Guernsey Supports Businesses, Expats To Relocate
by Jason Gorringe, Lowtax-net, London
19 September, 2014
Guernsey has launched its "BusinessGuernsey" website to support businesses and individuals seeking to relocate to the island.
Launched by the Commerce and Employment Department, it provides visitors with valuable information about setting up a business or expatriating to Guernsey. Deputy Kevin Stewart, the Commerce and Employment Department Minister, explained that the launch of the website follows the publication of its Economic Development Framework, which considers ways to diversify the economy by supporting inward investment.
"Our Economic Development Framework is a strategically important document, not just for the Department, but for the whole island as it will help enable growth in the economy," Stewart said. "This website and the public and private sector promotional work to support it are vital in making clear that Guernsey is open for business and ready to help that business flow into the island."
The site points out that Guernsey offers favorable personal and corporate tax regimes, with no capital gains, inheritance, or value-added taxes. Companies generally pay tax at zero percent, but financial services companies and utility companies pay tax at 10 and 20 percent, respectively.
The personal tax rate is a flat 20 percent, after the deduction of personal allowances and reliefs. Additionally there is a special regime for those who are resident in Guernsey, but not solely or principally resident.
"The site shows very evidently that the States of Guernsey is keen to provide practical help if it's needed. It has a huge amount of information, logically presented in a user-friendly way," Steward added.
For businesses, the site also covers housing and immigration, the company registry and the regime for intellectual property, premises and planning, staffing, dealing with the Government, regulation, and the aircraft registry. For individuals, the site includes guides on tourist attractions, the immigration process, property and housing, education, tax and financial matters, the island's business community, lifestyle, and health.
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