Moving to Guernsey for Work
Discover everything you need to know about relocating to Guernsey for a new role.
It’s common for workers to relocate if they work in a particularly specialist field or want to reach new heights within their career. In some circumstances, an individual may also move simply because they want to enjoy what a new city or country has to offer.
For individuals working in the UK or mainland Europe, the Channel Islands represent a popular alternative for those that want to take advantage of the benefits they can provide.
Below we explain everything you need to know about moving to Guernsey for work, including various guidelines that may impact your move.
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Moving to Guernsey for Work
The Channel Islands remains a top destination for relocation due to the numerous advantages it is able to provide.
Guernsey has a population of around 63,000 and is home to a number of different businesses, retailers, tourist hotspots and thus, career opportunities. For those working in more specialist fields, Guernsey is the opportunity to deliver this specialist service in a vastly different setting that offers a change of pace, stunning vistas and a completely different feel to the majority of ‘metropolitan’ areas.
Here is everything you need to know about moving to Guernsey for work:
Moving to Guernsey: Tax and Money
As a self-governed Crown Dependency, Guernsey is able to set its own financial and legal systems. This means that tax operates slightly differently than it does in the UK.
The personal tax rate for an individual in Guernsey is 20%, following the deduction of any personal allowance or relief. There is no minimum amount of tax contribution required to become a resident of Guernsey.
If you’re a new resident of Guernsey, there is a temporary tax cap of £50,000 per annum, provided that you meet the following criteria:
You were a non-Guernsey resident in the 3 years before you moved to the island
You have purchased an open market property twelves prior or after arriving on the island and paid at least £50,000 in document duty.
Company tax works slightly differently and there are three tax rates. The base rate for most companies is 0%. There’s a 10% rate for financial businesses such as those in banking, regulated fiduciary or insurance. Finally, there’s a 20% rate on any activities related to utilities or income from owning property in Guernsey.
Moving to Guernsey: Cost of Living
According to Numbeo, the cost of living in Guernsey is 16% higher than the UK, which takes into account things such as groceries, average prices in restaurants and other everyday matters.
Where the island truly differs is in the property prices. Much like its sister island Jersey, space in Guernsey is at a premium, which has translated to higher property prices. The average property on the island is around £493,000 – much higher than the UK average and more akin with London prices.
For those buying property on the island, there are two categories: the Local Market and the Open Market. Most homes on the island are Local Market, which means only qualified residents or licence holders are able to purchase them.
Open Market properties, on the other hand, can be purchased by anyone that has the right to reside in the UK or an EU member state. As you’d imagine, there are fewer Open Market properties available and this status is generally reserved for larger, more expensive properties on the island.
Moving to Guernsey for Work: Employment
If you’re moving to Guernsey for work, whether you’re looking to be self-employed or working for an employer, you must have a resident certificate or an employment permit (sometimes referred to as a ‘right to work’ document).
When you start your new role, you’re required to show your permit to your employer and they’ll have a copy on their records.
Every person working in Guernsey also has to inform the Social Security board and register with the island’s Revenue Service. Upon your registration, you’re given a tax number and coding notice while your employer will also receive a copy.
Moving to Guernsey: Salaries
While the property market is more expensive than the UK, the tax implications and higher salaries offer multiple benefits for Guernsey residents.
The island is affluent and salaries are much higher than the UK – the average salary is around £64,510 as opposed to the UK’s £38,000.
Guernsey is recognised for the strength of its financial and tech sectors, with a huge selection of positions available in roles such as fund and trust management, banking, accountancy and compliance.
Want to know more about the relocation process for Guernsey? Click here.
Supporting You at Every Step
We’ve built our reputation on one basis – a people-first approach that focuses on culture and ability.
For candidates that need additional support, we’re able to prepare you for the entire application process. Whether you need help with your job search or preparing for an interview, we make sure that you’re always prepared for the next step in your application.
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