A new turn-key service is aiming to make it easier and cheaper to start a business in Guernsey.
Company in a Box claims it will make it “quick, easy and cost-effective” to set up a company here, as well as simplifying things for business owners who may not understand the complexities.
“Whether it’s launching a first venture, turning a side-project into a business, or formalising a freelance practice, we’re built for Guernsey residents who want a smooth, stress-free start,” a spokesperson said.
Lower costs
Guernsey has stricter rules than the UK about setting up companies, because of its status as a finance centre, but this means setup costs can be dozens or even hundreds of times as much.
Costs in the UK start from as low as £15, while in Guernsey the cost can be over £3,000.
While Company in a Box won’t be able to match the lowest UK prices, it will offer packages starting at £1,000.
This includes two-day company setup, appointment of a director and shareholder, and getting the business owner a ‘person registration number’ – a legal requirement.
Gap in the market
Company in a Box was set up by Artemis Trustees, after the firm noticed a gap in the market.
The service is designed for “people who do not have teams, departments or budgets to figure out how company incorporation works”, the spokesperson said.
They added: “It is built for individuals who want things done properly, without having to become experts in the process themselves.”
“The approach is intentionally simple – clear steps, plain language and real people at the other end who respond quickly and treat questions as part of the journey, not an inconvenience.”
There was “something powerful” about founders “being able to move forward without feeling overwhelmed”, they said.
“It would be great to see more local businesses able to incorporate, giving founders and their ventures greater longevity and security without breaking the bank,” the firm added.