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Why Jersey makes financial sense

Jersey is a world renowned international finance centre (IFC) and is home to 12,470 industry professionals. As a leading IFC, Jersey is recognised for its strong tradition of corporate governance and regulation, and is internationally recognised as a highly reputable jurisdiction and well respected business centre.

 
 

With an enviable culture of safety and privacy, high quality health and leisure facilities, a world-class education system, globally renowned professional services and with easy access to the UK, Europe and beyond – Jersey is the ideal location for those who want to work in a thriving, international centre of excellence, but who seek a life of more than just work – the work life balance really is achievable!

The successful combination of stability and reliability has kept Jersey at the forefront of global finance for almost half a century. The Jersey Government’s determination to encourage high quality business to the jurisdiction, and the support offered by comprehensive infrastructure of laws and regulations, have combined to instil confidence in investors and in those looking to relocate their business to Jersey.

Mont Orgueil Castle Jersey

Jersey has a unique constitutional position. Although its allegiance is to the British Crown, it is not a part of the UK and is not represented in the British Houses of Parliament. The island’s domestic autonomy has been preserved via charter and convention through 800 years of English history.

Stability

Jersey has its own democratically elected Parliament, which has consistently maintained responsibility for domestic affairs including fiscal matters. Jersey also operates its own judicial system, which is based on common law principles. Furthermore, Jersey is debt-free, with stable reserves and a policy of balanced budgets.

Tax neutrality

Jersey offers a tax-neutral environment, with no Capital Transfer Tax, Capital Gains Tax, Value Added Tax, Withholding Taxes or Wealth Taxes. This provides tax certainty and allows for fiscally efficient cross-border investment.

Regulation

Jersey remains one of the best regulated international finance centres, a position that has been acknowledged by independent assessments from some of the world’s leading bodies including the OECD.

Jersey is fully aligned with the highest standards of the third anti-money laundering EU Directive and was the first offshore finance centres to become a full signatory to the IOSCO Multilateral Treaty, an international benchmark for cross border co-operation between regulators.

The Jersey authorities have signed 42 international tax agreements to date, which assist in building good quality business with those countries and are also a reflection of Jersey’s commitment to comply with international standards.

Substance

Jersey has a visible financial industry in its capital, St. Helier, and employs a quarter of the local workforce. In over five decades, Jersey has developed a breadth and depth to its range of products and services that competing jurisdictions find difficult to match.

Legal system

Jersey’s robust, modern and sophisticated legal framework is the source and foundation of Jersey’s finance industry. Developments and enhancements are continually being made to ensure flexibility and attractiveness to domestic and international markets.

Infrastructure

Jersey offers a comprehensive and robust business and communication infrastructure.

The wealth of experience and expertise offered by Jersey’s highly skilled financial service providers, combined with a world-class infrastructure, gives an unparalleled welcome to businesses and investors alike.

About Jersey

Jersey, at 45 square miles (118 square km) in size, is the largest of the British Channel Islands. The Island is located 85 miles (135 km) south of mainland Britain and 14 miles (22 km) from the coast of France with a population of circa 98,000 (as of 2013).

It is in a central time zone that covers the closing of business in India and Greater China and the opening of business in the US. Jersey has been able to deliver the ideal business conditions for international finance bolstered by its unique constitutional position.

Although Jersey’s allegiance is to the British Crown, it is not a part of the United Kingdom and is not represented in the British Houses of Parliament. The island’s domestic autonomy has been preserved via charter and convention through 800 years of English history.

As a result of that unbroken constitutional position, Jersey proudly possesses its own democratically elected Parliament, which has consistently maintained responsibility for domestic affairs including fiscal matters. Jersey also operates its own judicial system, which is based on common law principles.

If this sounds exciting, and you are working in finance or law – simply get in touch with Kendrick Rose, and they will help you make island living a reality.

 

 
 

 

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