Sovereign Guernsey - Unlimited Liability Company

A Guernsey Unlimited Liability Company may have limited and unlimited shares. Unlimited members’ liability for the company’s debts is unlimited while they are members, or within a period of one year after they cease to be unlimited members.

This type of company would be used where the company is required to hold contracts that are underwritten by the members.

On completion of a company incorporation submission form to the Company Registry, a normal incorporation will be processed within 24 hours. However, a ‘rapid’ or ‘special’ incorporation may be selected for incorporation processing of two (2) hours or 15 minutes respectively (at extra cost). A company must file an Annual Validation to the Registrar together with the prescribed fee within one month of the Annual Validation date. There is no requirement to file accounts with the Registrar, but a company must keep accurate and up-to-date accounting records.