Company formation in Guernsey
In 1950, Guernsey became a pioneer in offshore / non-resident sector.
At that time, registered foreign companies (offshore companies) were subject to a fixed company tax of 500 GBP per year.
Because this right has been repealed and replaced by more modern regulations, through which all offshore companies are transformed into domestic companies, which are currently fully taxable.
However, Guernsey companies can benefit from full tax exemption if they comply with the new Income Tax Regulation (known as Guernsey's "exempt company") of the 1989 Regulation.
Therefore, Guernsey companies that comply with this agreement are referred to as tax-exempt companies.
Guernsey offshore company will not pay taxes on income generated outside of Guernsey.
Also investing in real estate in Poland will not result in income tax.
As a benefit to Guernsey offshore corporations, they can set up a branch of company, a management office on Guernsey.
Guernsey companies are no longer limited to offshore operations.
In accordance with the new international regulatory requirements, a thorough tax review was carried out for Guernsey companies.
Tax code 0/10 applies to Guernsey companies, both offshore and onshore.
Under this tax code, Guernsey companies are subject to 0% tax, while loan companies and banks are subject to a 10% flat tax rate.
Guernsey companies that generate business or construction income are subject to a 20% tax rate.
Password 0/10 is misleading; Guernsey companies are subject to one of four tax options, not just 0 and 10.
Some Guernsey companies can maintain exemption status as long as the company's revenues are generated outside of Guernsey.
Furthermore, some companies may pay an annual exemption fee of 600 GBP.
The main type of company on Guernsey, best suited for international business, is the Ordinal Company.
This company can operate both onshore and as an offshore Guernsey company.
A Guernsey company has legal personality, separate from its shareholders, which is formed when it is created and continues until it is removed from the company register.
A Guernsey offshore company may be: a limited company or limited warranty; unlimited company or mixed liability.
A company is considered a mixed capital company if it has shareholders with share capital, it has both guaranteed and unlimited shareholders.
Guernsey companies that are limited by shares must have share capital.
Shareholder's liability is limited to the amount of free shares held.
Limited liability companies have large share capital, and the liability of shareholders is limited to the amount of the guarantee.
Guernsey companies are founded with at least one shareholder.
The basic document regarding the establishment for offshore Guernsey company are: agreement and statute as well as registration certificate issued by register of companies.
Articles of association must contain: name of the Guernsey company, address of company's registered office, type of company, type of company in relation to its shareholders.
If company has share capital, details of shares should be recorded for each shareholder.
Beneficiaries of Guernsey offshore companies are required to sign a declaration of compliance, which essentially states that company is registered in accordance with the law.
Name of company should end with an expression that specifies type of company: mixed liability or ML; limited guarantee company - Limited by guarantee or LBG; company limited by shares - Limited, With limited liability, Ltd .
Two or more Guernsey companies may merge into one or a new entity.
Mergers can be made with companies registered in Guernsey or registered in foreign jurisdictions.
Guernsey offshore companies can be founded in one day.
All companies must have a Guernsey resident agent who deals with the registration process.