OUR PRICES

The description of corporate structures and prices quoted below is serving as a general guide and may be subject to the most recent changes of the legislation in various jurisdictions. We invite you to contact us for the latest update and free quotation.

COUNTRY: Guernsey

Guernsey  Company

Legal form:  Limited Liability Company may take the form of a private company either limited by shares or by personal guarantee of its members. There is no distinction between private and public companies in Guernsey. By far the most usual form that businessmen and/or corporations prefer is the private company limited by shares.

Name of the company: Guernsey companies must use the suffix Limited or Ltd. to denote limited liability and can use any name unless it includes words such as Empire, Crown, Imperial, Windsor, Royal, Assurance, Bank, Building Society or any other words deemed sensitive or offensive. Special consent is required for names such as European or International.

Memorandum and Articles of Association: Consent to incorporate a Guernsey company must be sought from The Financial Services Commission, application is then made to a Judge in Chambers for consent to register. Memorandum and Articles of Association, statement of location of Registered Office and details of the first directors are then lodged with the Registry. Memorandum specifies the activities in which the company may engage and Articles of Association specifies the rules governing the internal management of the company.

Shareholders: There need to be at least two shareholders. Details of the beneficial owners of the company must be communicated to the Guernsey authorities, but that information is protected by secrecy provisions. Details of shareholders appear on the public file, but anonymity can be preserved by the use of nominee shareholders. Bearer shares cannot be issued.

The minimum share capital: Share capital in usually GBP10,000  or above and a capital duty of 0.5% is payable, minimum GBP 50.

Directors of the company and company secretary: The minimum number of directors is one, who may be corporate or individual. The full name, nationality, residential address and occupation together with copy of the passport are required. Details of the directors appear on the public file but anonymity can be preserved by the use of nominee directors. There is no requirement to have resident directors.

Registered office and secretary: Every company, registered in Guernsey is required to have a registered office and address in Guernsey, which should be notified at the Registry's Office. It is also practical that a Guernsey resident company secretary is appointed.

• specified banking activities (which would include money lending, lease purchase, hire purchase and similar financing arrangements carried on in the island) – in which case they are taxable at 10%;
  
• profits derived from activities that are regulated by the Office of Utility Regulation – in which case they  are taxed at 20%; and
  
• income derived from Guernsey land and buildings (whether from property development and exploitation of land or rental income) – in which case tax is charged at 20%.
  

Audit and financial returns: All Guernsey registered companies must file annual returns showing details of shareholders and directors. An exempt company is not required to file annual accounts - only such information as is necessary to quantify Guernsey sources of income.

Meetings: Company meetings need not be held in Guernsey.

Time needed for formation: Usually it is 2-3 weeks.

In order to proceed with the formation of the Guernsey exempt company please visit our  how do I start  page and then proceed to  filling in our application form