INTRODUCTION TO REGISTERING A COMPANY IN JERSEY
Company formation in Jersey is a well known for its tax friendly enviornment, international banking and financial services centre. Agriculture and tourism are also important industries. Companies incorporated in Jersey are governed by the Companies Law 1991 which is based largely on the English 1948 Companies Act.
Company Registration in Jersey generally takes 2 weeks. Jersey requirements are strict and there is a more detailed application form than for other jurisdictions. Prior approval of a company name is required and this is normally available within 24 hours. The company may end with the words: Limited or Ltd, or with the French equivalent, Avec Responsibilité Limitée or ARL. Ready-made companies are not available.
Register a company in Jersey – Share Capital, Director & Secretary Requirements
Companies are normally registered with an authorised share capital of £10,000 as this is the maximum capital for the minimum stamp duty. Only two shares need be issued. Bearer shares are not permissible. A minimum of one director and two shareholders are required along with a company secretary. A director must be a private individual, though the shareholders may be either private individuals or corporate entities.
Compliance Requirements for Jersey incorporation
All Jersey companies must file an Annual Return in January of each year. A tax-exempt company trading outside of the Island need not file accounts with the Jersey authorities. With regard to taxation, Companies can choose to be ‘resident’ or ‘tax exempt’. Corporate Tax can vary, depending on tax residency as well as a few other issues. There are no capital gains taxes, capital transfer tax, purchase or sales tax or VAT. Stamp duties are levied on the transfer of immovable property (up to 1%) and individual parishes levy property taxes.
How do I proceed with Company Formation Jersey?
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