Investors who set up a company in Jersey enjoy a stable jurisdiction, an easy set-up process, no restrictions on the nationality of investors, or limitations on foreign ownership, as well as an attractive taxation regime, with most companies being subject to a corporate tax exemption.
If you are interested in setting up a business in Jersey, our team will provide you with the needed incorporation details and will guide you through the mandatory steps.
Our team can also assist you with company formation in Guernsey. Alternatively, we also offer services related to forming a Jersey trust.
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How to open a company in Jersey
Investors follow a set of mandatory steps when incorporating a company, and the ones applicable in Jersey are in line with the requirements set forth by the Financial Services Commission (JFSC). Our team outlines these requirements below:
- Choose the business form: in most cases, this will be the limited company, however, an alternative to the option to set up a company in Jersey is to register a sole trader or a partnership;
- Register: this is done with the Jersey Financial Services Commission and it is preceded by preparing the needed documents;
- Obtain the license: if the company activates in a regulated industry, the founders who open a company in Jersey will need to obtain a license; this is the case for those who offer financial services; our team can give you more details;
- Register as an employer: if the company hires staff, additional steps are in place for the registration to pay social security and taxes for their employees.
|Types of companies
|Limited company, Partnership, Sole trader
Minimum share capital
|No minimum mandatory capital to start a company.
Minimum number of shareholders
|Number of directors
|Local director required
|Mandatory steps for company formation
Registration with the Jersey Financial Services Commission registration portal.
|Residency requirements for foreign company owners
|Time frame for the incorporation (approx.)
Approximately 2 days.
|Corporate tax rate
0%, 10% for financial companies, 20% for utility companies.
|Dividend tax rate
|Not applicable in Jersey.
The Goods and Services Tax (VAT equivalent) has a standard rate of 5% and a reduced rate of 0%.
|Number of Double Taxation Treaties
About 30 partial and full tax agreements with various jurisdictions.
|Annual accounting/filing requirements
Accounting records, annual accounts prepared according to the accounting principles within 7 months of the end of the tax year for public companies and 10 months for private companies.
Business license needed for most businesses. Other industry-specific requirements can apply.
|Tax exemptions or incentives
|The 0% corporate income tax for many types of activities can be seen as a tax benefit in this jurisdiction.
Other steps may be needed, depending on the industry in which the company will activate and whether or not it will be subject to the goods and services tax (GST). Our team highlights the main requirements in terms of taxation below:
- Jersey companies are generally subject to a 0% corporate income tax;
- Financial services companies are taxed at a corporate income tax rate of 10%, while a 20% rate applies to utility companies or those in the cannabis industry, as well as large corporate retailers (those companies with a net taxable profit of more than GBP 500,000);
- A 5% goods and services tax applies on the provision of most types of goods and services (and it has a reduced rate of 0% for some of these);
- Companies that have a taxable supply of more than GBP 300,000 during a twelve-month period (including online retailers that sell in Jersey) need to register for GST purposes.
If you are interested in other issues, such as how to immigrate to Jersey, our lawyers can answer your questions.
Advantages for investors who set up a company in Jersey
As previously stated, Jersey is a jurisdiction that offers multiple advantages to foreign investors. Our lawyers in Jersey summarize some of the most important advantages below:
- The Companies Law, updated regularly to allow for the incorporation of several business forms, and that also includes other advantageous business management regulations, such as an exemption from having to follow complex annual account auditing and filing requirements;
- The tax neutrality offered to companies that activate in most business fields, apart from the several exceptions mentioned above;
- The geographical location, which allows businesses to remain close to their clients in the UK or in the EU;
- Access to professional fiduciary services, as well as incorporation assistance, as the services offered by our local agents;
- Jersey is the largest of the Channel Islands, and it is recognized for its favorable business conditions, however, investors can also incorporate in Guernsey, the westernmost of the islands, which offers similar advantages (we can provide details upon request).
Contact our team who can help you open a company in Jersey. We offer complete assistance and ongoing support.