Jersey

A Jersey tax-resident company is subject to 0% of the standard rate of corporate income tax on its worldwide income with an exception for the following cases:

• Financial services companies are taxed at 10%
• Utility companies taxed at 20%
• Company income derived from property rental or development in Jersey taxed at 20%
• Large corporate retailers with turnover exceeding 2mil GBP and net taxable income over 500,000 GBP subject to the varied rate of up to 20%.

A non-resident company which satisfies the following conditions is only liable to corporate taxation for the portion of income-generating from Jersey:

• It is managed and controlled outside of Jersey
• It is a tax resident in other jurisdictions
• The highest tax rate levied on any part of its income is at the minimum of 10%

A company can be registered in Jersey under the following forms:

• Public/private limited company by shares
• Limited company by guarantee
• Unlimited company

There are also special corporate vehicles like incorporated cell companies, protected cell companies or limited life companies. The most popular form of companies in Jersey is a private limited company with par value shares.

The Company Law 1991 in Jersey demands at least one director/one shareholder to set up a private company. The maximum of private company’s members is thirty (30). Corporate directors/shareholders are allowed.

There is no specific provision governing the location of company’s directors/members meeting. It could be held in any place.

Details of company’s directors/shareholders are open to the general public.

Registered shares, preference shares, redeemable shares, non-redeemable shares and shares with or without voting rights. Bearer shares are not permitted.

All shares issued are not required to fully or partly paid.

• Maintaining one director/one shareholder at a minimum
• Maintaining a registered office in Jersey and a qualified company secretary
• Filing annual return