Guernsey - Benefits
Guernsey is a leading international financial centre with a good reputation and excellent standards. Factors contributing to and enhancing the status of this jurisdiction include:
- A general rate of tax payable by Guernsey companies of zero.
- Guernsey does not levy Value Added Tax (VAT) on transactions.
- There are no wealth taxes, no inheritance taxes, and no capital gains taxes.
- A cap of £250,000 for Guernsey resident individual tax payers, on the tax payable on their worldwide income.
- Legislative and fiscal independence mean that the Island responds quickly to the needs of business. In addition the continuity achieved through the democratically elected parliament, without political parties, helps deliver political and economic stability.
- The unique relationship with the European Union (EU) provides a number of the advantages of being in the EU without all of the implications of operating as a full EU member state.
- A wide range of internationally respected business sectors. These include; company management, trust administration, insurance (Protected Cell Companies) and fund management. To meet the needs of these professional sectors, a highly skilled workforce has developed in Guernsey.
- Changes in the law during 2006, further enhanced Guernsey’s position as an international base for Intellectual Property (IP). Legislation is modern and innovative and the Island has its own IP Registry and is fully TRIPS* compliant.
*TRIPS: Trade Related Aspects of Intellectual Property Rights
*TRIPS: Trade Related Intellectual Property Rights