Business Expansions/Start-up ideas for 2023 - You should do business in Guernsey for 2023!

Date
12 December 2022
Category
Guides & Helpful Hints
Author
Signature Acquisitions

Everyone is looking for new business expansions and or start-up ideas for 2023 to improve how they can do or will be doing business, and you should do business in Guernsey for 2023!

Guernsey is an ideal location to look into regarding your business plan for 2023; be it starting up a new business or expanding and moving an existing one to a new location to make the business more efficient and profitable than it is currently. Guernsey is an ideal location to expand into or start-up in!

Location

Located between the UK and France, Guernsey is a short plane ride away from some of the major business hubs in Europe, making the location ideal. Not only is its location ideal, but Guernsey is also standing on its own against other business hubs on the global stage in many sectors such as finance and eGaming.

Business Benefits

With costs flying up every penny counts within the business world and especially where costs can be reduced as well as where is the best investment of money to be spent. A jurisdiction like Guernsey has some amazing opportunities when it comes to the ability to cut costs. Here are just a few of those costs you’ll cut moving or starting your business in Guernsey. Guernsey like the Isle of Man and Jersey is a Crown Dependency meaning they can make their laws and tax decisions while still holding close connections to the United Kingdom. This has enabled them to create tax reductions and incentives when it comes to attracting business to the Island:

· No separate corporation taxes

· No capital gains

· No Capital Gain Tax

· Income Tax around 20% flat rate

· No value-added or general withholding taxes

· No stamp duty is chargeable in Guernsey on the issue, transfer, or redemption of shares

· No wealth taxes

· No inheritance, estate, or gift taxes

· No VAT or sales taxes

There are however several stipulations to gain the benefits of having your business based in Guernsey. Companies that are based in Guernsey must have a registered office address in Guernsey. They will also need to have at least one director of the company however they don’t need to be Guernsey residents themselves. However, the company does need a resident agent who is a resident of Guernsey or a CSP, there are some exceptions to this, however. If the company is on the stock exchange, an investment company, supervised company, and states trading companies, (the Guernsey registry office has further details on these https://bit.ly/3Pbvz8m).

If you are looking for new expansion opportunities for 2023 Guernsey should be in your plan!