Guernsey

Bailiwick of Guernsey is a British Crown Dependency, including multiple islands, its the second largest of the Channel islands, falling right behind Jersey. It has 10 parishes and 3 islands having their own independent governing structures. As with the rest of Bailiwicks it is not a part of the Europe Union directly, but true some agreements that the United Kingdom has made.  The law system comes from the common french law, but it has been strictly modified by the English common law.
In order to keep on working as a tax heaven, Guernsey has been changing its laws in the past years. The law may even allow to leave both offshore and onshore companies tax free.

Economy 

The financial sector account for most of the Guernsey's yearly income. Especially services such as banking, fund management and insurance. Tourism, manufacturing and export of fresh goods such as tomatoes and flowers make up a part of the remaining economy. In order to remain tax free on corporate income and to company with Europe Union, the local laws had to be changed quite drastically.

Directors and shareholders

The minimum number of directors for a company in  Guernsey is one, and he/she may be of any nationality and may reside anywhere in the world. The minimum number of shareholders are two and they may also be of any nationality and may reside any where in the world.

Incorporation

The usual incorporation times range form 5 to 8 business days. The secretary of the company is obligatory although he/she may be of any nationality and may also reside anywhere in the world. A registered office is also necessary in order to incorporate in Guernsey. The rules for creating company name are:

• The company may have name in any language as long as it uses Latin alphabet.
• The company may not have a name that is exact or similar to a name of a company that has already been incorporated.
• Names that suggest any illegal activities are not permitted
• Any of the following names are not allowed: Guernsey, Bank, Building Society, Savings, Loans, Insurance, Assurance, Reinsurance, Chamber of Commerce, Council, Co-operative, Trust, Trustees, Finance, International or their foreign language equivalents require consent or a license.
• A suffix that denotes limited liability either in English or french must bee added.

Company upkeep

In order to maintain a company in Guernsey a yearly fee of 600 Euro must be paid and annual return must be filed. 

Over all any of the Channel islands are a great option for incorporation as they are in close proximity to the United Kingdom and Europe. And having the British pound as the main currency with no exchange controls, is a great option for almost any business.