Jersey is an award-winning IFC, making it the clear choice for businesses and individuals looking for world-class services, wherever they are in the world.
Jersey Finance, the organisation that represents the jurisdiction’s finance industry, has offices in Jersey, Dubai, Hong Kong and New York, representation in London, as well as virtual offices in Shanghai and Mumbai.
Jersey has been working towards better and more positive engagement around the world, including a focus on clearer jurisdictional awareness in a broad range of sectors and markets. Jersey Finance’s global business development team has focussed on deepening relationships in key target markets in the Gulf Cooperation Council (GCC) countries, Greater China, Africa and the UK, as well as in mainland Europe and North America. Working with these markets has had many clear benefits, as investors look for access to western and emerging markets through well-established and robustly-regulated jurisdictions like Jersey.
Jersey Finance works closely with the Government of Jersey; the Jersey Financial Services Commission (JFSC), Jersey’s regulator; and industry to assess existing and potential markets, and the impact of international regulation. It also delivers award-winning research, helping to set Jersey apart from its competitors and create a positive perception. Additionally, Jersey Finance’s suite of events – delivered in key markets – is vital in clearly promoting the jurisdiction as the IFC of choice.
Jersey continues to expand its global reach and create better international connections. In fact, it has signed Tax Information Exchange Agreements with 38 states, as well as 15 full Double Taxation Agreements with other countries.
Additionally, the JFSC has bilateral and multilateral Memorandums of Understanding with regulators in more than 90 countries. This makes Jersey perfectly placed to work with countries around the world, well into the future.
Jersey’s forward-thinking regulation has been acknowledged by a number of independent assessments. This clear recognition has come from some of the world’s leading bodies, including the OECD and the IMF.
■ Jersey introduced the proceeds of crime legislation in 1999, which provided for: the confiscation and forfeiture of the proceeds of crime; established new money laundering offences; and enabled the enforcement of overseas confiscation orders in Jersey
■ The Island was an early adopter of the OECD’s Common Reporting Standard (CRS), the global standard in the automatic exchange of information
■ Jersey signed up to the United States Foreign Account Tax Compliance Act (FATCA) model in 2013
■ The jurisdiction has maintained a live central register of beneficial ownership of companies for almost three decades
■ The Island has made clearer the existing arrangements for providing beneficial ownership information to law enforcement and tax authorities by signing an Exchange of Notes with the UK Government
■ Jersey signed up to the Multilateral Convention on Mutual Administrative Assistance in tax matters in 2017
■ Jersey was the third jurisdiction in the world (alongside Austria and the Isle of Man) to complete the domestic ratification of the
OECD’s MLI on BEPS in December 2017
■ In November 2017, the OECD Global Forum on Tax Transparency and Exchange of Information on tax matters rated Jersey as fully compliant in all 10 of the areas reviewed, placing the Island in the top band of countries to have completed both phases of the OECD review process
■ In December 2017, the EU Code of Conduct Group on Business Taxation determined that Jersey is a cooperative tax jurisdiction
■ In 2019, the Economic Substance Law was introduced by Jersey to meet commitments made to the EU Code of Conduct Group
■ Jersey has taken steps to align with the approach taken in the EU Directive (AMLD5) including access by EU law enforcement authorities and financial intelligence units, and access for financial service businesses and certain other prescribed businesses for corporate due diligence purposes and public access
■ In addition, the OECD’s Forum for Harmful Tax Practices (FHTP) concluded that Jersey’s domestic legal framework was not harmful when reviewed against the OECD’s standards, while the European Council of Finance Ministers (ECOFIN) formally confirms Jersey as a cooperative jurisdiction
■ The United Nations also recognised Jersey’s work on international asset recovery, formally confirming Jersey a cooperative jurisdiction investigations
Jersey is proud to be an award-winning IFC. What sets us apart from other jurisdictions is our forward-thinking approach, first-class regulatory and legal framework, our expert workforce and our political and economic stability.
WealthBriefing Asia Awards
Citywealth International Finance Centre Awards
International Investment Awards
Jersey’s finance professionals are ready to provide a full range of family office services. From managing investments, concierge and travel needs, to providing professional support to the family, assisting with governance, financial reporting, project management, and trustee and corporate services.
Family office solutions in Jersey are available either through working with an established professional services provider, or through a bespoke, specially-focussed organisation on the Island.
Since the Jersey Foundation was introduced in 2009, it has received positive recognition for appealing to the private client community. It will continue to play a vital role in Jersey’s overall wealth management offering, now and in the future.
The Jersey Foundation’s unique structure for wealth management has clear benefits in terms of duration, capacity and structure. The Jersey Foundation offers better regulatory oversight than similar vehicles elsewhere, while its flexibility means it can create foundations that work for both charitable and non-charitable purposes, or a mixture of both.
International Savings Plans are an innovative savings plan product for multinational employers, available
in Jersey since 1 January 2019.
ISPs enable large multinational companies to set up savings plans in Jersey for non-residents. These plans differ from traditional pensions offered to employees. They are more flexible as they allow a payout to employees before the normal minimum pension age, either on termination of employment or on the occurrence of a major life changing event such as redundancy, ill health or divorce.
What sets Jersey apart as an ideal jurisdiction for international employers setting up ISPs is our robust regulatory framework, and political and economic stability. Jersey’s ISP product is approved by the Jersey tax authorities a clear example of our Island’s modern and sophisticated legal framework.
Jersey continues to support the rise in global philanthropy by working with businesses and individuals to help them achieve their philanthropic goals.
Jersey’s forward-thinking approach make it an ideal jurisdiction for the formation and administration of philanthropic structures. Its extensive experience in providing trusts, foundations expertise, and management are all vital for structuring philanthropic activity. Jersey is ready with robust yet flexible structures that help to maximise benefits that support a better future.
Due to the Island’s focussed offerings, Jersey is perfectly placed as a leading provider of Islamic financial services. The Island works with Islamic investors through its legal system, measured regulatory regime, and tax neutral environment.
Jersey Foundations formed since their launch in 2009
Wealth Preservation Asset Protection Philanthropy Privacy
Donated by Warren Buffett to the Bill & Melinda Gates Foundation and four family charities (since 2006)
Donations of US$1million+ in 2015
For future-focussed businesses and individuals, the reasons for moving to Jersey are clear:
■ It has a positive reputation: Jersey is a highly-respected jurisdiction, which offers a well-regulated business infrastructure and a stable economy
■ It’s easy to work with other countries: Jersey offers direct air links to London Gatwick and London City, as well as fast connections to Zurich, Geneva and Paris, with sea links to the UK and mainland Europe
■ It has the best of both worlds: Jersey is outside the EU, but still benefits from being inside the European time-zone
■ It offers a positive lifestyle: Jersey provides an unparalleled quality of life, with beautiful beaches, fine cuisine and an excellent education system
■ It’s world-renowned: Jersey is clearly distinguished as an international centre of excellence, attracting globally-recognised accountants, bankers, lawyers and venture capitalists
■ It has lower tax structures: Jersey tax rates are among the lowest in Europe, with a maximum personal tax rate of 20%. There is low stamp duty on property, no capital gains or inheritance tax, and corporate tax of 0% (10% for certain financial services companies only)
■Its offerings are accessible and forward-thinking: Jersey offers clear access to the world’s best professional service providers, as well as a progressive attitude to the establishment of corporate offices
For further information on relocation, visit www.locatejersey.com