Relocating to Jersey is appealing to individuals, businesses and families. Jersey has a business-friendly environment and offers an excellent quality of life. It is also a safe and stable environment to raise children, with top class schools and high quality health and leisure facilities for those who like to enjoy a great outdoor, healthy lifestyle.
Advantages for your business
Jersey is a pro-business Island and encourages and supports propositions from high-value, low resource businesses looking to move offshore.
Some key business advantages of relocating to Jersey are:
- Jersey is regularly ranked as one of the top offshore finance centres in the world;
- It is a jurisdiction recognised by the International Monetary Fund (IMF) and Organisation for Economic Co-operation and Development (OECD) so has a highly regarded and well-regulated business infrastructure;
- Major financial centres are only a short flight away, with regular and easy transport connections to London and all key European cities (and beyond!);
- There is a zero-rated corporate tax regime for business (other than financial services businesses, which are taxed at a low-rate of 10%)
- Political and economic stability, with a stable government and independent fiscal systems;
- A strong independent legal system;
- A culture of safety and privacy;
- An international centre of excellence for professional services, with a broad base of highly skilled professional service providers;
- A skilled local workforce;
- Jersey is already outside of the European Union, so is not directly affected by BREXIT; and
- It is a world-class data and telecommunications centre, with the 4th highest rate of fibre optic connections in the world.
Advantages for you
Jersey offers the best of rural and coastal living and has so much to offer those who choose to relocate. Island life is generally more relaxed and there is a greater emphasis on a work/life balance. There is a plethora of things to do and see – and there are lots of excellent bars, restaurants and cafes too!
Jersey has a top class education system. There are excellent public and private schools and the Island provides a safe and secure environment for children to grow up in. Jersey also has a comprehensive health service that offers excellent facilities and high standards of care.
Individual income tax rates are among the lowest in Europe, with a maximum personal tax rate of 20%. There is no capital gains or inheritance tax, and stamp duty is significantly lower than the UK on high-value homes.
Relocation is encouraged by the Government of Jersey. Individuals with an annual worldwide income over £725,000 qualify for relocation with full local residency rights and currently pay income tax on personal worldwide income at the following tiered rates:
- 20% on the first £725,000 of income;
- 1% on all income over £725,000;
- 20% on income generated from Jersey property.
Locate Jersey is a Government of Jersey department which supports inward investment into the island. They can assist with the application process and other non-legal aspects of relocating and setting up a business in Jersey. More information can be found at their website Locate Jersey.
What BCR Law can help with?
BCR Law can help with the following aspects of re-locating to Jersey:
- Relocation, immigration and visa advice;
- Advice on business set-up or relocation including all regulatory applications;
- Jersey employment law advice;
- Trusts and estate planning;
- Applications for individual employees needing to relocate;
- Support in any business and/or high-value residency applications;
- Legal advice on the purchase of any residential, commercial or office premises in the Island; and
- Planning and construction advice for any proposed works to your new home or business premises.
For further information please download our client guide.