Guernsey has agreed to implement the OECD Exchange of information treaty and has signed an agreement with the UK. This allows HM Revenue & Customs (HMRC) to ask for the bank account details of any company that could be liable for income tax, corporation tax, capital gains tax or VAT in the UK.
Guernsey is one of the more attractive locations in the setting up of offshore businesses, as evidenced by the growing number of companies that have already contributed significantly to the economic growth of the region.
Guernsey is one of the top Channel Islands tax havens. The island changed to a 0/10 taxation system, in many ways similar to the Isle of Man. This means that from 1 January 2008, it has had a 0% corporation tax rate except for finance companies, which pay 10%.
In addition, on the payment of a dividend to a resident shareholder, the company will need to withhold tax at 20%.
Offshore Formations 247 can incorporate Guernsey companies with a choice of offshore bank accounts at the time of company formation. We work closely with a number of banks, including HSBC, and FBME bank in Cyprus. Combining the two saves time and couldn't be simpler.
Offshore Formations 247 are able to incorporate a Guernsey offshore company. Company formation normally takes 1 working day to register.
The identity of the beneficial owners of a Guernsey company may remain confidential if corporate shareholders are engaged to act as the shareholder on behalf of the ultimate beneficial owners. This confidentiality is maintained as long as the company and its ultimate beneficial owners are not involved in any criminal activity. Offshore Formations 247 can supply the use of our corporate shareholders for this very purpose. Similarly, the register of Directors within Guernsey is also publicly accessible and so if anonymity is required, Offshore Formations 247 can supply the use of Nominee Directors.
Guernsey companies are required to produce accounts for each financial year although these are not filed with any external bodies. Companies can obtain exemption from the requirement to have their accounts audited providing that they satisfy tests relating to net turnover, net balance sheet and the average number of employees.
Our Services Offshore Company Formation, Nominee Director, Nominee Shareholder, Mail forwarding and Bank Accounts
Offshore Formations 247 specialize in Guernsey company formations ranging from simple company registrations to complex structures including offshore Trusts and in providing a very comprehensive assortment of administrative services to Guernsey companies, including the provision of Nominee Director, Nominee Shareholder, Mail Forwarding and Bank Account services. We are also able to offer a 'transfer in' service whereby we can take over the management of your existing Guernsey Offshore Company, often for no cost at all.
Our specialist Guernsey company formation and company registration team:
Retains well-established affiliations with local company agents in Guernsey
Maintains an experienced staff with knowledge of legal requirements for company formation in Guernsey
Guarantees that all company filing fees and documents are up-to-date and notifies clients of all Guernsey compliance changes