
telecommunications and a robust yet pragmatic regulator.
Over the last four decades the Island has established a
reputation as a leading international finance centre providing a
wide range of products and services to a global client base at the
very highest standards. Guernsey was among the first to be placed
on the OECD 'white list' and has consistently been
recognised as a top-tier jurisdiction.
Tax - Corporate
Guernsey is reviewing its system of corporate taxation but is
committed to maintaining a competitive, sustainable and
internationally accepted regime. Currently in place is
'Zero-10', where all companies are taxed at 0% except for
banks who are liable at 10% on certain activities. There is no
withholding tax on dividends paid, no capital gains tax and no
value added/general sales tax. Employers pay Social Insurance on
payroll capped at a rate of 6.5% on a maximum salary of
£117,468 per employee.
Guernsey's good links to the UK (both London and the wider
regions) and continental Europe mean that travelling for business
or to visit family/friends is quick and simple. For example, the
actual flight time to and from London is usually 45 minutes,
enabling day trips in either direction.
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