Answer ... Jersey companies are tax opaque for the purposes of Jersey law and are generally taxed at a rate of 0 per cent. Jersey companies are required to submit tax returns to the Jersey tax office.

Jersey unit trusts, limited liability partnerships, limited partnerships, SLPs and ILPs are all tax transparent for Jersey law purposes.

Answer ... As noted above, Jersey companies are generally taxed at 0 per cent.

Jersey LLPs are tax transparent entities for Jersey law purposes.

Jersey fund managers structured as companies may fall within the scope of the Economic Substance Law. If so, they may be required to demonstrate that they are directed and managed in Jersey, have an adequate number of employees, expenditure and physical assets in Jersey (potentially provided by its administrator), and its core income generating activities (known as CIGA) is carried out in Jersey.

Answer ... As noted above, Jersey companies are generally taxed at 0 per cent.

Jersey LLPs, Jersey limited partnerships, SLPs and ILPs are all tax transparent entities for Jersey law purposes.

Answer ... The States of Jersey and the US Government have entered into an agreement whereby the Jersey tax office will provide the Internal Revenue Service with any information required to ensure compliance with FATCA. As part of the agreement the 30 per cent withholding tax and account closure requirements of FATCA will not apply in Jersey.

As noted above, FATCA and CRS forms are required to be submitted to the Jersey tax office and the relevant information is then shared with the participating jurisdictions. Separate agreements also exist for the automatic sharing of tax information with Guernsey and the Isle of Man.

Answer ... Given the simplicity of the Jersey tax regime (companies taxed at 0 per cent and limited partnerships/unit trusts being tax transparent) there is no need for complex tax strategies to be adopted with regard to Jersey tax.