Guernsey Business, Taxation and Offshore Information
Guernsey Not in EU Fiscal Area
The island of Guernsey, one of the Channel Islands between England and France, is a British Crown dependency although in practice is it self governing. Britain is responsible for its external affairs including negotiations with the European Union; under the UK's accession treaty with the EU, Guernsey forms part of the single market but is outside the EU fiscal area. Guernsey does not generally enter double-tax agreements, but has treaties with the UK and Jersey.
Economy Buoyant But Guernsey Is Full Up!
Guernsey has a buoyant economy dominated by the finance sector. Unemployment is very low. The political stability in Guernsey together with its consistently low tax status and its international reputation as an important financial centre make it an attractive prospect to foreign investors and workers. To protect the island's limited resources the government tends to discourage labour-intensive inward investment that is controlled by non residents. There are no investment grants or incentives, but electronics and other knowledge-based industries have been encouraged. More »