GENERAL INFORMATION

The Channel Islands are divided into two Bailiwicks; Jersey and Guernsey. Jersey is the largest of the Channel Islands and is approximately 160km south of England and 22km from France. The island is a British Crown Dependency which has close links with the UK (particularly the City of London) and Europe. The island’s capital is St Helier. It enjoys legislative and fiscal independence and does not form part of the European Union or Eurozone.

Jersey is a leading international finance centre, particularly for banking, funds, private wealth and capital markets. It enjoys economic and political stability and has a sophisticated and robust legal and regulatory system and high standards of transparency and accountability. It also has access to The Channel Islands Securities Exchange (CISE) which provides a listing facility and a market for companies to raise capital from international investors based on a bespoke trading platform. Its financial regulator is the Jersey Financial Services Commission (JFSC).

Other basic facts:

Time zone

No GMT offset

 

Official language

English. Jèrriais is the traditional language

 

National currency

UK pound is the official currency of the United Kingdom the Crown dependencies of Britain (GPB)

 

KEY CORPORATE FEATURES OF JERSEY PRIVATE LIMITED COMPANIES

TYPE OF COMPANY
Shelf company availabilityNo
Time taken for incorporation10 to 14 working days, although fast-track is possible with higher statutory fee
SHARE CAPITAL
Permitted currenciesAny foreign currency
Standard currencyGBP
Minimum issued capitalOne (1)
Authorised capitalUsually GBP10,000
Par / nominal valueOptional
DIRECTORS
MinimumOne (1)
Corporate directorYes, if the body corporate acting as a director is registered under the Financial Services (Jersey) Law 1998 to provide such services and does not itself have any corporate directors
Local director requirementsOptional
Location of meetingAnywhere
Minimum number of meetingsPer Articles of Association
Publicly accessible recordsNo
SHAREHOLDERS
MinimumOne (1)
Bearer sharesNot allowed
Corporate shareholdersAllowed
Local shareholder requirementsNo
Location of meetingAnywhere
Minimum number of meetingsOne unless the shareholders waive the requirement for an AGM
Publicly accessible recordsRegister of members is open for public inspection
COMPANY SECRETARY
RequirementsA least one (1) individual or corporate. There are no qualifications for this office
REGISTERED OFFICE
RequirementsMust be in Jersey
ACCOUNTS
Preparation of accountsYes
Audit requirementsOnly if the company’s Articles of Association or a shareholders’ resolution require the appointment of auditors
Filing of audited accountsNo
Publicly accessible recordsNo
ANNUAL REQUIREMENTS
Annual returnBefore the end of February each year
Tax returnSeven (7) months from the end of the accounting period
GENERAL
Legal systemCommon Law
Corporate re-domiciliationYes
Double taxation treaty accessYes
Exchange controlNo
Taxation
  • Resident companies have a corporate income tax of 0%, unless in the case of financial services entities, utility companies and rental and property development companies
  • GST at 5%
  • No capital gains tax, withholding tax, capital transfer, gift, wealth or inheritance taxes or any death or estate duties
  • No stamp duty is levied in Jersey on the issue, conversion, redemption or transfer of shares

The information in this document is not advice of any kind but general information only and should not be relied on as legal advice. Kensington Trust Group recommends seeking professional advice on legal or tax issues affecting you before relying on it. While Kensington Trust Group tries to ensure that the content of this document is accurate, adequate or complete, it does not represent or warrant, express or implied, its accuracy, correctness, completeness or use of any of the information. Kensington Trust Group does not assume legal liability for any loss suffered as a result of or in relation to the use of this document. To the extent permitted by law, Kensington Trust Group excludes any liability for negligence, for any loss, including indirect or consequential damages arising from or in relation to the use of this document.