Legislation of Jersey

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List of state regulatory authorities

Corporate info

Legal system
Mixed, largely based on English Common Law, with many French features
Types of entity
Private company limited by shares;
Public company limited by shares;
Branch of overseas company;
General partnership;
Limited partnership;
Trusts;
Foundations;
Protected cell companies
Shelf companies permitted
No
Incorporation timescale for a new company
1 day
Company suffix
Limited or Avec Responsabilité Limitée or the abbreviations Ltd and a.r.l.
Sensitive words
Bank or bankers, investment, corporation, international, associate, association, fund, trust, trustee, united, royal, Queen and King; currency symbols or currency abbreviations, foreign words, internet domain name, invented words, professional qualifications, etc.
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
Register of shareholders, register of directors, minutes of all directors' and shareholders' meetings
Seal required, type of seal
Not required
Redomiciliation (to, from) permitted
Permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
No
Company secretary required
Yes
Residency requirements for a secretary
Yes
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / no requirements
Disclosure to local agent
No
Disclosure to public
No
Beneficiary info disclosure to
Yes

Shares and share capital

Minimum authorized share capital
No requirements
Minimum issued share capital
No requirements
Minimum paid share capital
No requirements
Authorized capital payment deadlines
No requirements
Issued capital payment deadlines
No requirements
Standard currency
Pound sterling
Standard authorized share capital
1
Standard par value of shares
N/A
Shares with no par value permitted
Yes
Bearer shares permitted
No

Taxes

Personal tax
20%
Сorporate tax
0%
Corporate tax (in detail)
The corporate income tax rate is 0%, with a few exceptions when the tax rate is 10% or 20%
Capital gains tax
No
Capital gains tax. Details
No
VAT
5%
VAT. Details
Sales tax on goods and services. Similar to VAT. The tax rate is 5%
Withholding tax
0% (dividend), 0% (interest), 0% (royalty)
Other taxes
Social contributions
Exchange control
No
Government fee
GBP 150
Stamp duty
Charged in relation to real estate transactions at various rates.

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
No
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
No

General information shortly

Location
Western Europe
Total area
118,2 sq. km
Population
105 500 (2018)
Capital
Saint Helier
National currency
Pound sterling
Conditional reduction of currency
GBP
Against USD
1,25 (2024)
Climate, average max and min t°
Temperate; mild winters and cool summers; avg. maximum temperature (July) +30°; avg. minimum temperature (January) 0°
Time difference from Moscow
- 2 hours
Dialing code
+44
State language
English, French
Ethnic groups
Jersey 33%, other Britons 31%, Portuguese 14%, Polish 13%, Irish 2%, French <1%
Literacy rate
99%
History
Jersey history is influenced by its strategic location between the northern coast of France and the southern coast of England. The island's recorded history extends over a thousand years tracing back to Palaeolithic Age. In the 9th century Jersey was invaded by Vikings, and was eventually annexed to the future Duchy of Normandy. King John lost all his territories in mainland Normandy in 1204 to King Philip II Augustus, but retained possession of Jersey and the other Channel Islands. The islands have been internally self-governing since then. During World War II, Jersey was occupied by Germany from 1 July 1940 until 9 May 1945, when Germany surrendered. The event which has had the most far reaching effect on Jersey in modern times, is the growth of the finance industry in the island from the 1960s onwards.
Credit rating
AA-
Government type
Parliamentary democracy
Executive branch
Council of Ministers headed by Chief Minister
Legislative branch
Assembly of States of Jersey (51 members)
Judicial branch
Royal Court, Court of Appeal
Unemployment
5,7%
GDP per capita rank
166 (2017)
Corruption perceptions index rank

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