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Best Bitcoin Card for Guernsey

The Channel Islands are neither part of the United Kingdom nor a crown colony, but as crown dependency under the direct control of the British Crown. They are separate legal entities and therefore neither part of the United Kingdom nor of the European Union.

Geography

The island is a hilly country with cliffs, especially in the south. The agricultural use is mainly livestock breeding and horticulture. Guernsey is an important tourist destination for nature and bird lovers. In addition to the main island of Guernsey, the Vogtei also includes the islands of Alderney, Sark, Herm, Jethou, Brecqhou, Burhou and other small islands and cliffs such as the Hanois and Casquets. The area of the island Guernsey is 63.4 km², that of the entire bailiwick about 78 km². The population of the island of Guernsey is 62,533 inhabitants (as of 2015); the bailiwick has a total of 65,124 inhabitants, including the inhabitants of the islands of Alderney, Sark,  Herm and Jethou.

Climate and vegetation

The island has a mild, almost Mediterranean climate due to the influence of the Gulf Stream and its sheltered location in the Gulf of Saint-Malo. Temperatures below zero degrees Celsius are extremely rare, on the other hand the sea water hardly reaches temperatures above 20 degrees even in midsummer.

As there is very little frost, cypresses, banana trees and palm trees thrive on the island alongside fuchsias and Guernseylilia (the national flower of the island).

Political structure

In Great Britain there are two areas which officially have the status of a bailiwick (English Bailiwick, French Bailliage), Guernsey and Jersey. However, they are not headed by a bailiwick, but are under the direct control of the British Crown.

Politically, the islands of Alderney, Sark, Herm, Brecqhou, Jethou, Burhou, the Casquets, Les Hanois and other smaller islands also belong to the Bailiwick of Guernsey. Guernsey is neither part of the UK nor the EU, but is part of the European Customs Union. The bailiwick issues its own banknotes and mints its own coins.

The Bailiwick of Guernsey is divided into twelve municipalities (parishes), of which Alderney and Sark have a special status and are known as dependencies. The parishes (without the dependencies) used to be further subdivided into Vingtaines.

Economy

Around 32 percent of Guernsey’s gross national product is generated by financial service providers (banks, insurance companies, investment companies). In a ranking of the most important financial centres worldwide, Guernsey ranked 53rd (as of 2018). Traditional sources of income such as tourism, mechanical engineering and horticulture (mainly tomatoes and cut flowers, especially freesias) are on the decline. Low taxes have made Guernsey popular as a tax haven for private equity funds. As a member of a customs union with the EU, numerous EU regulations are also applied here.

Like other offshore financial centres, Guernsey is coming under increasing pressure to adapt its laws to international policy conditions, particularly as regards the transparency of capital inflows. Tax legislation is currently being reformed to comply with EU and OECD regulations. Since 1 January 2008, a new corporate income tax law has been in force with a zero-ten rule under which most corporations do not pay corporate income tax, but the provision of certain banking services is taxed at 10 percent. This is expected to result in a shortfall of around £45 million, which will be offset by increased economic growth and indirect taxes. On 28 January 2016, the European Commission presented a package of measures to combat tax evasion, including the inclusion of Guernsey on the “black list” of tax havens.