Guernsey is a British Crown Dependency and an international finance centre known for investment funds, captive insurance, fiduciary services and private banking, regulated by the Guernsey Financial Services Commission (GFSC) across the Bailiwick. Alderney, part of the Bailiwick of Guernsey, hosts a long-standing eGambling licensing regime run by the Alderney Gambling Control Commission.
Risk flagStandard
FATFNot listed
EU AML high-risk listNot listed
EU tax listNot listed
Licence regimes4
CurrencyGBP
S&P ratingA+
Next electiondue 2029
Not on the FATF grey or black list (plenary of 19 June 2026), not in the annex of Delegated Regulation (EU) 2016/1675 as consolidated on 29 January 2026, and not in Annex I of the EU tax list as revised in February 2026. Checked 7 October 2026.
Government and politics
Government
Parliamentary democracy under the British Crown (Crown Dependency), committee-based government
Monarch
Charles III · since September 2022
Chief Minister (President of the Policy and Resources Committee)
Lindsay de Sausmarez (Independent)
Governing parties
Independents (committee system, no party government)
Last election
States of Deliberation general election, 18 June 2025
Next election
States of Deliberation general election, due 2029
Legislature
States of Deliberation (unicameral): 38 elected Deputies plus 2 Alderney representatives
Legal system
Norman customary law with elements of English common law and local statute
Economy and finance
Population
64.8k (2023)
GDP
USD 4.1bn (2022)
GDP per person
USD 65,057 (2022)
Currency
Pound sterling (local Guernsey pound notes and coins also issued) (GBP), Guernsey pound issued by the States of Guernsey at par with GBP; pound sterling circulates freely
Central bank
None; Guernsey Financial Services Commission is the financial regulator
Credit rating
S&P A+ (stable) (as of August 2026)
Finance and insurance drive Guernsey's economy, with the island a major centre for investment funds, captive insurance and fiduciary business; official GDP data after 2022 have been delayed by a tax system IT problem.
Bank
Deposit taking licence
Minimum capitalNot published
TimelineNot published
AuthorityGFSC (Banking and Insurance Division)
Law
Banking Supervision (Bailiwick of Guernsey) Law, 2020
Fees
Application fee GBP 50,925 for new banks applying in 2026, plus a pro-rated annual fee from the month of licensing. Annual fee GBP 50,925 (total assets under GBP 500 million) up to GBP 77,265 (over GBP 1 billion), with surcharges for subsidiaries, retail operations and overseas branches.
Passporting
None; Guernsey is outside the EU and the UK regulatory perimeter.
Key requirements
Applicants are advised to discuss the application with the Banking and Insurance Division before submitting
Controllers require the Commission's prior engagement on change of control (notification fee GBP 2,760)
Virtual asset service provider licence (Part III VASP)
Minimum capitalNot published
TimelineNot published
AuthorityGFSC
Law
Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022, Part III (in force 1 July 2023)
Fees
Application fee GBP 50,000 for a virtual asset exchange or stablecoin issuer or operator; GBP 5,000 for other VASPs; GBP 4,105 for an AMC issuer holding virtual assets (from 1 January 2026).
Passporting
None.
Key requirements
Licence required from 1 July 2023 unless a class exemption or individual exemption applies
Covers trading, custody and other activities in connection with virtual assets
Application with covering letter, fee, documents and online personal questionnaires for key persons
Protection of Investors (Bailiwick of Guernsey) Law, 2020
Fees
Application fee GBP 3,200 for licensees other than investment exchange operators (GBP 31,170). Annual fees for brokers, custodians and advisers banded by audited gross turnover, from GBP 4,580 (under GBP 1.5 million).
Passporting
None.
Key requirements
Fit and proper directors and controllers
Ongoing conduct of business and financial resources rules
Category 1 or Category 2 eGambling licence (Alderney)
Minimum capitalNot published
TimelineNot published
AuthorityAlderney Gambling Control Commission
Law
Alderney eGambling Ordinance, 2009; Alderney eGambling Regulations, 2009 (fees updated by the Alderney eGambling (Amendment) Ordinance, 2015)
Fees
Licence fee GBP 17,500 for the first year for a new licensee with no previous licensed activity in Alderney, otherwise GBP 35,000. Category 1 renewal fees banded by annualised net gaming yield from GBP 35,000 (under GBP 500,000) to GBP 400,000 (GBP 30 million or more); Category 2 renewal GBP 35,000. Application deposit GBP 10,000 plus supplementary deposit GBP 10,000. Temporary eGambling licence GBP 10,000 a year.
Passporting
None.
Key requirements
Approval of internal control systems (initial deposit GBP 10,000) and of gambling equipment
Associate certificates for B2B suppliers (Category 1 and 2 associate certificates from GBP 35,000 in the first year)
Maximum financial penalty the greater of GBP 250,000 or 10% of turnover
Alderney Gambling Control Commission (AGCC) · websiteOnline gaming
Guernsey has no standalone e-money institution or payment institution licence; the Lending, Credit and Finance Law 2022 replaced the Registration of Non-Regulated Financial Services Businesses Law 2008 and licenses financial firm businesses under Part III (application fee GBP 4,925) alongside VASPs. Minimum capital and statutory decision timelines were not found on the GFSC pages consulted and are left null. The AGCC fee table is stated as of 1 April 2015 and was shown unchanged on the AGCC website when checked. Guernsey is a major funds and insurance centre; fund and insurance regimes are not detailed here.
Country information checked 9 October 2026. Licensing data updated 7 October 2026. Information only, not legal advice; requirements change. Regulatory notice.
