Jersey

Company FormationJersey

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.

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Why Registera Company in Jersey?

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Taxation

The status of company exempted from taxation.

Inexpensive maintenance

Annual maintenance is inexpensive for the company’s owner.

Assistance

State assistance of international business.

Liberal

There is no currency control.

Hague Convention

The Bailiwick of Jersey signed the Hague Convention (1961).

Currency

No currency control.

Requirementsfor Company Formation in Jersey

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. The most important issues are listed here.

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.

Members

The public company requires 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.

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.

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.

Steps for Registering a Company 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.

Most companies are incorporated as limited liability companies, but investors can also set up a partnership or sole trader.

Prepare the company documents, such as the articles of association and the memorandum. These documents can have a standard form, but we advise clients to request the help of our team of experts to draw up documents tailored to their needs.

Also, prepare other documents, such as certified copies of the company founders’ ID as well as other documents that may be requested.

Register the business. The company is registered with the Jersey Financial Services Commission. The JFSC also registers all business names.

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;

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 as well as tax for your employees, and you will be required to submit manpower returns.

Obtain special licenses: These are required in certain industries, such as agriculture, construction, cosmetic services, the finance industry, food and drink, gambling, healthcare, accommodation, and retail.

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