About Guernesey Jurisdiction
It is on this incredible Anglo-Norman island of 65 km2, halfway between the United Kingdom and France, that the famous English writer Victor Hugo wrote Les Misérables in 1882. This jurisdiction as beautiful as mysterious is full of history … and legal subtleties especially!
A special status
With more than 60,000 inhabitants, this island is officially dependent on the British government. However, Guernsey remains independent on fiscal and legal issues in foreign policy decisions (particularly on Europe). The banking and insurance sector represents a large part of the Guernsey economy, accounting for more than 75% of the GDP of the island. Often associated together, Jersey and Guernsey are well known destinations for their tax benefits. These two small islands are often appreciated because they have the status of associate member of the European Union, but they are not members. A unique status that allows tax freedom on the island.
Island of the Offshore
This island is especially renowned for its taxation and taxation system hyper flexible towards expatriates and residents. Indeed, there is initially no tax on wealth, no tax on capital gains, and especially no VAT is applied in the territory. In addition, the maximum personal tax rate is only 20%, but a maximum ceiling of 130 000 to 260 000 Euros depending on the source of income can not be exceeded.
With few exceptions, there is no corporate tax. Also, incorporating a company in Guernsey takes less than 15 days, a fairly long time compared to other jurisdictions. However, the island does not require the need to travel for the beneficiary and the administrative procedures are relatively simple.
Because of its extremely attractive fiscal landscape, the French tax authorities are very suspicious of transactions issued or received from the Guernsey jurisdiction. Also, any professional or non-professional activities related to the latter will also be considered suspicious.
In addition, local authorities require the management of accounts, and generally requires some administrative rigor. This island is full of unique opportunities for anyone who wishes to develop in a serene way, but beware, under certain conditions only!
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