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Whether you're moving for work, lifestyle, or a fresh start, this charming island in the English Channel offers an exceptional quality of life, stunning coastal scenery, and a welcoming community.
In this guide, we’ll walk you through everything you need to know about relocating to Guernsey from a personal tax perspective, including tax residency, income tax, special tax regimes and tax return obligations.
GTC recommend that you organize your affairs in good time to get ahead and make the most of favorable tax treatment while making sure you’re meeting your tax return obligations.
if you spend more than 181 days in Guernsey during the tax year.
if you spend more than 90 days in Guernsey during the tax year and 730 days during the four previous tax year.
if you are a citizen of Hungary unless you have no permanent home in Hungary during the tax year.
if you are a Spain national who relocated to a tax haven less than five years ago.
if your ties are located in Mexico and 50% of your income arising in Mexico during the tax year.
if you are an EEA citizen and you are present in Hungary on more than 182 days during the tax year.
if you spend more than 181 days in Guernsey during the tax year.
if you are registered with the Italian resident population.
if you spend more than 90 days in Guernsey during the tax year and 730 days during the four previous tax year.
if you are a citizen of Hungary unless you have no permanent home in Hungary during the tax year.
if you are a Spain national who relocated to a tax haven less than five years ago.
if you are an EEA citizen and you are present in Hungary on more than 182 days during the tax year.
Providing that you are considered resident only, you can elect to pay a standard charge of £40,000 which covers tax on foreign incomes and gains and Guernsey sourced incomes up to £200,000. Guernsey source income in excess of £200,000 will be charged at 20%. You are free to remit the foreign incomes and gains to Guernsey.
* Guernsey can be a very tax efficient place to live for expats & nomads and as such, Global Tax Consulting recommends seeking personalized tax planning advice to take advantage of the special tax regime.
If you receive incomes overseas while you are living in Guernsey, you may find the source country, as a starting point, continues to tax the income which may cause double taxation unless you are using special tax regime.
Double taxation agreements can be used to mitigate double taxation and receive tax free income. As such, the more double taxation agreements a country has, the better, as agreements will ensure you’re not taxed twice and even better, ensure your income is tax free.
At present, Guernsey has 26 double taxation agreements signed.
