Jersey is an attractive place to form a family office because of the stability offered by our highly-skilled service providers and our mature and well-regulated business environment.
Due to Jersey’s economic and political stability, its clear statutory framework and supporting case law, Jersey is seen as a safe place for property which is vital for wealth preservation and asset protection.
Together with political and economic stability, our forward-thinking and robust regulatory framework has set us apart from other international finance centres for more than 50 years, making us a world leader in finance.
In relation to Brexit, Jersey is neither part of the EU nor of the UK although it’s proud to say that it has a long standing, stable relationship with both. Our third country status means that the existing agreements with both the UK and EU Member States remain fully functional and will remain unchanged throughout the Brexit climate of uncertainty and beyond.
Jersey’s current constitution
Jersey is a self-governing parliamentary democracy under the ultimate sovereignty of The Crown. It has its own independent legal, administrative and fiscal systems and is not part of the UK, Great Britain or EU. The ability for Jersey to determine its own laws, raise taxation, and hold elections is based on long-standing constitutional precedent.
Jersey does not receive subsidies from or pay contributions to the UK. It does however make annual voluntary contributions towards the costs of defence and international representation by the UK. For more information see the Jersey’s Constitution factsheet.
One of Jersey’s key strengths is the ability of the Government of Jersey; the Jersey Financial Services Commission (JFSC), the regulator; and the financial services industry to collaborate, innovate and address matters in a timely manner – retaining the Island’s reputation for being a pragmatic and forward-thinking jurisdiction.
An independent government
Jersey is self-governing and has it own financial and legal systems and its own courts of law. As a British Crown Dependency, Jersey is defended and internationally represented by the UK government. Today, the Lieutenant-Governor of Jersey is the personal representative of Her Majesty the Queen here in the Island.
While not a sovereign state, Jersey has been expanding its treaty network with global partners in limited areas, in which it is granted an ‘entrustment’ to do so by the UK government, on behalf of The Crown.
The Island has, for example, signed several Double Taxation Agreements (DTAs) and Tax Information Exchange Agreements (TIEAs) to promote transparency and information exchange, to provide tax certainty to residents and investors, and to support reciprocal investment.