11 steps to incorporating in Jersey
- Prior to incorporating a Jersey company, our Client i) settles Healy Consultants’ engagement fee ii) signs our engagement letter and iii) provides us all the due diligence documents (passport copies of directors and shareholders, proof of address, and details of company’s intended activities);
- Healy Consultants drafts a detailed company setup plan which will map out by week every step towards project completion. This will help optimize transparency and settle our Client’s expectations;
- Next, Healy Consultants and our Client agree on the optimum corporate structure and the name for the new firm. Our company incorporation team will perform a name search and if available, will reserve it for our Client’s business;
- To proceed with the company incorporation process, Healy Consultants’ preferred Jersey trust company will obtain consent from the Jersey Financial Services Commission (“JFSC”) under the Control of Borrowing (Jersey) Order, 1958 which will require our Clients to submit certain documents, including:
- Full names, residential addresses and occupations of the beneficial owners of the company and
- Confirmation that the beneficial owners have never been bankrupt or associated with a bankrupt company.
- Our experts will then prepare the memorandum and articles of association for the new firm. Although standard forms of these documents are available, Healy Consultants can prepare them to suit our Client’s specific requirements;
- Healy Consultants will prepare the Statement of Particulars on Incorporation, which will indicate the intended company address in Jersey, whether the company will be public or private and whether the standard table of articles has been adopted. Please note, in the case of public companies, information relating to particulars of the first directors of the company and the period to which the first accounts of the company relate will also be disclosed on the statement;
- Healy Consultants’ preferred Jersey trust company will then prepare and submit the application for company incorporation to the Jersey authorities. For this step, a minimum of two persons as subscribers to the Memorandum and Articles of Association will be required in the case of a public company and one person in the case of a private company. If doing so is in the public interest, the Royal Court reserves the right to refuse company incorporation;
- A certificate of incorporation will then be issued. In case our Client decides to change the company name in the future, a new certificate of name change will be issued to be presented in conjunction with the original certificate of incorporation. The company incorporation process will be normally completed within two working days of an application being made to the Registrar of companies. However, upon additional payment of £200 to the Jersey Financial Services Commission (JFSC), the Registrar will complete the process on the same day;
- If our Client wishes to issue shares for his new company or admit guarantor members, Healy Consultants will prepare an application to be submitted to the JFSC along with the company’s incorporation documents;
- Healy Consultants will assist our Client in opening a corporate bank account for their Jersey company. Our Client will deposit the designated share capital applicable to their company’s corporate structure;
- Following engagement completion, Healy Consultants couriers the company kit folder to our Client’s international address, containing the original corporate documents, unopened bank correspondence and a Client feedback survey.
Frequently asked questions
Is a company secretary required for Jersey business incorporation?Yes. A company secretary will be required when our Clients incorporate a Jersey company. Healy Consultants’ designated Jersey trust company will act as our Client’s company secretary.
What are the minimum capital requirements when incorporating a company in Jersey?There is no minimum share capital required for private companies in Jersey. Many of our Clients proceed with only £1 of capital.
Are there any business restrictions for foreigners when incorporating in Jersey?No. Foreigners incorporating in Jersey face no restrictions as to the type of business activity they can perform.