Changing guilds

I was wondering, I want to leave my current guild and create one of my own. Is there some sort of grace period that I have to wait, or can I just leave and create a guild?

You can leave and create. I'm not sure if it's still in place but there was a faction restriction on new players in a guild.

It wouldn't stop you from doing anything, even if it's still there but it would mean you wouldn't gain faction for the grace period. It's the same for everyone that joins I think.