Guernsey:
Establishing A Business In Guernsey - Finance
29 January 1999
KPMG
To print this article, all you need is to be registered or login on Mondaq.com.
The shares of some Guernsey companies, mainly investment companies, are listed on the International Stock Exchange and local over-the-counter markets exist for trading in other shares. Considerable funds are available locally for venture capital and other investment opportunities. Once operational, it could be expected that a Guernsey-based enterprise would be capable of funding much of its own expansion out of higher levels of profit that will be retained. The effective tax deferral available to an increasingly profitable business from the preceding year basis of assessment to income tax will also assist the company's cash flow (see chapter 9 on taxation).
Bank borrowing is the normal form of external funding. The large British clearing banks are represented and many substantial overseas banks have also established in the Island. As Guernsey's currency is Sterling, rates of interest are the same as those prevailing in the UK. No investment incentives or grants are provided by the States of Guernsey nor is there any regional development aid available.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Brussels considers extending the Taxonomy Regulation to include social objectives like human rights. The implications – and complications – are huge...
It is for the board of directors to decide whether to take into account climate change risks when exercising their decision-making duties, not for the court to require it, a ruling has confirmed.
On the 28th February 2024, the European Council failed to reach an agreement on the final draft of the EU's proposed Corporate Sustainability Due Diligence Directive...
On 5 October 2023, The European Council adopted the Green Bond regulation, creating The European Green Bond Standard (EU-GBS) and setting new measures to reduce greenwashing.
FREE News Alerts
Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.