Guernsey Finance Funding
Following the States of Guernsey decision in March 2009, the Guernsey Finance LBG (Levy) (Guernsey) Law, 2010 came into force on 9 November 2010.
This new law introduced a charge payable each calendar year for any company or person who is licensed, at the commencement of the calendar year or who becomes licensed in the course of that year by the Guernsey Financial Services Commission.
The purpose of the levy is to finance (either in whole or in part) the work carried out by Guernsey Finance LBG.
Guernsey Finance LBG is a joint industry and government initiative, whose role it is to defend the island's long-term reputation and promote it as a centre of excellence in financial services.
Licensed entities have been paying this levy since 2010. However, new licenses are being granted by the Guernsey Financial Services Commission all the time. In order to make a submission and pay the levy due, all licensed entities need to have a Registry GFF reference number.
Newly licensed entities will receive GFF reference numbers by post (to the registered office) in December of each year.
If you already have a GFF reference number but have mislaid it, please call 01481 743800 to request a copy.
The fees for 2017 are as follows:
- £110 per FTE (Full Time Equivalent employee, see Frequently Asked Questions below for more information, and how to calculate)
- Fees are capped at 150 FTE
- £250 per month late filing fee for submissions received after 31st January.