There are many benefits of moving to Guernsey – the second largest of the Channel Islands.
English-speaking and in the same time zone as the UK, Guernsey is a mature, thriving financial hub with a good reputation and excellent standards.
A strong community spirit, high-quality schooling and a low crime rate are just some of the things that make the island stand out as a relocation destination. Closer to France than England, the island enjoys a mild climate, with short winters and long summers. This helps islanders to enjoy its beautiful beaches, outstanding restaurants (many of which have al fresco dining) and a plethora of outdoor activities.
Guernsey has its own democratically-elected parliament, which dictates laws, budget and levels of taxation. It is here that an already attractive proposition becomes almost irresistible.
- Corporation tax is set at zero*
- There is no capital gains tax, inheritance tax, VAT or withholding tax
- A flat rate of 20% income tax applies
- Taxes on local property (akin to rates) are low compared with other jurisdictions
There are exceptions to zero rate of corporation tax. For any income derived from banking, regulated fiduciary, domestic insurance, insurance intermediary and insurance manager businesses, a rate of 10% is levied. And, a 20% rate applies to those making money from the ownership of land and buildings, as well as those receiving income from trading activities that are regulated trading activities regulated by the island’s competition and regulatory authorities (CICRA).
For individuals with a substantial income, there is a maximum annual charge of £220,000 covering worldwide income, or £110,000 for non-Guernsey income. Alternatively, a standard income tax charge of £30,000 may apply to certain individuals who are resident in Guernsey but spend a lot of time in another place.
The island has a two-tier housing system – Local Market and Open Market. To qualify for the local market, buyers must either have been born on the island, or they must have a housing permit entitling them to buy property on the local market. Open Market property can be bought by anyone. To find out more about relocating to Guernsey contact us today.
Featured Property
Apartment 13, Marina Court
Glategny Esplanade, St Peter Port
This superb fully furnished penthouse apartment is located just a few minutes walk from the centre of town and is situated in a landmark building which was built to a very high specification and enjoys highly attractive views of the Marina, sea and islands beyond. Approximately 2,000 sq. ft. The apartment has a very spacious living room that is complemented by a beautifully fitted bespoke kitchen plus two bedrooms, both of which are ensuite and fitted to a very high standard. A peaceful courtyard, communal gardens, two garage parking spaces plus a concierge service compliment this desirable apartment.
- Superb penthouse apartment
- Two large ensuite bedrooms
- Fully furnished to a high standard
- Sea and island views
- Minutes’ walk to the town centre
- Health suite on site
- Concierge service
- Secure parking & communal gardens
