The Island of Guernsey (or officially named the Bailiwick of Guernsey) is located in the English Channel near the French cost of Normandy. However, Guernsey is still under the English Crown dependency and therefore has a very business oriented legislation because based on the English model. The laws there are much more flexible and modern than in the European Union which is a strong asset and motivates many foreign investors to move their business into this jurisdiction. Finally, this offshore place (well known by people involved in the offshore business) is considered as being part of the European Union but all European laws are not applicable there due to its special status. For instance, most of the financial ordinances are usually not put in place.
This offshore jurisdiction will allow you (if you are not an European Citizen) to open an offshore bank account or to incorporate an offshore company with a huge discretion by guaranteeing the non disclosure of your identity to your country of residence in addition to the bank secrecy. Moreover, you will benefit from a very friendly tax legislation and you will not pay any income tax if you become a resident of the Island. Finally, the corporate tax profit rate to be paid is negotiable directly with the local tax authorities and will never exceed 30% of your profit. This tax system is comparable with the one used in Switzerland.
At FCBA Offshore Ltd, we do recommend to our clients to open an offshore bank account or to incorporate an offshore company in Guernsey to people willing to have a very competitive European company ie with less tax obligation than a standard onshore company incorporated in the Union. But of course, this offshore jurisdiction is more to be recommended for non-European citizens willing to open an offshore bank account or to incorporate an offshore company within the European Union.
Finally, be aware that the initial deposit of your offshore bank account required by local banks can be quite high and therefore you must have it at your disposal before starting any business in there.