Spring Forum May 2021 Event Brochure
Locate Guernsey Spring Forum brochure. Thursday May 6th 11 am BST.
Locate Guernsey Spring Forum brochure. Thursday May 6th 11 am BST.
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Locate Guernsey<br />
<strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong><br />
Webinar <strong>Brochure</strong><br />
6 <strong>May</strong> <strong>2021</strong><br />
A better life for you<br />
1
Foreword<br />
by Jo Stoddart<br />
Director, Locate Guernsey<br />
Thank you for registering for Locate Guernsey’s<br />
<strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>. We hope that you will enjoy<br />
the opportunity to find out more about the island<br />
of Guernsey and the many benefits of making a<br />
home and running a business here.<br />
Guernsey enjoys an<br />
excellent reputation which<br />
has been built on political<br />
and economic stability.<br />
It is seen as a jurisdiction<br />
which is safe, secure<br />
and trusted and this has<br />
certainly proved to be the<br />
case during the island’s<br />
management of the<br />
Covid-19 crisis. Guernsey<br />
is a beautiful and dynamic<br />
place where your family<br />
and your business can<br />
thrive and prosper in<br />
a very uncertain world.<br />
We are very grateful to<br />
Lord Digby Jones and<br />
other recent arrivals who<br />
have been willing to share<br />
their thoughts about living<br />
in Guernsey – we have no<br />
doubt that you will enjoy<br />
their contributions to this<br />
webinar. We also extend<br />
our thanks to Ross Le<br />
Marquand, Open Market<br />
Sales Director at Cooper<br />
Brouard estate agents<br />
and to Caley Clarke,<br />
Tax Director at BDO<br />
Guernsey for sharing their<br />
expertise and knowledge<br />
with our audience.<br />
This brochure contains<br />
some important<br />
information about island<br />
life and I encourage you<br />
to read it and refer back<br />
to it. If you require more<br />
detailed information<br />
about any subject, please<br />
do contact the Locate<br />
Guernsey team for this<br />
and answers to any<br />
specific questions you<br />
may have – we want to<br />
help you understand<br />
how easy it is to make a<br />
home on the island and to<br />
establish a business here.<br />
I relocated to Guernsey<br />
over 15 years ago having<br />
previously lived in Paris,<br />
London and Jersey.<br />
I feel very lucky that my<br />
children have enjoyed a<br />
Contact details<br />
T: +44 (0)1481 220011<br />
M: +44 (0)7781 134567<br />
E: Jo@locateguernsey.com<br />
childhood in Guernsey<br />
that many people can<br />
only dream of – excellent<br />
education, great<br />
healthcare, clean air and<br />
a carefree existence in a<br />
safe and beautiful place.<br />
It’s been very interesting<br />
to see throughout the<br />
Covid crisis, how many<br />
Guernsey people have<br />
moved back “home”<br />
and how many others<br />
have seen the benefits<br />
which life in Guernsey<br />
offers, and have seized<br />
the opportunity to<br />
make Guernsey their<br />
home. Guernsey truly<br />
does offer a better life<br />
for you and we look<br />
forward to welcoming<br />
you to our shores.<br />
2 Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
Foreword<br />
by Lord Digby Jones<br />
Lord Digby Jones spent 20 years at corporate law<br />
firm Edge & Ellison in Birmingham, the last three<br />
as Senior Partner. He subsequently spent six years<br />
as Director-General of the CBI and a further couple<br />
of years as Minister for UK Trade & Investment.<br />
Image courtesy of<br />
The Guernsey Press<br />
Lord Digby Jones and<br />
his wife, Lady Pat Jones,<br />
became permanent<br />
residents of Guernsey<br />
in the spring of 2020<br />
having previously bought<br />
a holiday home on the<br />
island. They dropped<br />
the UK element of<br />
their dual residency.<br />
Digby will explain what<br />
led to their decision, how<br />
the Guernsey Authorities’<br />
response to the Covid<br />
pandemic, linked to a<br />
wonderful “Guernsey<br />
Together” spirit, played<br />
its part and how the<br />
quality of life continues<br />
to take their breath away<br />
on a regular basis.<br />
Words such as “decent”,<br />
“safe”, “courteous”<br />
and “friendly, warm<br />
and welcoming” may<br />
seem old-fashioned<br />
descriptions to explain<br />
their experience so far<br />
but that’s the truth of the<br />
matter. The fiscal regime<br />
is of course attractively<br />
internationally competitive<br />
but the “Guernsey Extra”<br />
is the special ingredient...<br />
and you won’t find<br />
that anywhere else!<br />
A scholarship boy at<br />
Bromsgrove School<br />
and law graduate from<br />
University College,<br />
London, Digby spent<br />
some time in the Royal<br />
Navy before starting<br />
his corporate career.<br />
Following his time in<br />
politics and the Public<br />
Sector, he returned<br />
to the Private Sector<br />
as Chairman of the<br />
International Advisory<br />
Boards of British Airways<br />
and HSBC and Senior<br />
Advisor to BP and<br />
AON. A past winner of<br />
Celebrity Mastermind,<br />
he has written two books<br />
(“Fixing Britain” and<br />
“Fixing Business”) and<br />
presented the BBC’s New<br />
Troubleshooter TV series,<br />
the “Business Covenant”<br />
series for BBC Radio 4<br />
and the series “Preparing<br />
for Brexit” for Times<br />
Radio. He is Chairman<br />
of Triumph Motorcycles,<br />
Thatchers Cider and<br />
Argentex Group.<br />
He retired from the<br />
House of Lords in 2020.<br />
3
Why Guernsey?<br />
Whatever your reasons for considering relocation to Guernsey, this<br />
beautiful island, located within sight of the Normandy coast of France<br />
and just a 35-minute flight from the UK, offers a better life from so many<br />
perspectives. Living in Guernsey provides the opportunity to embrace<br />
a convenient and healthy work life balance, complemented by leisure<br />
opportunities around stunning coastal scenery.<br />
Whether you are thinking<br />
about your family’s wellbeing,<br />
have plans to sell<br />
your business, crave a<br />
more relaxed pace of life<br />
or quite simply want to<br />
live in a safe, secure and<br />
friendly environment,<br />
then Guernsey has so<br />
much to offer.<br />
Just a short distance<br />
from the UK and Europe,<br />
Guernsey is a beautiful<br />
island with a big heart.<br />
An absolute gem<br />
surrounded by stunning<br />
scenery, golden sandy<br />
beaches, captivating cliffs<br />
and crystal clear seas.<br />
4<br />
Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
Guernsey...<br />
working for you<br />
World-class financial<br />
and professional<br />
service providers in<br />
a well-regulated,<br />
internationally<br />
recognised and<br />
compliant jurisdiction<br />
Strong digital and<br />
telecommunications<br />
infrastructure for<br />
connectivity<br />
A base for leading<br />
private equity<br />
business and home<br />
to ‘The International<br />
Stock Exchange’<br />
Strong investor<br />
networks helping<br />
scale-up businesses<br />
and those bringing<br />
new business to<br />
the island<br />
Guernsey...<br />
less taxing for you<br />
No minimum<br />
revenue levels to<br />
gain residency<br />
Flat rate of 20%<br />
personal income tax<br />
and 0% income tax<br />
for most companies<br />
The ability for new<br />
residents buying an<br />
Open Market Part A<br />
home for £1.32M or<br />
more in their first year<br />
to enjoy an income<br />
tax cap of £50k per<br />
annum for up to<br />
4 years<br />
A tax regime<br />
compliant with<br />
OECD standards of<br />
information exchange<br />
Guernsey...<br />
a better life for you<br />
A family-orientated,<br />
friendly, safe and<br />
secure community<br />
Excellent education and<br />
healthcare systems<br />
Wide range of sports<br />
and outdoor activities<br />
available including<br />
golf, tennis, sailing<br />
and rugby<br />
Fresh air, amazing<br />
beaches, cliff walking<br />
and island-hopping<br />
experiences<br />
Ease of access to an<br />
Open Market Part A<br />
home, enabling you<br />
and your family to<br />
live and work in the<br />
island indefinitely<br />
5
Meet the team<br />
Locate Guernsey is a government-funded agency which is part of the Economic<br />
Development team of the States of Guernsey. Our purpose is to promote the<br />
island as a destination for relocation to wealthy individuals who would become<br />
Open Market residents and businesses with low footprint/high value and<br />
scalable attributes. We are a free resource, able to provide tailored guidance,<br />
information and introductions at any stage of the process, from initial enquiries<br />
and reconnaissance visits, throughout the relocation process and beyond,<br />
helping new residents and businesses to hit the ground running and establish<br />
their networks when they arrive.<br />
Jo Stoddart<br />
Director<br />
Jo has acquired extensive personal and professional<br />
experience of relocation having lived in Yorkshire,<br />
Paris, London, Jersey, and for the past 15 years,<br />
Guernsey. Following many years in Paris as a<br />
professional events’ organiser, Jo became involved<br />
in the property industry whilst living in Jersey<br />
and subsequently founded a successful pan-island<br />
relocation consultancy with offices in Guernsey<br />
and Jersey. Former Chair of the UK’s Association<br />
of Relocation Professionals, Jo joined Locate<br />
Guernsey in November 2018. Having discovered<br />
the benefits of Guernsey for her own family, Jo is<br />
a passionate ambassador for the island and enjoys<br />
helping potential new residents to discover how<br />
Guernsey could work for them, their families and<br />
their business interests.<br />
6<br />
Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
Richard Bellis<br />
Relationship<br />
Manager<br />
Richard returned to Guernsey in 2019 and joined<br />
the Locate Guernsey team in January <strong>2021</strong>. He has<br />
enjoyed a successful career in the financial services<br />
sector spanning over 30 years. He has held various<br />
senior roles with leading international financial<br />
services companies and most recently was Head<br />
of Asset Management for an international bank in<br />
the Cayman Islands. He has a wealth of first-hand<br />
experience of relocating having also held positions<br />
in London and Bermuda, in addition to posts in<br />
Guernsey. Whilst not “local”, Richard was educated<br />
at Elizabeth College here in Guernsey where he was<br />
a boarder for 13 years and he is fiercely proud of his<br />
adopted island home.<br />
Lily Prus<br />
Relationship<br />
Manager<br />
Lily is our most recent addition to the Locate<br />
Guernsey team, joining from the States of<br />
Guernsey’s Economic Development department<br />
where she was involved in numerous projects to<br />
support business and economic growth. She has<br />
worked within government since leaving school and<br />
as a result has extensive knowledge of government<br />
processes and procedures. Lily has lived in Guernsey<br />
her entire life because, in her words, why would<br />
she ever want to leave! She is very much looking<br />
forward to meeting and speaking with prospective<br />
relocators to provide support on all aspects of the<br />
relocation process and show off some of the many<br />
reasons she loves her island home.<br />
7
Guernsey and Covid<br />
Although Guernsey has had to live through two lockdowns, first in March 2020<br />
and then again in January <strong>2021</strong>, thanks to the strong leadership of our Public<br />
Health Team and our politicians, the island was the first place in the British<br />
Isles to be declared Covid-free at the end of <strong>May</strong> 2020. Following the second<br />
lockdown, the island was again deemed to be Covid free in March <strong>2021</strong>.<br />
During the months<br />
between the first and<br />
second lockdowns,<br />
the island enjoyed<br />
a gradual return to<br />
normality with schools,<br />
restaurants, bars, gyms<br />
etc. completely open for<br />
business. Residents were<br />
not required to wear<br />
masks or to be socially<br />
distanced and parties,<br />
weddings and funerals<br />
took place normally, as<br />
did Christmas and New<br />
Year’s celebrations. In late<br />
January <strong>2021</strong> four cases<br />
of Covid were identified<br />
in people who had no<br />
travel history or links to<br />
travellers and so the island<br />
was immediately put back<br />
into lockdown. It was<br />
later confirmed that these<br />
four cases had been of<br />
the Kent variant which<br />
was much more easily<br />
transmissible. However,<br />
due to the decisive action<br />
of the island’s government<br />
and the commitment<br />
of the local community,<br />
once again embracing<br />
its #guernseytogether<br />
mantra, we were able<br />
to return to normal life<br />
just eight weeks after<br />
the second lockdown<br />
was imposed.<br />
Throughout the<br />
pandemic, the goal of the<br />
Public Health team has<br />
been to protect islanders<br />
and keep the economy<br />
functioning. The island<br />
has established a rigorous<br />
test, track and trace<br />
system – travellers are<br />
required to self-isolate for<br />
14 days on arrival and this<br />
has helped to protect the<br />
general population from<br />
any cases brought here<br />
by in-coming travellers.<br />
Testing on arrival is<br />
mandatory and travellers<br />
are offered a second test<br />
on day 13. The period of<br />
self-isolation ends if the<br />
day 13 test is negative.<br />
However, anyone who<br />
does not wish to be<br />
tested on day 13 must<br />
remain in self-isolation<br />
for a total of 21 days.<br />
As Guernsey’s vaccination<br />
programme progresses,<br />
the hope is that selfisolation<br />
will no longer<br />
be required after 1st July.<br />
This will however depend<br />
on progress in the UK and<br />
neighbouring countries<br />
so please contact Locate<br />
Guernsey if you are<br />
planning to travel over so<br />
that we can provide you<br />
with the latest updates.<br />
8 Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
The role of Locate Guernsey<br />
The team at Locate Guernsey understands that any relocation is a significant<br />
undertaking and will offer support at any stage of your journey. Whether it<br />
is an idea you wish to explore, or you have plans needing our input or you<br />
have recently arrived on the island, we are here to help.<br />
Locate Guernsey offers tailored<br />
guidance at an early stage, aiming<br />
to provide a relationship service as<br />
any enquiry takes shape; help is<br />
available before, during and after any<br />
reconnaissance visits. Guidance is<br />
frequently provided in respect of:<br />
Living in the Open Market<br />
Establishing a business in Guernsey<br />
Immigration matters<br />
Registering for online services<br />
such as social security<br />
Education, sport, clubs and<br />
social organisations<br />
Practicalities, including driving<br />
licences, vehicle importation, pets<br />
Healthcare and insurance<br />
Population Management<br />
formalities<br />
Introductions to key civil servants<br />
and politicians<br />
Introductions to social and<br />
business groups and societies<br />
We are acutely aware that wealthy<br />
individuals and businesses have a<br />
choice of jurisdictions to consider<br />
and therefore work hard to ensure<br />
that Guernsey provides the very best<br />
first impression, thereafter doing<br />
whatever is necessary to help smooth<br />
and inform any relocation process.<br />
This may include putting together an<br />
itinerary to ensure any early visit is as<br />
productive and enjoyable as possible.<br />
Once you are here, the team will also<br />
help with settling in and frequently host<br />
social events which enable individuals<br />
to establish themselves in Guernsey<br />
and to build their personal networks.<br />
Guernsey is enhanced by the arrival<br />
of newcomers and on the States of<br />
Guernsey’s behalf, Locate Guernsey<br />
seeks to underline this by providing a<br />
single point of contact with practical<br />
help and guidance where it is needed.<br />
9
Tax<br />
As an independent, self-governing jurisdiction,<br />
Guernsey has developed its own attractive<br />
system of taxation for residents. The system<br />
is very straightforward and caps the amount<br />
of income tax payable by residents.<br />
Guernsey residents pay:<br />
0% Inheritance Tax<br />
0% Capital Gains Tax<br />
0% Wealth Tax<br />
0% VAT or Goods<br />
and Services Tax<br />
Personal income tax<br />
is charged at the flat<br />
rate of 20% with<br />
caps available<br />
The basis on which<br />
income tax is<br />
charged depends<br />
on the taxpayer’s<br />
residence status<br />
and whether they<br />
are “resident<br />
only” or “solely or<br />
principally resident”<br />
in Guernsey for<br />
tax purposes<br />
Tax residency<br />
categories are based<br />
on the number of<br />
days an individual<br />
spends on the island<br />
It is possible to cap<br />
exposure to income<br />
tax in Guernsey as an<br />
alternative to paying<br />
a flat rate of 20%<br />
The maximum tax liability for any individual who does not have Guernsey source<br />
income will be £130,000 per annum.<br />
For those who have both Guernsey and non-Guernsey source income (Guernsey<br />
bank interest does not count as Guernsey source income) the maximum tax liability<br />
is £260,000 per annum.<br />
Individuals who are “resident only” may elect to pay a “standard charge” which<br />
is currently set at £40,000 per annum.<br />
10 Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
With effect from<br />
1 January 2018, a tax cap<br />
of £50,000 per annum<br />
has been introduced for<br />
individuals in their first<br />
four years of residence<br />
subject to the conditions<br />
listed below.<br />
An individual must:<br />
Be principally<br />
resident in Guernsey<br />
Pay £50,000 or more<br />
in document duty<br />
for the purchase<br />
of an Open Market<br />
Part A property –<br />
at the current rates<br />
this equates to a<br />
property purchase<br />
of £1.32M or more<br />
Make the purchase<br />
either 12 months<br />
before or after<br />
the date of taking<br />
up residence<br />
in Guernsey<br />
Foreign and worldwide<br />
tax caps are not limited<br />
in duration and are<br />
applicable no matter<br />
how many years the<br />
individual has been<br />
solely or principally<br />
resident in Guernsey.<br />
Double tax treaty<br />
and pensions<br />
Under the terms of<br />
the Double Tax Treaty<br />
with the UK, pensions<br />
are only taxable in the<br />
taxpayer’s country of<br />
residence. Therefore,<br />
for individuals moving<br />
to Guernsey from the<br />
UK, their UK income tax<br />
liability will be replaced<br />
by a Guernsey income<br />
tax liability and the rate<br />
of tax will be 20%.<br />
IMPORTANT NOTE<br />
Please note that this<br />
information is a summary<br />
only and has been<br />
prepared for information<br />
purposes. Locate Guernsey<br />
does not provide tax, legal<br />
or accounting advice.<br />
You should consult your<br />
own advisors in relation<br />
to your personal situation.<br />
Locate Guernsey can<br />
put you in contact with<br />
Guernsey service providers<br />
if you would like more<br />
detailed information.<br />
11
Open Market<br />
property<br />
Relocation to Guernsey is very straightforward,<br />
thanks in part to our two tier property market.<br />
Homes are registered as being either on the Open<br />
Market or on the Local Market. Local Market<br />
homes are essentially reserved for those who are<br />
locally born, but it is the Open Market which is<br />
the key to residency for most new arrivals.<br />
Image courtesy<br />
of Livingroom<br />
Open Market properties<br />
may be occupied by<br />
individuals or families<br />
holding British passports<br />
or who have right of<br />
abode in the UK. Non-<br />
British passport holders<br />
who have been granted<br />
an Investor* visa or an<br />
Entrepreneur* visa may<br />
also live in an Open<br />
Market property (*further<br />
information about<br />
these visas is available<br />
on the Immigration<br />
page of this booklet).<br />
There is no minimum<br />
revenue level required<br />
to gain residency in<br />
Guernsey. The simple fact<br />
of occupying an Open<br />
Market Part A home<br />
gives residents the right<br />
to live and work on the<br />
island indefinitely.<br />
Open Market residents can<br />
work should they choose to.<br />
It is ideal for entrepreneurs<br />
seeking flexibility or the<br />
freedom to work for any<br />
employer**, for any length<br />
of time. Open Market<br />
Residents are not reliant<br />
on employment permits,<br />
which are frequently time<br />
limited. (**Entrepreneur<br />
and Investor visa holders<br />
may only work in the<br />
business for which the visa<br />
has been granted or in<br />
connection with managing<br />
their investments).<br />
Approximately 7% of<br />
Guernsey’s properties<br />
are on Guernsey’s Open<br />
Market Register. They can<br />
be found all across the<br />
island and are available to<br />
rent or purchase. However,<br />
Open Market property<br />
prices tend to be higher<br />
than Local Market prices.<br />
Local Market properties<br />
are available for local<br />
residents and employment<br />
permit holders. Individuals<br />
recruited to work on<br />
the island because their<br />
full-time post is deemed<br />
to be “essential” can do<br />
so where their employer<br />
secures an employment<br />
permit. This enables the<br />
permit holder to live<br />
in an Open or a Local<br />
Market property.<br />
Whatever your<br />
circumstances, please<br />
contact Locate Guernsey<br />
to discuss your individual<br />
needs – we can provide<br />
further information about<br />
Guernsey’s property<br />
markets as well as lists<br />
of local estate agents,<br />
advocates, property<br />
finders and surveyors.<br />
12 Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
Healthcare<br />
Guernsey has an excellent healthcare system employing best practice across its<br />
network of medical centres and the Princess Elizabeth Hospital (PEH). In 2020<br />
healthcare has been very much in the spotlight and our Public Health team<br />
have worked closely alongside the Civil Contingencies Authority to lead the<br />
island’s response to Covid 19 and develop a strategy suitable for the island.<br />
We were the first place in the UK to be Covid-free and have our own on-island<br />
testing facility. Our test, track and trace system is working well and public<br />
confidence in Guernsey healthcare is very high. Our Covid 19 vaccination<br />
programme is progressing well and many islanders are now fully vaccinated.<br />
Medical care in Guernsey<br />
is excellent although it<br />
is not part of the UK’s<br />
National Health Service.<br />
GP appointments are<br />
easily available and<br />
excellent specialist care is<br />
delivered via the island’s<br />
Medical Specialist Group.<br />
Healthcare is partly<br />
funded by Guernsey’s<br />
Employment and Social<br />
Security Committee<br />
with residents paying<br />
into an income-related<br />
contributions scheme.<br />
GP visits, A&E visits,<br />
Ambulance use, Dentists<br />
and physiotherapy<br />
requested by the GP are<br />
all delivered privately and<br />
referred to as “Primary<br />
Care”. A contribution<br />
towards the cost of a GP<br />
consultation is made by<br />
the Primary Care grant<br />
but the balance is paid by<br />
the patient (or by private<br />
medical insurance if they<br />
have subscribed to a<br />
suitable policy).<br />
Specialist care (also called<br />
“Secondary Care”) is<br />
provided by The Medical<br />
Specialist Group (MSG),<br />
a private practice of<br />
specialist consultants.<br />
The cost of treatment<br />
and hospitalisation for<br />
Secondary Care when<br />
referred by a GP or<br />
an MSG Consultant is<br />
covered by the States<br />
of Guernsey and this<br />
includes any treatment<br />
and care which may have<br />
to be delivered in the UK.<br />
The MSG also provides<br />
treatment that can be<br />
paid for by the patient,<br />
known as “private patient<br />
care”. The PEH has a<br />
private wing (the Victoria<br />
Wing) where private<br />
patients may elect to stay<br />
for in-patient treatment.<br />
Please speak to Locate<br />
Guernsey for further<br />
detailed information<br />
about healthcare.<br />
13
Setting up<br />
a business<br />
Establishing a business in Guernsey is a<br />
straightforward process and same day<br />
registration of a company is possible. With the<br />
majority of companies paying the standard<br />
corporate tax rate of 0%, establishing a<br />
business in Guernsey is an attractive option.<br />
One of the many advantages of doing<br />
business in Guernsey is the ease and<br />
speed with which decisions can be made<br />
and businesses established. Guernsey<br />
has a pro-business government with<br />
pragmatic and helpful regulators.<br />
Amongst other things,<br />
Guernsey offers:<br />
World-class financial, professional<br />
and legal services<br />
A well regulated, secure,<br />
internationally recognised<br />
and compliant jurisdiction<br />
Strong digital and<br />
telecommunications infrastructure<br />
as well as a Digital Greenhouse<br />
and start-up hub<br />
Leading jurisdiction for private<br />
equity and home to “The<br />
International Stock Exchange”<br />
Strong investor networks helping<br />
scale-up businesses<br />
Geographical proximity to the UK<br />
and being in the same time zone<br />
A wide range of commercial<br />
premises and serviced offices<br />
A highly skilled and professional<br />
work force<br />
Availability of employment<br />
permits allowing businesses<br />
to recruit specialist staff from<br />
off-island if required<br />
Active local branch of the IoD<br />
and the Chamber of Commerce<br />
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Locate Guernsey <strong>Spring</strong> <strong>Forum</strong> <strong>2021</strong>
There are three rates of tax on<br />
companies in Guernsey:<br />
Company Standard Rate – 0%<br />
(the majority of businesses)<br />
Company Intermediate Rate –<br />
10% (applicable to corporate<br />
income from banking, fiduciary,<br />
insurance, administration of<br />
controlled investments, provision<br />
of custody services and investment<br />
management activities to<br />
individual clients and others)<br />
Company Higher Rate – 20%<br />
(applicable to corporate income<br />
derived from a regulated utility,<br />
oil or gas importer or supplier,<br />
large retail business where<br />
company taxable profit is more<br />
than £500k and from land and<br />
buildings in Guernsey, property<br />
development and exploitation<br />
of land and others)<br />
Investment Fund vehicles may apply for<br />
exemption from tax in respect of income<br />
from sources outside Guernsey.<br />
Regulated entities are licensed by the<br />
Guernsey Financial Services Commission<br />
(GFSC) or the Guernsey Competition<br />
and Regulation Authority (GCRA).<br />
Both regulators are pragmatic and willing<br />
to discuss innovative business models.<br />
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Education<br />
As any parent who relocates with children will tell you, finding the right<br />
education solutions generally comes above any other consideration when<br />
seeking out a destination for relocation. It is therefore comforting to know<br />
that Guernsey’s education system offers excellence and choice.<br />
Guernsey’s Education<br />
system is similar to the<br />
UK with pupils allocated<br />
a primary school at the<br />
beginning of the school<br />
year in which they reach<br />
their fifth birthday.<br />
State primary school<br />
places are allocated by<br />
catchment area and<br />
schools are at the heart<br />
of parish communities.<br />
Children up to the<br />
age of 18 have access<br />
to free schooling via<br />
the state system and<br />
additionally three<br />
independent colleges<br />
offer first class<br />
private education.<br />
All three to four year<br />
olds are entitled<br />
to free pre-school<br />
provision for up to<br />
15 hours per week,<br />
38 weeks a year<br />
during term time.<br />
Children remain in<br />
primary education<br />
until they are<br />
11 years old.<br />
Thereafter the<br />
island’s mainstream<br />
secondary schools<br />
accept all-ability year<br />
groups, allowing<br />
all children to be<br />
provided with<br />
similar opportunities<br />
at each school.<br />
Guernsey follows the<br />
same curriculum as the<br />
UK through Key Stages<br />
1 – 4 and pupils sit GCSE<br />
and A-Levels at 16 and 18<br />
years of age respectively;<br />
additionally the current<br />
sixth form centre also<br />
provides the International<br />
Baccalaureate. More than<br />
80% of students decide<br />
to stay in education after<br />
Year 11. The College<br />
of Further Education<br />
and Sixth Form Centres<br />
within the secondary<br />
schools are good<br />
options for continued<br />
learning, and there are<br />
plenty of opportunities<br />
to learn new skills via<br />
apprenticeship schemes<br />
and training courses.<br />
Guernsey’s schools<br />
boast excellent sporting<br />
facilities and offer many<br />
opportunities for children<br />
to participate in sporting<br />
and other activities,<br />
both on and off the<br />
water, at a competitive<br />
and recreational level,<br />
which helps to maintain<br />
Guernsey’s reputation<br />
as a safe, familyfriendly<br />
community<br />
encouraging children<br />
to embrace healthy<br />
activity from a grass<br />
roots level and beyond.<br />
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Immigration<br />
Holders of passports other than British passports seeking to live in Guernsey on<br />
the Open Market may apply for an Investor or Entrepreneur visa and ultimately<br />
may apply for “indefinite leave to remain” in Guernsey. The rules in Guernsey<br />
are slightly different to those of the UK although further changes are expected<br />
in due course.<br />
Investor visa<br />
This category of visa is<br />
for individuals looking<br />
to secure residency by<br />
making an investment<br />
into Guernsey’s economy.<br />
Currently*, applicants<br />
need to have the<br />
equivalent of at least<br />
£1m in their name in a<br />
bank account and be<br />
prepared to invest no<br />
less than £750k in a way<br />
that is of ‘benefit to the<br />
Bailiwick of Guernsey’.<br />
However, it is expected<br />
that these rules may<br />
change so please do<br />
speak to Locate Guernsey<br />
for further information.<br />
Successful applicants<br />
would be able to rent<br />
or buy an Open Market<br />
Part A home in the island<br />
to live in.<br />
For the main applicant,<br />
employment is limited<br />
to transacting business<br />
in connection with their<br />
investments but there<br />
are no restrictions on<br />
the type of work which<br />
any dependent may do.<br />
Entrepreneur visa<br />
This is for individuals<br />
looking to secure<br />
residency by taking an<br />
active role in the running<br />
of a business in Guernsey.<br />
Applicants must:<br />
have at least £200k<br />
in their name in a<br />
bank account and be<br />
prepared either to<br />
invest this sum into<br />
an existing Guernsey<br />
business or create<br />
a new Guernsey<br />
business investing a<br />
minimum of £200k;<br />
have a controlling<br />
or equal interest in<br />
the business; and<br />
demonstrate the<br />
economic value<br />
of the business<br />
for Guernsey<br />
As with the Investor visa<br />
programme, successful<br />
applicants would be able<br />
to rent or buy an Open<br />
Market Part A home to<br />
live in.<br />
For the main applicant,<br />
employment is limited to<br />
the company for which<br />
the Entrepreneur visa is<br />
granted, but there are<br />
no restrictions on the<br />
type of work which any<br />
dependent may do.<br />
Immigration permissions<br />
are granted by the<br />
Guernsey Immigration<br />
Service and would usually<br />
allow the applicant and<br />
their dependents to live<br />
in Guernsey for two<br />
years, with the option<br />
of applying for a further<br />
three years under the<br />
same scheme.<br />
At the end of 5 years,<br />
applicants for either<br />
the Investor visa or the<br />
Entrepreneur visa would<br />
be able to apply for<br />
indefinite leave to remain.<br />
*Please note that the<br />
island’s Immigration<br />
Rules are currently<br />
under review following<br />
changes in the UK.<br />
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Our island parishes<br />
Guernsey has 10 parishes, each with their own unique character and a wealth<br />
of desirable properties to choose from.<br />
1 St Peter Port<br />
The island’s capital<br />
2 St Martin<br />
Boasts spectacular cliff<br />
paths and sandy coves<br />
3 Castel<br />
The finest beaches<br />
4 Vale<br />
Has the largest area<br />
of common land<br />
4<br />
10 4<br />
10<br />
3<br />
1<br />
5<br />
6<br />
9<br />
8<br />
5<br />
8<br />
7<br />
2<br />
5 St Peter<br />
A rural parish<br />
6 St Saviour<br />
Rolling countryside<br />
and quiet lanes<br />
7 Forest<br />
The highest parish<br />
8 Torteval<br />
A rugged and<br />
rural parish<br />
9 St Andrew<br />
The only parish that<br />
doesn’t border the sea<br />
10 St Sampson<br />
Guernsey’s second<br />
largest town<br />
Follow us. Search: LocateGuernsey<br />
+44 (0)1481 220011<br />
enquiries@locateguernsey.com<br />
locateguernsey.com<br />
This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice.<br />
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No liability is accepted for any direct, indirect or consequential loss arising from the use of this document and the same is specifically excluded.