Jersey

Jersey, the largest among the Channel Islands, is nestled between the shores of Britain and France. This strategic location offers both convenience and a laid-back way of life. With its stable economy, appealing tax structure, and a charming environment for raising a family, Jersey is an idyllic destination. Its inhabitants experience a superior quality of life, and the island boasts excellent air travel links.

Jersey’s modern airport and strategic positioning allow it to enjoy frequent and reliable air connections to cities like London, Paris, and Zurich, as well as various airports across the United Kingdom, France, the remaining Channel Islands, and Ireland. Additionally, regular sea routes provide convenient access to both England and France.

• Low Income Tax: Known for its low income tax rates and absence of estate duties.
• Efficient Application Process: Swift and efficient residence application process, typically taking one month.
• High-Value Residence Regime: High-net-worth individuals can obtain the 2(1)E license.
• Major Tax Contribution: Prospective residents must make a significant tax contribution to the island.
• Employment and Business Opportunities: Residents can be employed, establish businesses, and purchase or lease property.
• International Finance Center: Jersey has maintained a stable and high-quality business environment.
• Regulatory Oversight: The Jersey Financial Services Commission administers and develops financial laws.
• Skilled Workforce: Proficient workforce in finance and support industries.
• Integrity and Adaptability: Retains a reputation for integrity while catering to global finance needs.
• Business and Investor-Friendly Environment:
• Strategic Location: Easy access to the UK and mainland Europe.
• Judicial Independence: Attractive for businesses and investors due to self-governance.
• Hosting Corporate Events: Preferred destination for various association and corporate events, particularly in sectors like pharmaceuticals, communication, manufacturing, and finance.

Eligibility Criteria for Jersey Residency by Investment:

Personal Qualifications and Intentions:

• Demonstrate impeccable personal character.
• Prove the potential to benefit Jersey through business or social contributions.

Real Estate Investment:

• Ability to purchase real estate valued at £1,750,000 or more.
• Option to lease or rent a property of this value post-approval.
• Chosen property should serve as the primary residence.

Minimum Tax Obligation:

• Pay a minimum of £145,000 in annual tax.
• Worldwide income subject to taxation after becoming a Jersey resident.
• Minimum annual income requirement of £725,000 (approximately $1 million) based on current tax rates.

Standard Requirements:

• • Applicants must be at least 18 years old.
  • Demonstrate access to the entire investment amount.
  • Prove financial means to support themselves and their families without relying on public funds.

There are a number of fees involved in Jersey’s High-Value Residency Regime, including:

Application fee: £500

Non-refundable processing fee: £10,000

Annual tax contribution: £250,000 (subject to a minimum annual income tax contribution of £170,000 for applicants who were approved prior to 14 July 2023 and arrive before 31 December 2023)

Dependent tax contribution: £50,000 per dependent (over the age of 18)

In addition to these fees, there may be other costs associated with relocating to Jersey, such as legal fees, property purchase costs, and the cost of living.

It is important to note that the Jersey government may also charge additional fees for certain services, such as work permits and visas.

If you are considering applying for high-value residency in Jersey, it is important to speak to a qualified professional to get advice on the specific fees and costs that will apply to you.

• Is Jersey part of the United Kingdom and/or the European Union?No, Jersey is not within the UK or the EU. It has a special self-governed status with connections to both but is not subject to their oversight, making it an independent jurisdiction.Who is Jersey residency best for?Jersey residency is ideal for those genuinely seeking to live in Jersey. It’s suitable for individuals who want quick access to the UK and the EU without the legislative requirements of residing in those regions.What’s the income tax rate in Jersey?

  Investor residents are subject to a 20% flat rate on the first £725,000 of worldwide income, with any additional income taxed at 1%. Jersey does not impose capital gains, wealth, inheritance, or property taxes.

  Which businesses must pay capital gains tax in Jersey?

  While most businesses are exempt from capital gains tax in Jersey, companies in the financial services sector and utility businesses are subject to a 10% rate.

  What is Jersey’s residence by investment program?

  Jersey’s residence by investment program, also known as the Jersey golden visa or High-Value Residency of Jersey, offers high-net-worth individuals the opportunity to live in Jersey, benefiting from its quality of life and favorable tax environment. Over time, residents become eligible for a UK passport.

  What is the application process like for Jersey’s residence by investment?

  The application process involves submitting required documents via post from your country of residence. Approvals typically take 2-4 weeks, although certain cases may take up to 6 weeks.

  How can I get an extension on my Jersey residency?

  Keeping your real estate investment and spending more time in Jersey than elsewhere makes renewing your residence permit straightforward. After 5 years of residency, you can obtain the Indefinite Leave to Remain permit, which represents permanent residence, subject to English and Jersey history and lifestyle knowledge.

  How can I apply for a Jersey passport?

  After residing in Jersey for at least 6 years, you can apply for a Jersey passport, which is equivalent to a British passport and provides access to its benefits.

  Can I bring my family to Jersey with me under the same investment sum?

  – Yes, when you apply for residency by investment in Jersey, you can bring your spouse and children with you to the island under the same investment sum.

  Who is eligible to become a resident of Jersey?

  – High-value residents must be capable of contributing at least £145,000 per year in taxes, purchasing real estate valued at least £1.75 million, and have outstanding financial and social standing that benefits Jersey in some way.

  Who is most likely to be approved for Jersey residency?

  – Given the desirability of Jersey residency, certain factors can enhance your chances of approval, such as voluntary work, contributions to charities, official recognition or awards, media coverage of your activities, and cultural interests or skills that benefit Jersey.

  Is Jersey a tax haven?

  – While some perceive Jersey as a tax haven, it is, in reality, a low-tax jurisdiction. Resident investors pay a minimum of 20% tax on their worldwide income up to £725,000 annually, with all further income taxed at a favorable 1%.

  What are the corporate tax rates like in Jersey?

  – Corporate taxes in Jersey vary by industry, with rates set at either 0% or 10%. For example, regulated financial industry companies and related sectors pay a 10% capital gains tax.

Make Jersey your second home 

Visa-Free Countries

Population:

103,242 (2023 est.)

GDP (per capita):

$62,800 (2023 est.)

GDP (purchasing power parity):

$67,200 (2023 est.)

Capital city: Saint Helier

Time zone: UTC+1 (BST)

Total area: 118 sq km (46 sq mi)

Languages: English (official), French (regional)

Currency: Pound sterling (GBP)

Main industry: Financial services

Schengen/EU: Jersey is not a member of the Schengen Area or the European Union, but it has a special relationship with the UK and the EU. This allows Jersey residents to travel freely between Jersey, the UK and the EU without the need for a passport.

KEY ADVANTAGES

• Favorable Tax Environment: Jersey offers a low-tax jurisdiction, with a flat income tax rate for residents. This provides significant tax savings, making it an attractive destination for high-net-worth individuals and investors.

• High Quality of Life: Jersey boasts a high standard of living, with a beautiful natural environment, excellent healthcare, education, and cultural amenities. The island’s scenic beauty and outdoor recreational opportunities contribute to a high quality of life.
• Strategic Location: Jersey’s proximity to both the UK and the European Union provides residents with easy access to these regions. This strategic location makes it an ideal choice for those seeking quick access to both the UK and the EU while enjoying a more independent tax and regulatory environment.

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Disclaimer
The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.