How to send money to Guernsey in 2026: a 60,000-pound tax cap, an open market home and deposit protection
On Guernsey in 2026 a resident pays no more than 60,000 pounds ($80,000) of tax a year if they buy an open market home, and gifts and inheritances are not taxed. Money arrives by transfer in pounds or euros: the island has been in the single euro payments area since 1 May 2016.
Money is sent to Guernsey in pounds using UK payment details or in euros under the common European rules: the Guernsey pound equals the pound sterling, so a transfer from the United Kingdom arrives with no exchange. The island's main difference is the tax cap: a buyer of an open market home pays no more than 60,000 pounds ($80,000) a year, and other residents' tax on foreign income does not exceed 160,000 pounds ($220,000) a year if they choose the cap. Deposits at each Guernsey bank are protected up to 50,000 pounds ($67,000).
| Method | On 8 October 2026 |
|---|---|
| pounds from the United Kingdom | an ordinary transfer by sort code and account number, no exchange |
| euros from Europe | a single euro payment in 1 business day, since 2016 |
| from other countries | in pounds, euros or dollars, 1-3 business days |
| buying a home | the money on the buyer's lawyer's account before the court approves the deal |
| family support | a transfer to the family's account with no gift tax |
Dollars are calculated at the Bank of England rate of 7 October 2026, 1.3220 per pound, rounded up.
The open housing market on Guernsey: a home anyone may live in
Housing on Guernsey is split into two markets. Anyone may live in an open market home without a residence permit, so people moving to the island buy and rent these. Local market housing is open to residents with the right to live there or with a permit issued under the Population Management Law of 2016. There are few open market homes and they cost more than local ones, but buying one does not require waiting for a status.
The right to enter the island is a separate matter. British and Irish citizens need no permission to live on Guernsey, while others obtain a British immigration status, which on the island is arranged under local rules: for wealthy movers, investors and invited specialists. So money for a house is usually sent once the basis for living on the island is clear.
A house purchase is approved by the Royal Court of Guernsey, and by that day the whole price must be on the buyer's lawyer's account. So an international transfer is sent a few business days before the hearing, with time to spare for the bank's check of the origin of the money. Choosing a house is covered on the property in Guernsey page.
A 60,000-pound tax cap for a buyer of an open market home
Income tax on Guernsey is 20%. Someone who moves and buys an open market home can pay no more than 60,000 pounds ($80,000) of tax a year for the year of the move and the three following calendar years. The conditions are document duty on the purchase of at least 50,000 pounds ($67,000), which means a house price of about 1.4 million pounds ($1.9 million) or more, and a purchase no earlier than 12 months before the move and no later than 12 months after it.
The cap covers tax on both foreign income and Guernsey income. Above it, 20% is paid only on income from property on the island, for example rent from a second home. A manager will work out when to send the money for the house so that the purchase falls within twelve months before or after your move.
Caps of 160,000 and 320,000 pounds for other residents
If no house is bought or it is cheaper, two permanent caps with no time limit remain. Tax on income from outside Guernsey is no more than 160,000 pounds ($220,000) a year, and income from the island is then taxed at 20%. Tax on all worldwide income together is no more than 320,000 pounds ($430,000). Interest on deposits at Guernsey banks counts as income from outside the island under these rules, so it falls under the first cap.
Guernsey has no capital gains, inheritance or gift taxes. Money from parents arrives on an account tax-free at any amount, and a gain from selling securities is not subject to capital gains tax. Family money on the island is often held in a trust - see trusts and foundations in Jersey and Guernsey.
We will help you send money to Guernsey
Mistakes cost more than fees: an open market home bought more than a year after the move and without the tax cap, the house price reaching the lawyer after the court hearing, the whole deal sum kept for months on one account above the deposit guarantee, and a large gift with no gift agreement. We will help you avoid them: we will choose the route and currency of the transfer, gather source-of-funds documents for the Guernsey bank and make the house payment exactly in time for the deal's approval.
Details and cost are with a manager in the chat: a lot depends on the amount, the currency and the purpose of the transfer.
Deposit protection on Guernsey: 50,000 pounds at each bank
The Guernsey Banking Deposit Compensation Scheme has operated since 26 November 2008 and protects up to 50,000 pounds ($67,000) per depositor at each bank licensed on the island. The protection covers above all the deposits of individuals, wherever they live. The scheme is run by an independent board, separate from both the financial regulator and the island's government, and the overall payout cap is 100 million pounds over five years.
The board aims to return money within three months of a bank failure. So a large sum for buying a house is sent to the island closer to the deal date, not many months ahead.
Pounds by UK details, euros under common European rules
Guernsey banks use UK payment details: a six-digit sort code, an eight-digit account number and a 22-character international number with the UK country code. Since 1 May 2016 the island, together with Jersey and the Isle of Man, has been part of the single euro payments area, and euros from France or Germany are credited to a euro account within a business day. Dollars from other countries are credited by the bank to a dollar account or exchanged into pounds at the day's rate.
We will advise how best to send money to Guernsey: we will choose the route and currency for your amount, prepare documents for the island's bank and carry out the transfer through licensed partners until the money is credited.
A transfer to Guernsey by amount: what the bank will ask
Up to $10,000. A payment purpose and a clear link to the recipient are enough: renting an open market home, study, family support.
$10,000-100,000. A Guernsey bank will ask for a 6-month statement and a document on where the money comes from: a property sale, income, a gift.
From $100,000. A pack on the origin of wealth over several years is prepared, together with the house purchase or investment contract. How to put it together is covered in proof of source of funds, and moving capital step by step on the capital relocation page. Ask a manager for the terms for a large transfer to Guernsey.
From Guernsey to the United Kingdom, Jersey and Switzerland
Pounds from Guernsey go to the United Kingdom with no exchange, as a domestic UK payment, and the same applies to neighbouring Jersey. Wealthy islanders also hold investments in Switzerland and Luxembourg: money goes there in francs, euros or pounds.
Sending money to nearby countries
- How to send money to the United Kingdom
- How to send money to France
- How to send money to Ireland
- How to send money to Switzerland
- How to send money to Luxembourg
- How to send money to Jersey
All countries and moving capital step by step are in the capital relocation section.
FAQ
How much tax a year does a buyer of an open market home on Guernsey pay?
What is Guernsey's tax cap on income from abroad?
Does interest on a Guernsey bank deposit fall under the tax cap?
How much money is protected at a Guernsey bank?
Do you need a permit to live in an open market home on Guernsey?
Is there an inheritance tax on Guernsey?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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