Guernsey vs Estonia: which jurisdiction wins?

Guernsey vs Estonia — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Guernsey	Estonia
Tax headline	0% (10% banking/insurance)	0% on retained earnings, 20% on distributions
Formation days	5	1
First-year cost	$5,500	$1,500
Treaties	12+	60+
Substance	Substance Law 2018	Real management required for tax residency
Banking	Channel Islands tier-1 banks	LHV, Swedbank, EMIs (Wise)

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