Simply by living in Guernsey, people are said to enjoy life more and feel better about themselves. The island offers that precious balance between a safe environment, which brings the good things in life conveniently to hand, and immense corporate capability, so what matters to you is delivered. As a British Crown Dependency, Guernsey has been a self-governing jurisdiction for over 800 years – the island has its own independent government, parliament and judiciary which allows it to set its own rates of tax and shape its own legislation to help business flourish.
Guernsey is unique in that it maintains two property markets, one Local Market for its local population as well as for those who come because their employer needs their labour and skills. The other is an Open Market where homes are a little more exclusive and can cost more, but the benefits of moving to the island, both in terms of tax and lifestyle, more than make up for it. For example, an Open Market Part A property purchased for more than £1.32 million within the first 12 months of residence would entitle the buyer to a tax cap of £50,000 per year for up to four years*. A family living in an Open Market Part A home, whether they rent or buy, can live and work in Guernsey indefinitely. Plus, there are no hoops to jump through – anyone with the right to live in the UK or an EEA member country can move to immediately occupy an Open Market home in Guernsey.
Taxation in Guernsey is straight-forward. Guernsey imposes no inheritance, capital gains, wealth, gift or estate tax, and there is no VAT. Personal income, however, is taxed at a flat rate of just 20% and caps apply. Warmer temperatures than mainland UK and 29 miles of impressive and varied coastline await. Guernsey offers many watersports including kayaking, surfing, diving, windsurfing, kite-boarding and sailing, to name but a few. There are plenty of land-based activities too, and most cater to all ages, allowing parents a little downtime, or exciting days out together for adventurous families – all happily and safely. As Brexit uncertainty continues, just a short distance away, quietly and calmly, Guernsey continues to build on its strong and stable position. This makes it an increasingly attractive place to live, genuinely offering a better life for you and your family. (*Subject to conditions)