Jersey

Personal income tax

0-20%.

Corporate income tax

0% as a standard rate, including fund management business, with rates of 10% for certain regulated and financial activities (including banks, trust companies, investment managers, and certain fund functionaries) and 20% for certain utilities companies.

Exchange restrictions

None.

Tax information exchange agreements

Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Hungary, Iceland, India, Indonesia, Ireland, Italy, Japan, Korea, Latvia, Mexico, Netherlands, New Zealnd, Norway, Poland, Portugal, Romania, Slovenia, South Africa, Sweden, Switzerland, Turkey, United Kingdom and United States of America.

Double Taxation Agreements

Cyprus, Estonia, Guernsey, Hong Kong China, Isle of Man, Liechtenstein, Luxembourg, Malta, Mauritius, Qatar, Rwanda, Seychelles Singapore, United Arab Emirates and United Kingdom.

Permitted currencies

Any currency.

Minimum authorised capital

No.

Minimum share issue

No.

Shelf companies

No.

Timescale for new entities

See 'incorporation fees' below.

Incorporation fees

A ‘menu’ of choice is available ranging from 5 days to 2 hours. Within: 5 business days - £200; 3 business days - £295; 2 business days - £375; 1 business day - £520; 2 hours - £820; Out of Hours – by agreement, minimum £1,480.

Annual fees

£220-£330 on filing of annual confirmation statement. Late filing fees apply.

Minimum number

Private company: 1. Public company:2.

Residency requirements

No (subject to certain exceptions for regulated companies).

Corporate directors

Allowed.

Meetings/ frequency

No specific requirements.

Disclosure

Yes. Shareholders details together with beneficial ownership and control disclosed to Registrar on incorporation. Thereafter, membership information disclosed in annual confirmation statement. Changes to beneficial ownership and control must be disclosed to Registrar within 21 days of knowledge.

Bearer shares

Not permitted.

Minimum number

Private Company: 1. Public company: 2.

Public share registry

No.

Meetings/ frequency

Annual General Meeting (but can be waived) and no specific frequency.

Annual confirmation statement

Yes.

Audit requirements

Private company: discretionary. Public Company: mandatory.

Recent Legislation

• Legislation Enacted During 2023 (up to 23 November 2023)
• Banking Business (Amendment No. 7 – Commencement) (Jersey) Act 2023
• Banking Business (Accounts, Auditors and Reports) (Jersey) Order 2023
• Banking Business (General Provisions) (Amendment No. 5) (Jersey) Order 2023
• Bankruptcy (Désastre) (Amendment No. 3) (Jersey) Order 2023
• Competition (Vertical Arrangements Block Exemption) (Jersey) Order 2023
• Criminal Justice (Deferred Prosecution Agreements) (Jersey) Law 2023
• Dormant Bank Accounts (Distribution of Fund Money) (Amendment) (Jersey) Order 2023
• EU Legislation (Information Accompanying Transfers of Funds) (Amendment) (Jersey) Regulations 2023
• Financial Services (Disclosure and Provision of Information – Person with Standing) (Jersey) Order 2023
• Financial Services (Amendment of Law) (No. 6) (Jersey) Regulations 2023
• Financial Services (Amendment of Law No. 6 Regulations – Commencement) (Jersey) Order 2023
• Financial Services (Amendment of Schedules to Law) (No. 3) (Jersey) Order 2023
• Income Tax (High Value Residents – Amendment) (Jersey) Law 2023
• Act declaring that the Income Tax (High Value Residents – Amendment) (Jersey) Law 202- has immediate effect
• Limited Partnerships (Continuance) (Jersey) Regulations 2023
• Limited Liability Companies (Amendment) (Jersey) Regulations 2023
• Limited Liability Companies (Winding Up and Dissolution) (Amendment) (Jersey) Regulations 2023
• Money Laundering (Amendment No. 12) (Jersey) Order 2023
• Money Laundering (Amendment No. 13) (Jersey) Order 2023
• Probate (Forms and Particular Holders) (Jersey) Order 2023
• Probate (Amendment) (Jersey) Law 2023
• Proceeds of Crime (Consequential and Miscellaneous) (Jersey) Regulations 2023
• Proceeds of Crime (Amendment No. 6 of Law – Commencement) (Jersey) Order 2023
• Proceeds of Crime (Supervisory Bodies) (Transitional Provisions) (Jersey) Order 2023
• Proceeds of Crime (Supervisory Bodies) (Supervised Business – Amendment) (Jersey) Regulations 2023
• Proceeds of Crime (Cannabis Exemption – List of Jurisdictions) (Amendment) (Jersey) Order 2023
• Proceeds of Crime (Supervisory Bodies) (Transitional Provisions – Amendment) (Jersey) Order 2023
• Proceeds of Crime (Financial Intelligence – Commencement of Amendment Regulations) (Jersey) Act 2023
• Proceeds of Crime (Provision of Information by Trustees) (Amendment) (Jersey) Order 2023
• Proceeds of Crime (Duties of Non-Professional Trustees) (Amendment) (Jersey) Order 2023
• Sanctions and Asset-Freezing (Amendment of Law and Order) (Jersey) Order 2023
• Sanctions and Asset-Freezing (Automatic Implementation of UK Sanctions on Belarus) (Jersey) Order 2023
• Sanctions and Asset-Freezing (Amendment – Automatic Implementation of Ports Directions) (Jersey) Order 2023
• Sanctions and Asset-Freezing (Amendment No. 3) (Jersey) Law 2023
• Sanctions and Asset-Freezing (Amendment of Law and Order No. 2) (Jersey) Order 2023
• Sanctions and Asset-Freezing (Commencement of Amendment No. 3 Law) (Jersey) Order 2023
• Stamp Duties and Fees (Amendment of Law – No. 6) (Jersey) Regulations 2023
• States of Jersey (Transfer of Financial Services Functions – External Relations to Chief Minister) Order 2023
• Taxation (Double Taxation) (Date in Force – United Kingdom) (Jersey) Order 2023
• Taxation (Exchange of Information – Amendment) (Jersey) Regulations 2023

Pending Legislation

• Register of Names and Addresses (Amendment) (Jersey) Law 202-
• There will be a continuing programme of legislative updates in order to maintain Jersey’s continuing compliance with evolving international standards.

Registered office

Yes, companies must have a registered office in Jersey.

Domicile issues

No.

Company naming restrictions

Yes.