Political Stability: Guernsey boasts a rich history of political and financial stability. Its government structure is accessible, and decision-makers are easily reachable. The business environment benefits from a strong financial and professional infrastructure.
For small to medium-sized companies seeking global expansion, Guernsey offers an ideal setting with its ease of business establishment, convenient time zone, absence of language barriers, top-tier service providers, and an approachable and pragmatic regulatory framework.
Legal Framework: Guernsey takes pride in its internationally recognized regulatory system, known for its adaptability and suitability in a global economy. Over the past five decades, Guernsey has evolved into a premier Finance Centre, offering a wide range of world-class financial products and services to a global clientele.
Guernsey’s legal system has historical roots in Norman (French) customary law, which has evolved over time. Recent developments have made the legal framework more statute-based, incorporating concepts and precedents from UK statute and common law.
Technology Infrastructure: Guernsey is equipped with essential infrastructure for global market access. A new £1 billion data center is in development, and the island benefits from seven fiber optic cables connecting it to the UK and France, with two more currently underway. High-speed 4G mobile technology is already being implemented, and a smartphone mobile payments system is on the horizon.
Guernsey’s telecommunications sector provides robust, high-capacity links to global networks and fiber optic-based high-speed internet connectivity. English is the native language, and the island’s proximity to the European mainland ensures representation of major European languages.
Social and Tourism: Guernsey, the largest of the Channel Islands within the Bailiwick of Guernsey (which includes Alderney, Herm, and Sark), offers a unique blend of history, heritage, and captivating Sister Islands. The island attracts over 300,000 visitors annually, thanks to its diverse activities and attractions, including festivals like The Channel Island Heritage Festival, which bolsters year-round tourism.
Economic Landscape: Guernsey’s financial industry is the cornerstone of its economy, hosting numerous financial services businesses specializing in banking, insurance, investment, and trust services. The sector ranges from global giants to niche independent operators, employing approximately 24% of the island’s workforce and generating substantial remuneration and profits.
While manufacturing hasn’t been a dominant sector recently, the government recognizes the importance of a balanced economy and has zoned land for industrial use. This has attracted technology-based industries and electronic equipment fabricators to the island.
Environmental Initiatives: Guernsey is actively positioning itself as a hub for green and impact investment. The launch of the world’s first regulated Green Fund product in 2021, along with the Green Fund Rules, demonstrates Guernsey’s commitment to environmentally responsible investing, aiding clients in navigating this complex area.
In line with global climate change efforts, Guernsey has committed to legally binding “net-zero” greenhouse gas emissions by 2050. The Climate Change Policy and Action Plan, approved by the States of Guernsey, outline the framework for achieving this goal, reinforcing the island’s dedication to combating climate change.