Alderney - Luxury Holiday Hotspot and Foriegn Offshore Investors first choice in Tax Reduction


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Where is Alderney?

Alderney is the third largest of the Channel Islands and is one of the few unspoiled, peaceful, natural and totally relaxing British Isles.

It is situated near mainland France (by 8 miles), Guernsey (by 23 miles), Jersey (by 30 miles) and the Isle of Wight (by 60 miles). Yet, it has managed to avoid mainstream tourism, making it easier for you to relax and take in a great example of British scenic beauty. From An oasis with an ancient and varied history, to an abundance of flora and fauna, to beautiful beaches and an enviable lifestyle with that unique, contagious phenomenon known as ‘the Alderney Feeling’, Alderney has it all!

Public or Private

Alderney Airport is not one of the busiest; as it is ‘Light Aviation Friendly’ and is therefore, ready to welcome you seven days a week. The airport does it best to ensure that your visit is free of the delays and frustrations experienced at busier airports and thus give you more time to explore the many delights of the island. Beaches and restaurants are abound, many within walking distance.

For pilots of private jets, would near to bear in mind the following points: Alderney Airport is situated within and governed by, the regulations applicable to the Channel Islands CTR (Class [A] airspace) and Alderney CTR (Class [D] airspace).

Secondly, pilots who are unable to comply with full IFR requirements may, subject to weather minimum and air traffic restrictions, be cleared for flight within the Zone on a Special VFR clearance. Details of SVFR restrictions will be found in the UK AIP Aerodrome (AD Volume 1), or Pooley’s Flight Guide.

Finally, prior permission for SVFR Zone entry clearance should be obtained by telephone from Jersey ATC. (Tel: +44 (0)1534 492243)

Pilots may be interested in the Alderney Fly-In, which takes place in June. This event attracts up to 150 private aircraft and several hundred enthusiastic aviators to the island every year.

Another exciting aviation event to watch is the ‘Island Air Races', , held annually during September. The races are run jointly by the Alderney Flying Club and the Royal Aero Club, with the results counting towards the British Air Racing Championships.

For more information about the Alderney Flying Club, visit: and to travel by yacht, please visit: http://www.alderney. gov. gg/index.php/pid/43 for navigation details.

Hotels, Pubs and Restaurants

The following cosy, privately-owned hotels are recommended: Belle Vue Hotels, The Victoria, The Georgian House, Braye Beach Hotel (formerly was Sea View) and the newly-reopened, Hotel Chez André.

All establishments have private bathrooms or en-suite facilities, terrestrial TV, central heating and tea/coffee making facilities. Full details are published in the latest Alderney Brochure and on the respective Internet link pages.

Rates quoted are per person per night, including breakfast and should be considered as guidelines only and vary according to type of room and season (Low Season: November-March; Mid-Season: April, May & October; High Season: June to September).

With regards to where to eat out, apart from the restaurants based in the aforementioned hotels, the following places are recommended: Bumps Eating House; The First and Last Restaurant; Gannets (terrace-based); Mai Thai Restaurant; Mañana; The Moorings; Nellie Grays Indian Restaurant; The Old Barn; Braye Chippy and New China Garden.

Experience Island Life in Alderney

Alderney is some 3.1/2 miles (5 km) long and 1.1/2 miles (3 km) at its widest point, with a population of 2,400. The capital, the small town of St Anne, is the shopping centre catering for most modern-day needs.

Amongst its many qualities Alderney is a relaxed, safe and friendly island with a great deal to offer, including a quiet, stable way of life amidst beautiful surroundings and enjoying a generally warmer climate than the U. K!

Alderney is twinned with the Normandy village of Beaumont-Hague which is just across the Channel. Leisure interests are well catered for, with over forty clubs and societies and there is always something going on. Alderney also has a professionally maintained 9-hole golf course and some of the finest sea-fishing in the Channel Islands. Sailing, surf-boarding, tennis and squash are all popular activities pursued here.

Banking in Alderney

There are three major banks represented in the island: sub branches of Lloyds TSB Bank, HSBC and the National Westminster Offshore Ltd. All the banks provide a full banking service. All bank interest is paid gross and interest paid to non-residents is not subject to local tax.

Setting up your own business in Alderney

Alderney has been a financial centre since the 1950s and through the 1994 Company (Alderney) Law Act, which came into force since mid-1995, setting up businesses have been better facilitated. This is because the law has the following features: A minimum membership of one person, incorporation by registration; provision for the application of standard form articles if required; distinction between public and private companies; abolition of the ultra vires rule; provision for companies limited by guarantee; provision for companies with a share capital and limited by guarantee ("Hybrid" companies). Furthermore, there is provision for the adoption of pre-incorporation contracts; provision for share capital in any currency; issue of fractional shares and shares of no par value; provision for redeemable shares; provision for purchase of own shares; simplified accounting records for private companies without the need to appoint an auditor; private companies may have a minimum of one director and a secretary;reduction of share capital subject to Court approval; general meetings may be held anywhere and private companies may dispense with AGMs; provision for resolutions of members and directors in writing and modern provisions for amalgamations, arrangements, investigations and winding up.

Regarding confidentiality of companies, Alderney companies are under the general supervision of the Bailiwick of Guernsey Financial Services Commission as well as the Alderney Registrar of Companies. The Commission receives details of the beneficial owners; this information is held in confidence and is not a matter of public record.

In terms of taxes, the provisions of Guernsey's Income Tax Law apply equally to Alderney by virtue of the Alderney (Application of Legislation) Law 1948. A new strategy for corporate taxes is in the pipeline too. The provisions of this include: The general rate of income tax paid by companies will be reduced to 0 % from 2008. The profits of certain companies licensed by the Guernsey Financial Services Commission, e. g. banks, fiduciaries, insurance and fund managers) will be taxed at 10%, but with domestic and off-shore insurers subject to the 0% rate. The statuses of exempt company and international company will be abolished with effect from 1 January 2008, after which all companies will be subject to the 0% or 10% rate as appropriate. Other taxation and revenue raising measures will be considered in consultation with local industry to ensure the impact is structurally ‘complementary’ to the reduction in the rate of corporate taxation. Resident individuals will continue to pay tax at 20% on assessable income, including the proportion of the profits of a company in which they have a beneficial interest. The current recommendation is that the new corporate tax structure be implemented from 2008. However, the exact timing and details will be dependent on competitive pressures and international standards. For example, international competition may lead to an earlier implementation date.

Companies which are exempt from paying income tax need to meet these requirements: the beneficial ownership of the company is in the hands of non-residents (except in certain circumstances, e. g. where an interest is held by an Alderney resident who is not solely or principally resident in Alderney or where a resident holds an interest in a nominee or trustee capacity). Beneficial ownership details have been disclosed to the local Financial Services Commission. The existence of any Alderney source income (other than relevant bank deposits) is notified to the Administrator of Income Tax. An exempt company is able to hold board meetings in Alderney, e. g. to conclude contracts, without those meetings constituting the carrying on of a business provided that the only other activities conducted in the island are of an administrative or clerical nature.

For international companies, An Alderney incorporated company which is owned by a non-resident may be used for the conduct of international trading activities which generate income derived exclusively from non- residents of Alderney. Such a company may qualify for International Company Status. In order to qualify as an International Company, no resident of Alderney may have any beneficial interest in the company (unless that resident is an Alderney company which itself is wholly-owned by non-residents) and beneficial ownership details have to be disclosed to Guernsey's Financial Services Commission. An International Company is resident in Alderney for all the purposes of the Income Tax Law but it will pay tax at a rate above zero but not more than 30%. The rate of tax is determined on a case by case basis and once set is fixed for a maximum term of five years, after which time it may be renewed. An International Company that does not have its status renewed will subsequently be liable to tax at the standard rate of 20%. Banks and certain insurers are not eligible to apply for International Company Status. Companies which are under the Income Tax Law and have at any time been regarded as either resident or tax exempt in Alderney cannot apply for International Company Status.

For more information on this, please visit: http://www.alderney. gov. gg/index.php/pid/93.

Corporate Services (Alderney) Ltd.

This was formed in 1987 to take over the offshore management business in Alderney. Since then, it has been able to create a small, but stable, finance industry in the island, particularly with the help of the 1994 Companies (Alderney) Law. The company has two principals: Jon Kay-Mouat: Barrister at Law Grays Inn, Diplomé of the University of Caen, Advocate of the Guernsey Bar and Notary Public.

Mr Kay-Mouat was also awarded the OBE in 1994. Mrs. Fay Webster is the second principal, who has acquired 10 years experience in company management with this Company.

Corporate Services (Alderney) Limited provides services to around 350 company clients. One of its main services is to provide expert interpretation of the 1994 Law, ensuring a company is formed to your exact requirements. If speed is important, formalities can be completed within two days! The principals provide a personal service and guarantee it to be efficient and friendly.

E-Commerce in Alderney

The Channel Islands are renowned for the stability of government and for the highest standards of regulation, accompanied by a sound judicial system. Alderney boasts a healthy, well-balanced economy generated by its rapidly growing e-commerce and offshore finance industry and its traditional tourism and fishing industries. Moreover, the island’s government has acted where others have prevaricated to make the process of establishing an e-commerce presence as easy as possible. A number of companies in the finance sector have established successful back office operations on the island. In parallel, Alderney is rapidly heading for pole position as a leading internet gaming and gambling jurisdiction. The latest state-of-the art computer and communications technology, a well-structured “user-friendly” company law and a good selection of residential and commercial properties with few restrictions on ownership, are available as a part of the infrastructure you wish to have. Cable & Wireless Guernsey whose approach to e-business makes possible mission-critical communications over a business quality IP infrastructure. Resilience, reliability and security are key aspects of the service and are deployed over a high-bandwidth network for voice, data and IP traffic.

In terms of human resources, Alderney has a competent computer literate workforce offering part-time, full-time, tele-working and contract staff, thus providing businesses with the required level of flexibility. Those not wishing to engage staff can call on expertise as required from the island’s experienced computer and technology firms. Alderney has no shortage of specialist legal, banking and accountancy experts on hand.

To facilitate establishing a global e-commerce, e-gaming or e-betting presence, the States of Alderney has passed legislation to further the development of e-commerce on the island and to support the electronic transactions of business in a straightforward, non-bureaucratic way. The Government of Alderney actively embraces the development of online gaming and betting operations. Shortly after introducing its own legislation to allow electronic betting on the island, it appointed the Alderney Gambling Control Commission. Founded in May 2000, the commission i. an independent and non-politicial body whose members are nationally recognised experts in gambling regulation and licensing. It has already established itself at the forefront of regulation of Internet gambling worldwide. The States of Alderney remains committed to working closely with the Alderney Gambling Control Commission and all existing and potential licensees, to protect and safeguard the best infrastructure, within a well-regulated environment.

So, go ahead, try something different and experience the ‘Alderney Feeling’. For more information, please visit: http://www.alderney. gov. gg/index.php/pid/1

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