Guernsey: Types of Company
Private Company Limited by Shares
Guernsey private limited companies are governed by the Companies (Guernsey) Law 2008. It takes less than 24 hours to incorporate a company in Guernsey, and approval is required from the Registrar for company names.
Single member companies may be formed under the new law, dispensing with the need for at least two shareholders. There can be one or more directors, but there is no longer a requirement for a company secretary. There are no residence restrictions on directors.
There are 'default' standardised articles for incorporation, unless a company draws up its own constitutional documents.
Annual returns are no longer required, but companies are required to validate information held by the Companies Registry on an annual basis.
Every company shall hold a meeting of its members within 18 months of the date of incorporation and then once every calendar year thereafter. No more than 15 months may elapse between one annual general meeting and the next.
Guernsey companies may be incorporated under the laws of another jurisdiction under the Companies (Guernsey) Law 2008.