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Jersey was originally part of the continental Duchy of Normandy but the island allied itself to the English Crown in 1204, thereby gaining a high degree of independence. Jersey is fiercely protective of its unique constitution and although part of the British Isles, it is not part of the United Kingdom, nor a member of the European Union. However, the island has a special relationship with the European Union by virtue of Protocol 3 to the United Kingdom’s Treaty of Accession to the European Economic Community.
Jersey's status as a Crown Dependency gives the Island constitutional rights of self-government and judicial independence. This offers both businesses and investors the benefits of an independent international finance centre, which is close to the United Kingdom and mainland Europe.
Being self-governing, Jersey has been instrumental in establishing itself as a world renowned offshore finance centre. With approximately 50 international banks, 200 regulated trust and company administrators, over 100 investment managers, stockbrokers, advisors, custodians and fund administrators, a significant presence by all ‘Big Four’ accountancy firms, as well as many of medium-sized international firms; and a range a highly regarding offshore law firms; employing over 13,000 people.
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