A Guernsey Incorporated Cell Company (the core) is a single legal person but, unlike a PCC cell, the cell of an ICC is also a separate legal person. The cell is not a subsidiary of its core. The registered office of each cell must be the same as its core. Each incorporated cell will have its own board of directors and memorandum and articles of incorporation, however the identity of the core board of directors must be the same as that of each cell.
The written consent of the GFSC must be obtained before an ICC can be incorporated.
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.