Jersey offshore company in 2023
Jersey is an important financial and offshore centre in Europe, home to many high net worth corporations and individuals. As such, the Island offers competitive taxation and regulatory environment to global trading companies and investors.
Please read below for further information on offshore solutions in Jersey.
Advantages to registering a Jersey company
- An offshore company in Jersey is referred to as non-resident or exempt company. In comparison, resident Jersey companies are liable for 20% corporate income tax;
- A Jersey offshore business can conduct international trading through a legally tax exempt entity while retaining good international reputation, in comparison to traditional offshore jurisdictions such as i) Seychelles, ii) BVI or iii) Cayman Islands;
- Taxation burden of a Jersey exempt company is optimized due to lack of i) capital gains taxation, ii) withholding taxation on dividends; iii) accumulated earnings taxes and most importantly iv) corporate income tax;
- An exempt company in Jersey is not required to submit annual financial statements to the Jersey Financial Services Commission;
- Jersey enjoys strong laws and a stable Government that i) supports international arbitration, ii) enforces strong contract law, iii) is a signatory to WIPO and iv) houses laws that protect company investments.
Disadvantages to registering a company in Jersey
- When conducting international business, a Jersey offshore company offers severely limited double taxation treaty access;
- A Jersey company is more expensive to incorporate from A to Z in comparison to other IBC structures;
- To retain tax-exempt status, a Jersey offshore company needs to settle each year a tax exemption fee is £600. Consequently, such structure is cumulatively more expensive to run in comparison to traditional offshore structures.
- Effective 1 January 2019, Jersey entities including i) investment holding companies ii) IP companies iii) trading companies iv) professional service providers and v) funds and other financial services companies are required to employ local staff and lease a physical office.
Best uses of Jersey offshore company
- An offshore company based in Jersey popular when i) conducting international financial services business, ii) engaging in trading with the UK or France or iii) when buying and selling real estate in UK or France;
- The offshore company can house global trademarks and intellectual property;
- By registering an offshore company in Jersey, our Clients can use it as a regional or global holding company and receive regular investment income including dividends and management fees.
Minimal requirements for incorporation
- A Jersey offshore company is incorporated i) within one week and ii) with a minimum of one shareholder and one director;
- The minimum required paid up share capital is £1. Furthermore, personal travel is not required to complete the engagement;
- Healy Consultants legally structures the Jersey offshore company supported with i) a local business address and agent, and ii) an international multicurrency corporate bank account in financial centres such as London, Germany or Singapore.
Annual administrative obligations
- Every offshore Jersey entity must lodge an annual return confirming relevant details of the company, including: i) names and addresses of all directors, ii) address of principal place of business and iii) details of shareholders and their shareholdings;
- An offshore company must appoint a resident company agent and maintain a legal registered office within the Island. The majority of our Clients appoint Healy Consultants’ preferred Jersey offshore company agent to fill these legal obligations.
Offshore company fees and timelines
- Jersey offshore company incorporation costs in year 1 amount to £6,000 and annual company costs in year 2 and thereafter amount to £4,750;
- Average engagement fees for a complete package approximate £13,960 including i) offshore Jersey company formation, ii) opening an international corporate bank account iii) international virtual office address;
- Press this tab to view a sample draft invoice for more details:
For alternative popular offshore jurisdictions, check out this offshore company formation guide
Frequently asked questions
How many Jersey local company directors must my company appoint?Only 1 director is required for setting up the offshore company.
How many shareholders are required for an offshore company in Jersey?Only 1 shareholder is required for starting an offshore company in Jersey.