COMPANY REGISTRATION & BUSINESS SERVICES LTD (CORE)
(Recommended Grade: ★ ★ ★)
Type of entity Resident
Type of law Common
Shelf company availability No
Our time to establish a new company 10 - 14 days
Corporate Taxation 0% -10%
Double taxation treaty access No
Share Capital or Equivalent
Standard currency GBP
Permitted currencies Any
Minimum paid up £1
Usual authorised capital £10,000
Directors or Managers
Minimum number One
Local required No
Publicly accessible records No
Minimum number One
Publicly accessible records Yes
Local or qualified No
Requirement to prepare Yes
Audit requirements No
Requirement to file accounts No
Publicly accessible accounts No
Requirement to file annual return (by 28th February each year) Yes
The Channel Islands are divided into two Bailiwicks; Jersey and Guernsey (which comprises the smaller
islands of Alderney, Sark, Herm and Jethou). Jersey is the largest of the Channel Islands and is
approximately 160 kilometres south of England, but only 22 kilometres from France.
The population of Jersey is approximately 91,000 and effective immigration controls exist to restrict future
Historically The Channel Islands formed part of the Duchy of Normandy and have been in possession of
the Crown of England since 1066 when the Duke of Normandy became King of England. When
Normandy was overrun by the King of France in 1204 the Islands remained in the hands of the King of
England, who continued to use the title of Duke of Normandy until 1259. Accordingly, the constitutional
relationship between the Channel Islands and the United Kingdom is unique. Jersey is not part of the
United Kingdom but a self-governing Crown Dependency which gives the Island constitutional rights of
self government and judicial independence with political and economical stability. The Islands special
relationship with the European Union was ratified by Protocol 3 of the Treaty of Accession of the United
Kingdom to the European Community. Through this Protocol, Jersey complies with the European Union
Directives on trade in industrial and agricultural products, but is not obliged to implement Directives or
Regulations in other areas such as Taxation, Financial Services and European Monetary Union.
Infrastructure and Economy
Whilst the financial services sector provides Jersey’s main source of income, the tourism industry
continues to be important. Air services from Jersey are excellent and services to London being
particularly frequent. There are also flights to many European centres, including Paris and Amsterdam.
English is used in all aspects of the financial and commercial activities of the Island. However, French
remains the official language of the Royal Court of Jersey.
The Jersey Pound is on par with the UK Pound. The Island issues its own notes and coinage that are freely
interchangeable with the UK Pound.
Type of Law
Largely based on English Common Law with many French features.
Principal Corporate Legislation
Companies (Jersey) Law, 1991, as amended, based on the English Companies Act 1948.
Procedure to Incorporate
By submission of the Memorandum and Articles of Association to the Financial Services Commission,
together with notification of the Registered Office address, the names, nationalities and addresses of the
directors and shareholders, character references relating to the beneficial owners and a full description of
the proposed company's trading and/or investment activities.
Powers of Company
A Jersey company has all the powers of a natural person.
Language of Legislation and Corporate Documents
Registered Office Required
Yes; must be maintained in Jersey.
Time to Incorporate
Takes approximately 10 – 14 days; subject to name approval and compliance with the strict regulations
governing the incorporation of Jersey companies.
No; due to disclosure requirement of beneficial ownership and trading activities.
A name that is similar to or identical to an existing company or registered entity. Names of well-known
multi-national companies, without prior written consent. Names that imply illegal activities. Names that
imply royal or government patronage, either local or foreign. Use of the word “International” in a name is
restricted and is to be used only by companies of stature, trading internationally. In addition the
minimum share capital requirement of companies using the word “International” is:
First word of name - £1,000,000
Second word of name - £250,000
Third word of name - £100,000
Language of Name
The name of a Jersey registered company can be in any language using the Latin alphabet as long as the
authorities are advised of the meaning of the name on the application form. The application will then be
granted, or otherwise, under the current guidelines regarding the use of certain words.
Names Requiring Consent or a Licence
The following names or their derivatives require consent or a licence: Jersey, bank, building society,
savings, loans, insurance, assurance, reinsurance, Building Society, Chamber of Commerce, council,
co-operative, trust, trustees, finance, international or their foreign language equivalent.
Suffixes to Denote Limited Liability
A company with limited liability must end its name with Limited or Société Avec Responsabilité Limitee
or the abbreviations Ltd and SARL.
Disclosure of Beneficial Ownership to Authorities
Yes, before incorporation. If beneficial ownership changes the Financial Services Commission has to be
informed immediately. If the owner is a trust, details of the settlors, instigators and trustees are required
before incorporation. If the owner is a public company, a copy of the latest annual report is required.
Authorised and Issued Share Capital
The usual authorised share capital is £10,000 or its foreign currency equivalent, although issued capital
may be nominal e.g. £1. Stamp duty is payable on higher amounts of capital.
Minimum Issued Capital
Equal to the value of the shares issued to the subscribers. Normally one share of £1 paid or its foreign
currency equivalent. All issued shares must be paid in full in cash.
Classes of Shares Permitted
Registered shares, preference shares, redeemable shares, non-redeemable shares and shares with or without
All companies incorporated or becoming first resident from 3rd June 2008 Jersey have a corporate income
tax of 0% unless it is:
Financial Services Entities e.g. bank, trust, financial services company – liable at the 10%
Utility Companies e.g. Electricity, Gas – continue to be taxed at 20%.
Rental and Property Development Companies – continue to be taxes at 20%
A company is regarded as resident in Jersey if it is incorporated in Jersey or its business is managed and
controlled in Jersey unless:
It is managed and controlled outside Jersey in a country of territory where the highest rate at which
the company may be charged tax on any part of its income is 20% or higher.
It is resident for tax purposes in that country of territory.
Double Taxation Agreements
Goods & Services Tax – GST
The States of Jersey introduced a broad based 3% Goods and Services Tax (GST) as from 6 th May 2008
– The Goods and Services Tax (Jersey) Law 2007. GST is a sales tax on domestic consumption of
imported and local produced goods and services it is not intended to be a tax on business and a special
regime applicable to “International Service Entities” or “ISE’s” has been introduced by the law. ISE
status removes the entity from the scope of the GST. ISE status can be obtained by a Jersey Trust
company through an annual registration and fee payment of £200 to the Comptroller of Income Tax who
will maintain a list of ISE’s.
Financial Statements Required
Whilst there is no requirement to file audited financial statements with the authorities, it is important to
note that a company is required to keep financial records, which reflect the financial position of a
If accounting records are kept at a place outside Jersey they must be sent to the company's registered office
in Jersey at not less than 6 month intervals.
The minimum number of directors required by law is one; they may be natural persons of any nationality
and need not be resident in Jersey or bodies corporate providing the corporate entity so acting is required
in Jersey to carry on trust company business pursuant to the Financial Services (Jersey) Law 1998.
A company secretary is required who can be a natural person or body corporate. Can be of any nationality
and need not be resident in Jersey.
The minimum number of shareholders is one. Details of shareholders are available to the general public.
It does not constitute legal or other professional advice. CORE does not accept any responsibility, legal or
otherwise, for any errors or omission.