Establishing a company in Jersey

Jersey is an island located near the French coast of Normandy; it is part of the Channel Islands and a British Crown dependency. It is considered a sovereign parliamentary democracy subject to the UK constitutional monarchy, although it is self-governing, does not belong as an outright territory to the UK or the EU, and only functions with the guidance of the Queen. This fact, along with few significant sources of revenue, allows its government to offer attractive tax policies to foreign companies. The official language is English, and the registration process simple and effective in comparison to other countries.

The overall area of the island is 118 km2 and it has 98,000 inhabitants. It is a pleasant and particularly appealing place for tourists, and visitors can enjoy the diverse and extensive marine culture, pastoral villages and towns, and a moderate climate. English is commonly spoken, although French is the island’s second official language and is also used. The central city and capital is St. Helier. In terms of cuisine, the traditional Jersey menu includes a lot of seafood, with local specialties taking their inspiration from both English and French traditions, resulting in a diverse and interesting palate.

  • The name of the island originally stems from the Latin word “Caesarea”, and so it appears in Roman documentation and was used in previous centuries.
  • Jersey holds an annual shipping and yachting exhibition, drawing thousands of tourists and bringing together sailing lovers from across the seas. It is held in the prestigious marina of St. Helier
  • Jersey even has its own unique variety of milking cows which have been named for the island, producing rich and high-quality milk.

There is very little doubt that without Jersey’s tax policy drawing in so many foreign companies few people would ever hear of the tiny island. Its economy is mostly based on the provision of financial services and company registration services. A quarter of the population is employed in these sectors or in related legal areas. Jersey (which is, as stated, a self-governing state) maintains its own currency, pegged to the GBP, and has its own internal money. British currency is also accepted throughout the island. GDP is 5.1 billion USD and per capita income is 57,000 USD, a remarkably high number that places it 6th in the world. The tax system does not include VAT but does impose a local goods tax of 5%. There is no corporate tax in most cases, and no capital gains tax. Income tax rates for locals is 20%.

Companies deciding to register on the island enjoy a very low tax rate, advanced transportation and telecommunication infrastructure and a modern banking system. On the other hand, company incorporation there does not include full privacy of company office holders and there is a requirement to provide authorities local office addresses.

General Information


Type of company

International Business Company (IBC) – Resident

Relevant Companies Law

Companies Law 1991 Jersey

Offices

Law requires companies to provide a local office address

Language of original incorporation documents

English

Finance and Taxation


Currency

GBP

Corporate tax rate

0% - 20%

Standard share capital

10,000 GBP

Office Holders


Company Secretary (Secretary)

 
Obligation to appoint company secretary

Required

Obligation to appoint local secretary

Not required

Type of entity that may function as company secretary

Individual and/or company

Director

 
Obligation to appoint company director

Required

Obligation to appoint local company director

Not required

Minimum number of directors

1

Type of entity that may serve as company director

Individual and/or company

Shareholders

 
Obligation to register shareholders

Required

Obligation to register local shareholders

None

Minimum number of shareholders

1

Type of entity that may register as shareholder

Individual and/or company

Type of shares

Registered shares

Accessibility of Information


Company registrar

Information regarding office holders accessible to the public

Annual Assembly and Reporting


Obligation to hold annual assembly

Not required

Obligation to prepare financial reports

Required

Obligation to submit financial reports

Not required

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