Offshore Company Formation Jersey

Gereral Information about Jersey

Jersey is the largest of the Channel Islands. It covers about 45 sq. miles and the population is approximately 91,000. The capital and financial centre is St.Helier. The Island has a history dating back many centuries and there is evidence of human activity as much as 250,000 years ago. In the tenth century the Island became a possession of the French Duchy of Normandy, as a direct result of which it eventually became a dependency of the British Crown.

Jersey is known as a Bailiwick. The Bailiff is appointed by the Crown and presides over the legislative body, known as the States. He is also the president of the Royal Court. The Lieutenant Governor represents the British monarch. The States consists of 54 elected members, the Lieutenant Governor and the Dean of Jersey. The latter two officers do not have a vote. Jersey is internally self-governing. The British Government is responsible for foreign affairs and defence. The Island is associated with the European Union by virtue of the treaty of accession entered into by the United Kingdom. The main industries are financial services, agriculture and tourism.

Jersey Taxation

In order to meet its international obligation to operate a tax regime, which treats both onshore and offshore companies in the same manner, Jersey is in course of changing its tax regulations. The Jersey exempt company will be phased out between 2008 and 2011. From 2008 all new companies whether owned by residents or non-residents will be taxed at a zero rate.

Jersey Financial Services

The Jersey Financial Services Commission is the statutory body, established in 1998, which regulates the financial services industry. In addition to the regulation of banking, insurance and fund management companies, there is a licensing system for businesses providing company formation and management services and trustee services.

Jersey offshore company regulations
Type of entity	Exempt
Type of law	Common
Corporate taxation	Nil
Double taxation treaties available	No
Share Capital
Usual currency	British pound
Permitted currencies	Any
Minimum paid up	£1
Usual authorised	£10,000
Directors
Minimum number	Usually 2
Local resident required	No
Records publicly available	No
Location of Meetings	Anywhere
Shareholders / Members
Minimum number	2
Records publicly available	No
Location of Meetings	Anywhere
Company Secretary
Required	Yes
Local or qualified	No
Accounts
Required	Yes
Audit required	No
Filing required	No
Publicly available	No
Other
Annual return required	Yes
Change of domicile permitted	No

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Offshore Company Formation Jersey

Share Capital

Directors

Shareholders / Members

Company Secretary

Accounts

Other