Relocation & Banking
Locate Jersey are responsible for attracting and retaining inward investment and developing High Value Residency for Jersey. Part of Jersey’s government, the team provide comprehensive, confidential and free advice to facilitate, support and guide individuals and companies through the process of relocating to Jersey.
Only a select number of High Value Residency consents are granted each year, and High-Net Worths wishing to move to Jersey, must meet certain criteria. Each submission is considered on the basis of the financial and social attributes that a candidate could bring to the Island.
Applications to relocate to Jersey as a High Value Resident are open to individuals whose worldwide income comfortably and sustainably exceeds £725,000 per annum. The current tiered rate of tax on personal, worldwide income is;
- 20% on the first £850,000 * (currently equivalent to £170,000)
- 1% on all income over £850,000
- 20% on income derived from Jersey property
Should your application be successful and you take up permanent residency in Jersey, there is a minimum expected value in terms of the property that you buy or rent. The purchase price for a high value property is typically considered to be at least £2,500,000 for a house, and £1,250,000 for an apartment. If you decide to rent a property, it should be of the same saleable value. However, there is an expectation that after 2 years you show a commitment to Jersey by purchasing your own property.
For more information on residency in Jersey visit www.locatejersey.com
Locate Jersey contact: Kevin Lemasney / Director of High Value Residency/ +44 (0)7797 783457 or email firstname.lastname@example.org
Big countries and organisations that call Jersey a tax haven are factually incorrect and need to look back before passing judgment.
This small self-governing island is completely free to set its own fiscal rates to stay competitive with other jurisdictions around the world who have all introduced systems where corporation taxation is low or set to zero.
Although adjustments are made from time to time, at present non-finance private businesses are not required to pay any tax and if a company is owned by non-local shareholders, the only tax paid will be by the employees.
The reality is that, unlike many of its competitors across different continents as well as the Caribbean, Jersey has never set out to create or lower its rates to an artificial level in order to attract investors.
A comparatively low tax rate has by and large remained the same for over 75 years, ever since the occupying forces in WW2, requested the States of Jersey to increase tax from two to four shillings or 20 per cent in the pound to finance wartime fortifications and infrastructure.
It was this stability together with an income surplus brought about by extremely successful agricultural and tourism industries in the post war period that enabled banking and finance to naturally evolve into the professional and sophisticated structure that exists today.
The economic benefits to Jersey have and continue to be huge, particularly with trust work and fund management as well as many other disciplines that have been added to the traditional banking role.