With a strong financial centre, low taxes, a mild climate and a reputation for attracting successful companies, Jersey – located 100 miles off the south of England and 14 miles from the French coast – has a rich history that demonstrates flair in adapting to an ever-changing corporate world. Relocating to this stunning island, conveniently close to international business centres, but far enough away to embrace a tranquil life, can spell success for you, your business and your family.
The biggest of the Channel Islands, this well-regulated IFC has upheld its winning position as the ‘Best International Finance Centre’ at the WealthBriefing European Awards 2017. There’s much to love about Jersey; from its beautiful landscapes to its strong sense of community and from its vivacity built on decades of hard work to its dedicated driving of global standards in relation to transparency around beneficial ownership.
In spite of only covering a mere 45 square miles, it is a dynamic jurisdiction that is home to 12,470 industry professionals. While subject to the British monarchy, it maintains complete financial and political autonomy, and offers a stable and well-regulated economy. The island holds a strong track record of attracting international businesses – records from 2016 show a continued interest in Jersey as a destination for inward investment – and available data from 2017 indicate that things have continued in the same optimistic direction. Since 2008, more than 1,500 people have been employed by inward investment businesses on the island and Locate Jersey, a provider of comprehensive and confidential advice around setting up a business in Jersey, facilitated 25 companies to gain a licence in 2016.
“Geography plays an important role in Jersey’s investment attractiveness, with the islands connectivity playing a key role.”
A great place to live, develop professionally and belong, Jersey offers low personal tax rates including a lower rate of income tax than the UK , no capital gains (for residents) or inheritance tax and a business-friendly environment. With tax rates amongst the lowest in Europe, and the standard rate of corporate tax standing at 0%, it is no wonder that Jersey adds £14bn to the UK economy, supporting approximately 250,000 British jobs, of which 190,000 come from foreign investment. Additionally, Jersey offers a maximum personal tax rate of 20% with no higher rate bands, social security payments are low compared to many other jurisdictions and there is no stamp duty on equity transactions. Alongside stability and reliability, Jersey’s main attraction is its tax-neutral pooling for FDI, making a normally complex process much quicker and cheaper.
Jersey has always stood outside the EU in spite of the UK joining in 1973, and unless the UK’s discussions to leave the EU turn irreversibly negative, hopes remain high that Jersey’s prosperous finance industry will come out of the divorce unscathed and the islands market access should remain unaffected. Geography plays an important role in Jersey’s investment attractiveness, with the islands connectivity playing a key role. It can be reached within an hour from over 30 UK and European cities and the British Isles has over 40 departure points to Jersey with 12 flights a day from London airports alone. Jersey provides a safe entry into Europe, allowing for a bright future for the Island post-Brexit, and it may well become an increasingly significant gateway for EU-UK and global investment. However, the attraction for inward investment goes much further than just tax and geography.
Known for its scenic beaches and warm summers – where an excellent quality of life matches an excellent business environment – Jersey has continued to display growth even in the midst of what has been termed a ‘global crisis’. This is a sure sign of the confidence it cultivates from investors, keeping it in the limelight as a leading global finance hub for almost 50 years. Jersey was featured in the ‘Best Beach Holidays for 2017’ alongside exotic destinations such as Mexico, Dubai and the Philippines, and last year it came top of a list rating islands in the UK and the Channel Islands. Providing an enviable work-life balance – you can be at home or on the beach within minutes of leaving work – and these lifestyle allowances are still key drivers for inward investment. Jersey’s infrastructure allows inhabitants to get to some parts of the UK quicker than they would from London; it offers the fourth-highest rate of fibre-optic broadband connections, supports a developing digital sector, promotes world-class education, is proud of a renowned health service and has a very low crime rate.
Jersey is a significant centre for UK inward investment, with protection for financiers, well-organised cross-border investment pooling and vigorous regulation, playing a supporting role. Jersey’s high standards and commitment to transparency also stand it in particularly good stead and its robust efforts to develop as a jurisdiction appeals to new global businesses and demonstrates to investors and other stakeholders why Jersey is still considered a top investment location.
Now is the time to channel your energies, your investment and your business into Jersey. Locate Jersey is the government organisation responsible for promoting, attracting and retaining inward investment and developing High Value Residency for Jersey. https://www.locatejersey.com/