Registration of company on Jersey

How to register company in Jersey

Jersey (officially called the Bailiwick of Jersey) is the largest of the Channel Islands which is located not far from the north-west coast of France (the Cherbourg Peninsula). The distance between the island and England is 160 km. The island with the area of 117 km2 is famous for its picturesque coast. The center of commerce of Jersey is Saint Helier.

The population of the island is inconsiderable in number and is approximately 82 thousand people. In order to curb the growth in the number of residents and avoid overpopulation of Jersey, the authorities introduced strict control over the immigration processes.

While French is the official language in the Royal Household of Jersey, English is the language of the Bailiwick’s business documentation. French is also used in making deals with real estate, which is located in the territory of the island.

The Jersey pound is the official currency of the island. It is possible to freely convert banknotes and coins of Jersey into the British pounds sterling.

Tourism brings great income to Jersey, and water sports are particularly developed and popular. Beautiful views, developed infrastructure, and slightly old-fashioned charm of Jersey make the island even more interesting in terms of tourism.

But at the same time, there is growing interest in the island among businessmen who tend to register company (offshore company) in Jersey.

The apparent reason in favour of this trend is evident national consent, the result of which is the success and prosperity of the island's economy. Therefore, small Bailiwick of Jersey is nowadays characterized by the growth of the economy and is considered as extremely prosperous.

Forms of business in Jersey

International business and investors use one type of companies that is the Jersey Company.

Legislative framework

The company shall be registered in Jersey in accordance with the Companies Jersey Law (1991). The company registered since 1993 can obtain the status of International Business Company (IBC) in Jersey.

Advantages of registering company in Jersey

• The status of company exempted from taxation;
• Annual maintenance is inexpensive for the company's owner;
• State assistance of international business;
• There is no currency control;
• The Bailiwick of Jersey signed the Hague Convention (1961).

Peculiarities of IBC company in Jersey

• The following words and their foreign equivalents can not be used in the company name: Building Society, Jersey, Bank, Savings, Assurance, Loans, Insurance, Reinsurance, Council, Chamber of Commerce, Co-operative, Trustees, Finance, Trust, International;
• It is not possible to select the name for the company similar to the names of well-known international corporations;
• The word Limited (or its French analogue - SARL) should be at the end of the company name;
• The company can conduct activities even with the participation of one director. But provided that the director is natural person. There can be any citizenship of the director. Information about the director is kept by the registered agent and in the state register. These data are not publicly available;
• Any person can become the company’s secretary. But one and the same person can not be both the secretary and the director;
• The meetings of shareholders shall be held annually in the territory of Jersey. The first meeting should be held after the expiry of the period of 18 months after the registration of the company;
• The company can have two and more shareholders, the data on whom are available and stored in the same state register;
• Only registered shares are allowed to be issued.

Taxes, bookkeeping and offshore zones in Jersey

• The offshore company in Jersey is exempted from paying all taxes, which in turn are replaced by license fee, the amount of which is fixed. Regardless of the amount of the declared authorized capital, the fee equals to £ 600. Each year, as of March 31, the amount should be paid by the company.
• IBC company is the tax resident of Jersey, but the tax rate for it is minimal (0.5% - 2%).

The company in Jersey is obliged to:
- submit annual report,
- maintain accounting records.

The cost of the company's maintenance includes submission of the required annual reporting.

In order to register company in Jersey, you need to apply for us. We will help you register company (offshore company ) in any world jurisdiction quickly and at a low price. The client will obtain free consultation concerning all offshore zones in Jersey. It is now easy to buy company in Jersey, and most importantly, it is profitable and promising!