Guernsey
Financing a Business in Guernsey
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Guernsey Financing A Business
The main incentive for a UK business looking to expand or open a company in Guernsey is the low taxation. With taxes far lower in Guernsey than the UK mainland, the financial advantages include:
- Between 0% and 20% personal income tax
- Between 0% and 30% corporate (depending on the nature of your business)
- No import tariffs
- No exchange tariffs
Private Financing
A good starting point for investigating private finance options on the island is the Guernsey Enterprise Agency www.gea.gg
The agency can offer free advice regarding business plans and cash flow. There are several banks on the island, which provide services such as loans and credit. It is advisable to consult an accountant before making any formal approaches to a bank and to make sure that you have an extensive business plan in place.
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