Guernsey is a long established low tax area, situated in the English Channel. A dependency of the British Crown but with its own legislature it does not form part of the United Kingdom nor is it a member of the European Community. Situated between England and France and with its relaxed life style, mild climate and entrepreneurial spirit, Guernsey is an attractive jurisdiction through which both people and corporates can structure or relocate their financial affairs.
The tax system in Guernsey is relatively straightforward. The island has no capital gains, inheritance, wealth or sales taxes and neither does it have VAT. There is a flat standard rate of income tax for Guernsey resident individuals of 20% with tax capping for higher earners in certain circumstances.
The Guernsey corporate tax regime underwent extensive change in 2008. The standard rate of tax applicable to most Guernsey companies is now 0%. There are exceptions for profits derived from Guernsey land and property ownership/development (20%), profits derived from banking activities (10%) and the profits from regulated utility companies (20%).
If you are considering moving to Guernsey there are a number of websites you may find of interest and they can be accessed through the links below.
Panoramic photographs showing Island Scenes, including Guernsey’s beautiful coastline, can be found on the Guernsey tourist board gallery, together with photographs of the other four Islands within the Bailiwick of Guernsey.
To gain an insight of Island life extracts from the local newspaper, radio and television, together with events and community information can be found on www.thisisguernsey.com
. If you would like to find out more about the History and Culture of the Island then Island Life may be of interest.
In order to work in Guernsey you will need the local authorities to issue a Right to Work document, which is linked to your housing licence status and more details of this process are given via government website. If you are considering moving to Guernsey from outside of the European Union then a work permit will also need to be issued to allow you to enter the Island.
For an overview of the Income Tax structure and Guernsey Taxation in general please visit the government website about Guernsey taxation.
There are currently a large number of properties available to rent on the Island and a selection of these can be viewed through estate agents, including Swoffers and Lovells. Many of these rental properties are within the Parish of St Peter Port where most offices are based, which makes commuting to work a 10-15 minute journey in peak hour traffic.