Investors who open a company in Jersey enjoy not only a straightforward incorporation process but also notable tax advantages, making the jurisdiction suitable for basing all types of businesses, as well as for wealth management purposes.

Jersey is a British Crown Dependency, meaning that the English company law is prevalent, and the same underlying principles apply in the Jersey Companies Law. This can be an advantage for certain international investors who have opened or done business with English companies or with companies based in other British Overseas Territories.

WHY REGISTER A COMPANY IN JERSEY

• The status of company exempted from taxation;
• Annual maintenance is inexpensive for the company’s owner;
• State assistance of international business;
• There is no currency control;
• The Bailiwick of Jersey signed the Hague Convention (1961).

HOW TO REGISTER A COMPANY IN JERSEY

The key steps are briefly listed below:

1. Choose the business structure: most companies are incorporated as limited liability companies, but investors can also set up a partnership or sole trader;
2. prepare the company documents these are the articles of association and the memorandum they can have a standard form, but we advise clients to request the help of our team of experts to draw up documents that are tailored to their needs;
3. prepare other documents these include certified copies of the company founders ID as well as other documents that may be requested;
4. register the business the company is registered with the jersey financial services Commission the JFSC also registers all business names;
5. Obtain the business license: almost all companies will need to apply for a business license, however, some forms of activities do not need this; sole traders can be exempted from it in some cases;
6. Register as an employer: most businesses are registered as employers automatically when they submit the documentation for registration (if they state that they will hire employees); you will need to register to pay Social Security and tax for your employees and you will be required to submit manpower returns;
7. Obtain special licenses: these are required in certain industries, for example in agriculture, construction, cosmetic services, the finance industry, food and drink, gambling, healthcare, accommodation, retail, and others.

JERSEY OFFSHORE COMPANY FORMATION REQUIREMENTS

Investors who are interested in company formation in Jersey need to follow a number of rules for incorporation, as well as the ongoing compliance rules. We list some of the most important issues below:

• Members: the public company required two members and the private one only one member;
• Registered office: the offshore company in Jersey will have a locally registered office that will be its permanent establishment;
• Secretary: the Jersey company needs to have a secretary; a nominated person is also needed in case of financial companies and residency requirements apply in this case;
• Accounting: keeping the company’s financial records is mandatory; annual corporate tax returns are filed by the end of the year following the year of assessment, together with the financial statements for the said year in case of tax resident companies.

The Jersey Financial Services Commission is in charge of regulating the financial services industry and, therefore, all companies that provide these types of services in Jersey, Channel Islands. Our team can give you more details on the available regulations for businesses in this industry and can also help you obtain the needed permits and licenses.

TYPES OF COMPANIES IN JERSEY

An offshore company in Jersey will commonly be used for holding purposes, however, it can also serve as a vehicle for investing in property. One of the most important decisions when locating the company in this jurisdiction will be choosing the most suitable form of company.