THE new Guernsey Registry is expected to generate nearly £9m. for the States next year. It will also be a modern infrastructure for administering companies which, it is hoped, will attract business ahead of other jurisdictions.

Guernsey registrar of companies Mark Whiteley (pictured) said the office would be a major contributor to States revenue as the new system for company registration, which complements the companies law, comes into effect next Tuesday.

‘The forecast income for 2009 from annual validation and fees is £8.8m. and that’s why we are encouraging Guernsey companies to register their clients in Guernsey because it will all go into States revenue.

‘We don’t know how many exactly, but there are something like 40,000 or 50,000 BVI companies administered in Guernsey and if they were Guernsey companies instead, registry revenue would be going to Treasury and Resources and then into the health service and education or wherever they wanted.’