Savills Portugal

With stunning coastline and countryside, a wealth of history and intriguing culture, Guernsey is a beautiful, cosmopolitan place to live (see 10 things you might not know about Guernsey)

There is much to value about island life here, including an excellent education system and a variety of leisure pursuits on offer, but those who live in Guernsey particularly cherish the sense of community and the feeling of safety that comes with it. The island is big enough that there are always new people to meet but you are never far away from someone you know.

Guernsey is self-governing and has been put on the global stage due to its acknowledged competent handling of the coronavirus pandemic.

The experience of lockdown has caused many to reassess their work-life balance with a surge in activity in the Guernsey property market. According to the States of Guernsey’s Q1 Quarterly Residential Property Prices bulletin, issued in May 2021, the Open Market recorded its best year since 2007 at the end of 2020, despite travel restrictions in place during that time.

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Savills website traffic also points to an uptick in interest from the mainland in property on the island. Between January and July there was a 55 per cent increase in web traffic from the UK, when compared with the same period last year.

It’s too early to tell whether this uptick in web traffic will result in a significant increase in people moving to Guernsey. But if you are considering making the move, here’s what you need to know:

Buying property on the island differs slightly from mainland transactions; the island has two property markets – Local and Open – and restrictions apply to occupancy, rather than ownership.
In simple terms, the purchase of an Open Market Property is often the ‘route in’ to establishing residency in Guernsey. The newly created Entrepreneur Visa and the Investor Visa also provide a route to residency for individuals who are currently resident outside of the UK's common travel area.

Once an Open Market address is identified it’s a case of making a straightforward application for an Open Market Resident Certificate that can also accommodate your immediate and extended family. It’s as simple as that; there are no wealth tests, governmental assessments to meet and no minimum income requirement to reside in Guernsey.

Anyone living in an Open Market property has the right to live and work on the island indefinitely with no minimum revenue requirement.
For those buying an Open Market property with a value of £1.32 million or above within the 12 months immediately before their relocation, or within the first 12 months of residence in Guernsey, will qualify for a tax cap on their worldwide income of £50,000 per year for the first four years of residence.
As an independent, self-governing jurisdiction, Guernsey has developed its own system of taxation for its residents. Guernsey does not levy capital gains tax, inheritance or wealth tax, VAT or goods and services tax.
The Island is in the top tier of Offshore Financial Centres and has deliberately positioned itself as a well regulated and cooperative offshore jurisdiction.

Guernsey is just 25 minutes commute from UK mainland with regular scheduled flights and access by private plane or helicopter second to none. Complete with high quality restaurants, rustic coastline and breath-taking beaches, Guernsey boasts one of Europe’s most attractive harbour towns and a high-powered financial districts without the downsides of commuting or inner city living.