Jonathan Anderson January 5 2023 Relocating to Guernsey: benefits and challenges Ogier | Private Client & Offshore Services - Guernsey Jonathan Anderson Private Client & Offshore Services The traditional arguments made for relocating to Guernsey – from the point of view either of a family or a business – used to revolve around unspoilt beaches, exceptional local waters, great restaurants, golf courses and the 20% top rate of tax. The close proximity between the home and the beach, the absence of capital gains or inheritance taxes and an enviable work-life balance are still key drivers both for inward investment and decisions by high net-worth individuals, but today, the reasons for relocation to the island go much further than tax and lifestyle.The underlying message is that Guernsey is not, and has not been for many years, an offshore retirement community. Entrepreneurs make up an increasing proportion of the new arrivals into the island. The growing trend of high net-worth individuals and businesses relocating to Guernsey is a mutually beneficial situation. New residents and new firms benefit from Guernsey's work-life balance, its low-tax status, the high standard of health and education services, and from the travel, digital and professional services infrastructure. The island itself benefits not just from the inward investment, but also from innovation and economic activity driven by new people, new businesses and new ideas.But the process of relocation is not without its complexities, such as finding a home (for new residents) and premises (for new firms), navigating through Guernsey's property transaction process, and potentially the planning process too.For further information on this topic please contact Jonathan Anderson at Ogier by telephone (+44 1481 721672) or email ([email protected]). The Ogier website can be accessed at www.ogier.com.