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Guernsey Banking License

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Guernsey Banking License: GFSC Authorisation for Deposit-Taking Institutions

The Guernsey Financial Services Commission (GFSC) regulates banking under the Banking Supervision (Bailiwick of Guernsey) Law 2020. Guernsey is a British Crown Dependency in the English Channel with a long history as a premier offshore financial centre, managing substantial private wealth and institutional assets for international clients. The island operates outside both the United Kingdom and the European Union, governed by its own constitutional framework and legislative assembly.

The GFSC is widely regarded as a high-quality, risk-based regulator. This reputation supports the reputational credibility of Guernsey banking licences in international markets where counterparties and correspondent banks pay close attention to the supervisory standing of the licensing jurisdiction.

Licence Categories

A Full Deposit-Taking Licence permits unrestricted deposit-taking and full banking operations. A Restricted Deposit-Taking Licence limits deposit-taking to affiliated or connected persons only.

Minimum Capital

GBP 5 million minimum for a full deposit-taking licence. The GFSC has discretion to require higher capital based on the nature and scale of the proposed business.

Principal Persons

At least two principal persons equivalent to senior management are required. Each must pass the GFSC fit and proper assessment covering competence, integrity, and financial soundness.

Local Presence

A physical office in Guernsey with locally resident management is required. The GFSC expects genuine substance rather than a nominal registered address.

Business Plan and AML/CFT

A three-year business plan with capital and liquidity projections is required alongside an AML/CFT framework compliant with the GFSC Handbook for Financial Services Businesses.

Tax Position

Guernsey has a corporate tax rate of 0% on most profits, including banking income. There is no capital gains tax, inheritance tax, or VAT in Guernsey.

Neptune Fiduciaries: Guernsey Banking Licence Support

Neptune Fiduciaries guides clients through the GFSC banking licence application process from pre-application engagement with the Commission through to post-authorisation compliance, including business plan drafting, director vetting, and AML/CFT programme design.

Get in Touch

Contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com or visit our Contact Us page.

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