Jersey: Relocating To Jersey

This briefing note seeks to explain the benefits of relocating to Jersey and sets out in brief the process and commonly asked questions.


Jersey is an affluent low tax, self-governing Crown dependency located just 14 miles from the north western coast of France. The population is about 99,000 and predominantly English-speaking. Jersey enjoys excellent air and sea links to the UK and continental Europe and the facilities for utilities, health services and schooling are first class. The coastline and countryside are varied and beautiful. Jersey's historical heritage is rich and its cultural life is on a par with that available in much larger communities. With its mix of French and English influences, it is no surprise that Jersey is home to a number of noted restaurants. Residents benefit from a relaxed outdoor lifestyle with little or no commuting.

Despite the current economic climate, Jersey still attracts interest from people wishing to relocate to Jersey including hedge fund managers, celebrities and ultra high net worth individuals.

Part of the British Isles but not part of the United Kingdom

Jersey is part of the British Isles but is neither part of the United Kingdom nor a member of the European Union. Jersey does however fall under the sovereignty of the British Crown. Jersey also holds a special relationship with the European Union in that Jersey is treated as part of the European Community for the purposes of free trade in goods but is not otherwise part of the European Union. Jersey customary law is ultimately based on the old law of Normandy but in the areas of business, financial services and commerce the laws are not dissimilar to English law. The economy is strong with no public debt and low unemployment. The 2013 Jersey Annual Social Survey reported that Jersey's unemployment rate stands at 5.7% which is significantly lower than the UK's corresponding figure of 7.6%. The crime rate is low. The political environment is stable.

An attractive option

If you or your clients are looking to personally relocate, or establish a commercial offshore presence, Jersey's reputation as an exclusive island destination, as well as an international financial services centre, with its low taxation, fair and accessible regulatory environment, integrity, public safety and world class service make it a leading contender.

Launching a commercial operation in Jersey

Over the last 50 years Jersey has become a major centre for international financial services. A significant number of the world's top 500 banks have a presence in Jersey and in the 2011 census it was reported that nearly 5,000 banking employees worked in Jersey. Jersey also has a large number of licensed trust and company administrators, investment managers, stockbrokers, advisers, custodians and fund administrators, and a significant presence of all major accountancy firms.

Before setting up a business with a physical presence in Jersey, there are a number of consents that must be obtained. These consents require the business to meet the necessary criteria in terms of regulatory standards, economic benefit and help to maintain Jersey's international reputation as a financial services centre of distinction.

Regulated financial services business

Regulatory consent of the Jersey Financial Services Commission will be required for the establishment or acquisition of any financial services business. This includes; fund management companies, investment advisors, banks and trust and company service providers.

As regards banks, the Island had a long-standing policy of only granting licences to banks which are in the global top 500 by reference to capital base or which are financial conglomerates of equivalent size. This policy was updated in 2009 so that only banks in such category with a strong capital base will be granted such licences.

Work Permits

Work permits are not required for persons from EU Member States, however employees from outside these member states require a work permit pursuant to the Immigration Act 1971 and the Immigration (Work Permits) (Jersey) Rules 1995, the latter as amended by the Immigration (Work Permits) (Jersey) Rules 2012 and the States of Jersey (Amendments and Construction Provisions No 7 (Jersey)) Regulations 2005.

Control of Housing and Work

The Control of Housing and Work (Jersey) Law 2012 ("CHW"), which replaced the previous law being the Regulation of Undertakings & Development (Jersey) Law 1973, is the principal law governing the establishment of new businesses in Jersey. Any proposed new business must first obtain a business licence from the relevant Minister. In determining whether to grant a licence, the Minister will have regard to the need to preserve and maximise the benefits of Jersey's resources, promote a balanced and prosperous economy and to protect its integrity in commercial and financial matters among other considerations. Jersey is very much "open for business" and welcomes new, high quality businesses seeking to establish a presence in Jersey.

Once an employer has obtained a business licence, they must ensure that they have a registration card. Employees will also need a registration card prior to taking up new employment. The registration card is issued by the Population Office and the Social Security Department and states an individual's employment and residential status.

The CHW has created four potential categories of residency that an individual will be assigned and which will be recorded on each individual's registration card:

  1. Entitled individuals are those individuals who have at least ten years of eligible Jersey residency or those granted Entitled residency by the Chief Minister of Jersey, being the leader of the government of Jersey (the "Minister"). A sub-category of the Entitled category includes individuals that hold High Value Residency. Entitled individuals can work in any employment.
  2. Licencesed individuals are those individuals who are considered as essential employees. Licensed individuals can only obtain employment where the employer holds a licence to employ a licensed person.
  3. Entitled for work only individuals are those individuals who have lived in Jersey for five years, are the spouse or civil partner of an individual who is an Entitled, Licensed or Entitled only for work individual or an individual who has been recently divorced from a person who is an Entitled, Licensed or Entitled for work only individual. Entitled for work only individuals can obtain any type of employment.
  4. Registered individuals are those individuals who have been or expect to be a resident in Jersey for three months or more and do not fulfil the eligibility requirements in the other categories listed above. Registered individuals can only be employed by employers that hold a licence to employ registered individuals.

The employer must also apply for a licence to employ additional registered or licensed employees if required.


The level of income tax payable in Jersey is determined by the Income Tax (Jersey) Law 1961 as amended by the Income Tax (Amendment) (Jersey) Law 2013 and the Control of Housing and Work (Transitional and Consequential Provisions) (Jersey) Regulations 2013. There are no "wealth" taxes such as capital gains tax or inheritance tax in Jersey; no stamp duty is levied on equity transactions (save in instances where a transfer of shares in a company that had a right of occupation over real estate in Jersey is made where Land Transaction Tax is payable), while social security payments are capped at a low level.

Corporate Tax

To ensure compliance with the EU's Code of Conduct on Business Taxation and Jersey's policy of positive international relations with the EU and others, Jersey has a flat corporate rate of income tax whereby, subject to the limited exceptions detailed below, the rate of Jersey income tax on company profits is set at zero per cent.

The exceptions to the general tax rate of zero per cent are: -

  1. certain specified domestic Jersey utility companies are required to pay Jersey income tax at a rate of 20% (comprising the Jersey gas, water, electricity, postal and telecoms utilities);
  2. income derived from leasing or ownership of Jersey land is required to be paid at a rate of 20%; and
  3. certain "financial services companies" are required to pay income tax at a rate of 10%.

As defined, "financial services companies" are Jersey tax resident companies which are regulated in Jersey either as banks, administrators or custodians of collective investment funds, or who are authorised to carry out trust company and investment business pursuant to Jersey law. These entities are required to pay income tax at a flat rate of 10% if they carry on that business through a permanent establishment in Jersey.

For this purpose, a permanent establishment requires a physical presence in Jersey or a place of management of the company. The fact that the directors of a company regularly meet in Jersey will not, of itself, make their meeting place a permanent establishment. Neither will the exercise of general office functions such as invoicing operations, management and administration services or the entering into of contracts in respect of a company's business, nor will having the address of the company's registered office in Jersey amount to carrying on business through a permanent establishment in Jersey for these purposes.

On balance, a company will be Jersey tax resident for the purposes of the Income Tax Law if it is incorporated in Jersey or, if incorporated elsewhere, its business is managed and controlled in Jersey.

Personal Tax

The majority of Jersey's residents are required to return income tax in accordance with the Income Tax Law, at a flat rate of 20% of their worldwide income, subject to certain exceptions. One such exception applies in respect of individuals who are granted residency under the sub-category of the Entitled status being the high value residency status (which was formerly known as the K licence) ("High Value Residency"), such individuals are subject to special arrangements.


Those seeking to purchase a residence in Jersey will usually find a number of fine properties on the market. Jersey is, however, a small, predominantly rural island of approximately 45 square miles and demand for the available housing is great. The availability of housing to new residents is controlled through the CHW which has replaced the previous law being the Housing Regulations established pursuant to the Housing (Jersey) Law 1949.

In summary, there are currently two broad categories of housing defined under the CWH:

  • Qualified; and
  • Registered.

Individuals that hold either Entitled or Licensed status can buy, sell or lease any type of property. Entitled for work only individuals can buy any property jointly with an Entitled spouse or civil partner and can lease registered property as a main place of residence. Registered individuals can lease registered property as their main place of residence.

All property sales and leases require the consent of the Housing Minister acting through the Housing Department.

There is currently no prescribed limit on the number of High Value Residency individuals. The Minister will grant an individual, such as a High Value Residency individual, the Entitled status where the Minister is satisfied that a grant is justified on social or economic grounds; as being in the best interests of the community.

In order to obtain status as a High Value Resident, an applicant must normally show that he or she will pay at least £125,000 per annum in Jersey income tax at present rates. Sources of wealth must be disclosed in order to ensure the propriety of the applicant. Regard is also had to an applicant's total net worth in order for the Minister to be satisfied that the applicant has sufficient wealth to generate the expected future tax revenues. A successful applicant may only purchase a high value residence, which has been classified for this purpose. In practice, such properties tend to be £1 million or more in value. A Director of High Value Residency has been appointed to provide an inclusive service for all applicants for High Value Residency.

Consent to lease or purchase a residence may also be granted to persons deemed to be "essentially employed". Such residence is available to professional persons such as bankers, lawyers and accountants as well as nurses, teachers and other public service providers.

Licensed individuals no longer need to own registered housing through a company as was previously the case under the old law; licensed individuals can own property in their own name.

In addition there are a limited number of properties, which for historical reasons, fall outside the CHW and certain other limited opportunities to acquire residence in Jersey.


Unlike other financial centres, Jersey presently has vacant office space of various quality and size. It was reported that Jersey had in 2013 a total of 2,900,000 square feet of office space and of that figure, around 300,000 square feet was empty.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To print this article, all you need is to be registered on

Click to Login as an existing user or Register so you can print this article.

Similar Articles
Relevancy Powered by MondaqAI
Carey Olsen
Carey Olsen
In association with
Related Topics
Similar Articles
Relevancy Powered by MondaqAI
Carey Olsen
Carey Olsen
Related Articles
Up-coming Events Search
Font Size:
Mondaq on Twitter
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).
Email Address
Company Name
Confirm Password
Mondaq Topics -- Select your Interests
 Law Performance
 Law Practice
 Media & IT
 Real Estate
 Wealth Mgt
Asia Pacific
European Union
Latin America
Middle East
United States
Worldwide Updates
Registration (you must scroll down to set your data preferences)

Mondaq Ltd requires you to register and provide information that personally identifies you, including your content preferences, for three primary purposes (full details of Mondaq’s use of your personal data can be found in our Privacy and Cookies Notice):

  • To allow you to personalize the Mondaq websites you are visiting to show content ("Content") relevant to your interests.
  • To enable features such as password reminder, news alerts, email a colleague, and linking from Mondaq (and its affiliate sites) to your website.
  • To produce demographic feedback for our content providers ("Contributors") who contribute Content for free for your use.

Mondaq hopes that our registered users will support us in maintaining our free to view business model by consenting to our use of your personal data as described below.

Mondaq has a "free to view" business model. Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. Once personal data is transferred to our Contributors they become a data controller of this personal data. They use it to measure the response that their articles are receiving, as a form of market research. They may also use it to provide Mondaq users with information about their products and services.

Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. For full details of how this Contributor will use your personal data, you should review the Contributor’s own Privacy Notice.

Please indicate your preference below:

Yes, I am happy to support Mondaq in maintaining its free to view business model by agreeing to allow Mondaq to share my personal data with Contributors whose Content I access
No, I do not want Mondaq to share my personal data with Contributors

Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq:

Yes, I am happy to received promotional communications from Mondaq
No, please do not send me promotional communications from Mondaq
Terms & Conditions (the Website) is owned and managed by Mondaq Ltd (Mondaq). Mondaq grants you a non-exclusive, revocable licence to access the Website and associated services, such as the Mondaq News Alerts (Services), subject to and in consideration of your compliance with the following terms and conditions of use (Terms). Your use of the Website and/or Services constitutes your agreement to the Terms. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever.

Use of

To Use you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.

You may use the Website as an unregistered user, however, you are required to register as a user if you wish to read the full text of the Content or to receive the Services.

You may not modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, link, display, or in any way exploit any of the Content, in whole or in part, except as expressly permitted in these Terms or with the prior written consent of Mondaq. You may not use electronic or other means to extract details or information from the Content. Nor shall you extract information about users or Contributors in order to offer them any services or products.

In your use of the Website and/or Services you shall: comply with all applicable laws, regulations, directives and legislations which apply to your Use of the Website and/or Services in whatever country you are physically located including without limitation any and all consumer law, export control laws and regulations; provide to us true, correct and accurate information and promptly inform us in the event that any information that you have provided to us changes or becomes inaccurate; notify Mondaq immediately of any circumstances where you have reason to believe that any Intellectual Property Rights or any other rights of any third party may have been infringed; co-operate with reasonable security or other checks or requests for information made by Mondaq from time to time; and at all times be fully liable for the breach of any of these Terms by a third party using your login details to access the Website and/or Services

however, you shall not: do anything likely to impair, interfere with or damage or cause harm or distress to any persons, or the network; do anything that will infringe any Intellectual Property Rights or other rights of Mondaq or any third party; or use the Website, Services and/or Content otherwise than in accordance with these Terms; use any trade marks or service marks of Mondaq or the Contributors, or do anything which may be seen to take unfair advantage of the reputation and goodwill of Mondaq or the Contributors, or the Website, Services and/or Content.

Mondaq reserves the right, in its sole discretion, to take any action that it deems necessary and appropriate in the event it considers that there is a breach or threatened breach of the Terms.

Mondaq’s Rights and Obligations

Unless otherwise expressly set out to the contrary, nothing in these Terms shall serve to transfer from Mondaq to you, any Intellectual Property Rights owned by and/or licensed to Mondaq and all rights, title and interest in and to such Intellectual Property Rights will remain exclusively with Mondaq and/or its licensors.

Mondaq shall use its reasonable endeavours to make the Website and Services available to you at all times, but we cannot guarantee an uninterrupted and fault free service.

Mondaq reserves the right to make changes to the services and/or the Website or part thereof, from time to time, and we may add, remove, modify and/or vary any elements of features and functionalities of the Website or the services.

Mondaq also reserves the right from time to time to monitor your Use of the Website and/or services.


The Content is general information only. It is not intended to constitute legal advice or seek to be the complete and comprehensive statement of the law, nor is it intended to address your specific requirements or provide advice on which reliance should be placed. Mondaq and/or its Contributors and other suppliers make no representations about the suitability of the information contained in the Content for any purpose. All Content provided "as is" without warranty of any kind. Mondaq and/or its Contributors and other suppliers hereby exclude and disclaim all representations, warranties or guarantees with regard to the Content, including all implied warranties and conditions of merchantability, fitness for a particular purpose, title and non-infringement. To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. In no event shall Mondaq and/or its respective suppliers be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits, whether in an action of contract, negligence or other tortious action, arising out of or in connection with the use of the Content or performance of Mondaq’s Services.


Mondaq may alter or amend these Terms by amending them on the Website. By continuing to Use the Services and/or the Website after such amendment, you will be deemed to have accepted any amendment to these Terms.

These Terms shall be governed by and construed in accordance with the laws of England and Wales and you irrevocably submit to the exclusive jurisdiction of the courts of England and Wales to settle any dispute which may arise out of or in connection with these Terms. If you live outside the United Kingdom, English law shall apply only to the extent that English law shall not deprive you of any legal protection accorded in accordance with the law of the place where you are habitually resident ("Local Law"). In the event English law deprives you of any legal protection which is accorded to you under Local Law, then these terms shall be governed by Local Law and any dispute or claim arising out of or in connection with these Terms shall be subject to the non-exclusive jurisdiction of the courts where you are habitually resident.

You may print and keep a copy of these Terms, which form the entire agreement between you and Mondaq and supersede any other communications or advertising in respect of the Service and/or the Website.

No delay in exercising or non-exercise by you and/or Mondaq of any of its rights under or in connection with these Terms shall operate as a waiver or release of each of your or Mondaq’s right. Rather, any such waiver or release must be specifically granted in writing signed by the party granting it.

If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect.

Mondaq shall not incur any liability to you on account of any loss or damage resulting from any delay or failure to perform all or any part of these Terms if such delay or failure is caused, in whole or in part, by events, occurrences, or causes beyond the control of Mondaq. Such events, occurrences or causes will include, without limitation, acts of God, strikes, lockouts, server and network failure, riots, acts of war, earthquakes, fire and explosions.

By clicking Register you state you have read and agree to our Terms and Conditions