While Guernsey is not a part of the UK, it’s status says it has British Crown Dependency. This part of the Channel Islands is currently doing everything possible to attract investments and raise the local economy. Along with the numerous benefits, the government released a law that controls who can live and work on the island. Today, we’ll discuss the housing system which consists of the local market and the open market.
Guernsey local market
The peculiarity of the local market is that only qualifies residents can purchase these properties. These residents must have an existing automatic right to live on the island. In case you don’t have one and live there due to an employment permit, the law will determine how long you can live in a local market property. You can find out more about the benefits of the local market as well as living in Guernsey at https://imperiallegal.com/guernsey-residence.
Guernsey Open Market
This type of market differs from the local one. Mainly because it’s available for newcomers who wish to become a resident. They can be from the EU or outside. There are time limits and the process is very simple. The families can move anytime for as long as they wish. The only drawback of the open market is the price. These properties are much more expensive comparing to the local market.
If you wish to get citizenship, you should know that this will take you over 7 years. However, it permits dual citizenship for your convenience.