Guernsey Incorporated Cell Companies are governed by the Companies (Guernsey) Law, 2008.
A Guernsey Incorporated Cell Company comprises the "core" and the "cells".
Each cell is a separate legal entity and they are not deemed to be subsidiaries of the core.
Furthermore, each cell can enter into contracts under its own name and they can enter into legal contractual obligations with one another. In addition, each cell has its own Board of Directors and its own Memorandum & Articles of Association.
The name of the Incorporated Cell Company should include the words 'Incorporated Cell Company' or the letters 'ICC'. Similarly, the name of each cell should include the words 'Incorporated Cell' or the letters 'IC'.
Each cell is assessed separately for tax purposes.