Company Formation in Guernsey

Procedure to prepare the registration of a company in Guernsey

The Guernsey company set up process is very simple. The experts of LegalBison will assist you throughout every step of it:

• Initial consultation and agreement;
• Payment of the full invoice;
• [IF REMOTELY]: Notarization of POA by client;
• Preparation of registration documents;
• Document signed at the notary;
• Official register validity: immediately.

How long does it take to form a company in Guernsey?

It takes about 2 business weeks to fully incorporate a company in Guernsey with the assistance of our legal experts.

Can I form a company in Guernsey remotely?

The whole incorporation process can be conducted remotely. No travel is necessary but the notarization of documents is necessary.

• A Power of Attorney (POA) from (all) partners is needed;
• The POA is sent to you by us based on the services you want;
• You have to certify the POA by a notary and in some cases legalize it by Apostille (some countries need full legalization);
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address;
• Guernsey being a territory under Great Britain’s sovereignty, it is therefore part of the Hague Convention of the Apostille.

Necessary information to begin with company formation in Guernsey

• 3 options of your desired name for the company and a company contact email address;
• Names, addresses, and emails of all shareholders and board members;
• Short description of your company’s activity.

Required documents to provide to register a company in Guernsey

• Passport copies (scans) of all individuals mentioned above and the beneficiary owner if applicable;
• A Power of Attorney (in case of a remote company registration);
• Certified company documents (in case at least one of the shareholders is going to be a foreign company).

Taxation of companies in Guernsey

The corporate income tax rate is 0% for both resident and non-resident companies, but there are important exceptions:

• A rate of 10% applies to financial services companies, including banking;
• A rate of 20% applies to real estate, large local retail, gas/oil import, and cannabis-related businesses.

Companies are entitled to submit an annual tax return, even if their effective taxation rate is 0%.

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DTAA signed by Guernsey for companies

Many countries have bilateral conventions with Guernsey to avoid double taxation and prevent fiscal evasion. These include Cyprus, Estonia, Hong Kong, Isle of Man, Jersey, Liechtenstein, Luxembourg, Malta, Mauritius, Monaco, Qatar, Seychelles, Singapore, and the United Kingdom.

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Accounting and audit requirements for a company in Guernsey

Accounting is compulsory for tax return purposes but companies registered in Guernsey are not liable to present yearly accounts to the Guernsey Registry.

Companies are liable to file an “annual validation” with a fee depending on their business activity, ranging from 250 GBP to 1,000 GBP.

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Economic substance and residency requirements for companies in Guernsey

Any registered company in Guernsey must have a registered office within Guernsey.

• There are no residency obligations for company directors;
• Nominee directors are allowed and available in Guernsey.

LegalBison offers help with all of the above requirements. Get in touch now to inquire about the Guernsey company setup cost and draw a roadmap for your offshore startup.

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