Guernsey Registry

The Company Registrar has reviewed the current classification of companies for annual validation to ensure its compliance with the States Resolution in 2007. 

The review was undertaken as the previous Companies (Registrar) Fees) Regulations allowed scope for interpretation for businesses to determine which fee level applies and has caused some uncertainty in industry.  This has meant that similar companies have been classified in different categories and as a result pay different fees.  The Company Registrar, under Section 535 of the Companies (Guernsey) Law, 2008, has therefore issued revised Regulations on behalf of the Commerce and Employment Department which provides the necessary clarification and ensures full compliance with the original States Resolution. 

To ensure compliance with the States Resolution the Registrar has clarified the definition of “financial product companies” to ensure that all companies, registered in Guernsey,which are administered by any person or company licensed by the Guernsey Financial Services Commission are included. During the 2011 Annual Validation process companies will be required to confirm at that validation whether or not the company’s registered office, resident agent or directors are provided by an entity regulated by the GFSC.

There is no change to company fees which remain at the level set out in the States Resolution 2007. Only companies that have to amend their classification in order to comply with the regulations will be paying a different annual validation fee in 2011 and beyond.

It is the responsibility of the companies, and their administrators, to ensure that they comply with the regulations.  Any company that has to amend its classification in order to comply will not be charged for doing so.

The new Regulations will apply with effect from 01/07/2010 and can be downloaded from the right hand side of this page.