Regarded as a world leading financial centre, Guernsey’s legal and regulatory framework continues to evolve providing an ideal platform for businesses to deliver specialised financial services to a global client base.
A dependency of the British Crown, but with its own legislature, Guernsey does not form part of the United Kingdom and enjoys autonomy in tax and regulatory matters. Although not a member of the European Union, the Island enjoys a special relationship with the EU. Guernsey covers approximately 24 square miles and is situated in the Gulf of St Malo, 60 miles southwest of Britain and approximately 30 miles west of Northern France. It has a population of just over 60,000 people.
The Island’s time zone and proximity to major European finance centres provide our clients with the ability to transact on a global basis from the Island. We are serviced by some of the world’s largest and most respectable banks, accountancy practices and legal teams. Our political system is stable and the government is open for business. Standard and Poor’s long-term credit rating for Guernsey is AA-. We are well regulated with a mature legal system and recognised as Compliant from the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes.
Guernsey is an attractive jurisdiction with a relaxed life style, mild climate and entrepreneurial spirit, lending itself as an ideal location for both individuals and corporates to structure or relocate their financial affairs. It has frequent air links to London and other U.K. airports. The Island has no capital gains, inheritance or wealth taxes and neither does it have VAT. There is a flat standard rate of income tax for Guernsey resident individuals of 20% with tax capping for higher earners in certain circumstances.
The NSM team in Guernsey is diverse, highly motivated and professionally qualified in tax, trust, accounting and compliance. We recognise that each client is unique, and we pride ourselves on delivering solutions tailored to our clients’ needs.
With a significant proportion of our existing and new private client work stemming from the Middle East, NSM took the decision to open an office in the region.
In 2019 a representative office was established in the heart of Dubai’s financial district, the Dubai International Financial Centre. This enables NSM to work closely with the financial centre’s large number of professional intermediaries and financial institutions, whilst providing services to our GCC clients from our Guernsey office.
As a key financial hub in the Middle East our office in the UAE helps us to serve our clients in the jurisdictions where they live and do business. Our office in Dubai provides a conduit to services provided from our head office in Guernsey.