The Island is self-governing, with a stable government, independent fiscal and legal systems and a highly respected reputation as a worldleading international finance centre. Although not part of the EU or the UK, Jersey has strong connections to both, is English speaking and shares the same time zone as the United Kingdom.
Executives and entrepreneurs alike are increasingly attracted to the Island by the financial expertise, access to capital markets and business support from the first-class industry contacts and service providers that Jersey has to offer – some of the world’s leading banks, financial institutions and law firms are based on the Island – managing worldwide assets and helping businesses and wealth to grow.
For families, the safety and privacy that Jersey offers is of the upmost importance, with other key factors in the decisionmaking process including its high-quality healthcare facilities and education system, its rich rural heritage, exceptional produce from land and sea, a first-class range of restaurants and the ability to be home, on the beach, or in breath-taking countryside within minutes of leaving the offce.
Finding a location which benefits your business might be your principal driving force but choosing a place to become home to your family is about much more.
Jersey is a friendly, safe, cosmopolitan community, where traditional values sit at the very heart of a contemporary lifestyle. A beautiful island setting with stunning beaches, coastline and countryside, Jersey offers a lifestyle to suit all tastes. In Jersey, a work-life balance really is achievable.
WELL CONNECTED
Part of the beauty of living in Jersey is that you can enjoy island life and still only be a 40-minute flight away from London. Making trips for business or pleasure has been further enhanced by the recently signed agreement with British Airways, who over the next five years expect to carry over two million passengers between Jersey and London Heathrow. This is particularly powerful as the world opens back up following the COVID-19 pandemic.
There are more than 20 daily flights into key UK cities, as well as flights into Europe, so major financial centres are only a short flight away, putting you at the heart of worldwide travel networks. There are also regular ferry sailings to Poole and Portsmouth in the UK and St Malo in France.
In addition, Jersey has a stable, resilient and highly developed communications network, topping the rankings in the World Broadband Speed League 2021 – recording an average rate of 274.27 Mbps – which is 30% faster than its nearest rival. It was also the first jurisdiction in the world to make 100% pure 1GB fibre (FTTP) available to every broadband user, creating an environment where businesses and people flourish.
JERSEY. FOR BUSINESS. FOR LIFE
Locate Jersey promotes the Island as a place to do business and coordinates the relocation of inward investment businesses and high net-worth individuals (HNWIs) and their families to Jersey.
Providing comprehensive, confidential and free advice, officers work closely with industry bodies, regulators, the private sector and colleagues across the Government of Jersey, to help businesses and HNWIs through the application process and moving to the Island.
BUSINESS RELOCATION TO JERSEY
Jersey has a diverse economy and welcomes successful companies and individuals from any sector (some exceptions do apply) who can bring economic benefit to the Island, contribute to our community and who want to make Jersey their home.
Inward investment into Jersey is vital for a diverse, innovative and competitive economy and the Island has identified target business sectors which align to Government of Jersey plans, the needs of the local community and the Island as a whole.
These include but are not limited to:
- Natural resources and renewable energy
- R&D
- Medical and biosciences
- Financial services
- Tech sector
As a result, the Island is witnessing growth within these target sectors, with businesses establishing physical footprints and communities within the Island. Under Jersey law, to run a business and employ staff in the Island you must have a business licence. To qualify for that licence, you usually need to have lived in Jersey for more than five years and have ‘Entitled for Work’ status to start a business. However, there may be an exception to this if you can show that your business is of significant economic or social value to Jersey, or if the business is specialised and meets a strategic market need.
Any business looking to relocate to Jersey must fulfil certain criteria, although this does not guarantee the success of an application. Other considerations are also taken into account as part of your application, for example relevant legislation/regulation and potential reputational concerns for the Island.
Jersey’s economy can be broadly divided into seven key sectors:
- Financial services
- Legal
- Digital-Tech
- Tourism and Hospitality
- Agriculture and Fishing
- Construction
- Retail
RELOCATING TO JERSEY UNDER THE HIGH VALUE RESIDENCY (HVR) SCHEME
Applications to the HVR scheme by individuals who can bring economic benefit, contribute to the community and who want to make Jersey their home, also need to satisfy a number of criteria. Each application is considered based on the economic and social value that they would bring to Jersey, with only a limited number of consents granted each year. The HVR route is specifically for those who can demonstrate assets of £10 million or more and a comfortable and sustainable annual worldwide income exceeding £725,000 on which they would pay 20% income tax (£145,000), whilst anything over the initial £725,000 is charged at 1% (this is currently under review and will increase in January 2023). Income derived from Jersey property is charged at 20%.
Officers are always on hand to help and assist businesses and individuals during the application process, offering advice on what is required for the application and connecting you to the right people. We always strongly recommend that you take professional tax advice at the earliest opportunity.
- Q0/10% Corporate Tax Regime
- 20% maximum personal tax
- 1.5% Long-Term Care contribution tax (capped at £3,910 per annum)
- Social Security tax (capped at £12,234 per annum)
- 5% Goods and Service Tax (GST)
- 0% Capital Gains Tax (CGT)
- 0% Inheritance Tax (IHT)
Please visit the Government of Jersey website – www.gov.je – for the most up-to-date information on tax rates
