Frequently Asked Questions
Corporate taxation for Jersey companies
What is the current corporate tax regime for companies in 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%
Business operation in Jersey
What types of company can be incorporated in Jersey?
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.
What is the minimum required number of director/shareholder?
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.
Where can a private company hold its meetings of board of directors and company members?
There is no specific provision governing the location of company’s directors/members meeting. It could be held in any place.
Is information in relation to company directors/shareholders made public?
Details of company’s directors/shareholders are open to the general public.
What class of shares permitted to be issued by a private company in Jersey?
Registered shares, preference shares, redeemable shares, non-redeemable shares and shares with or without voting rights. Bearer shares are not permitted.
Are issued shares required to be paid in full?
All shares issued are not required to fully or partly paid.
What are annual compliance requirements to maintain a Jersey private company?
- Maintaining one director/one shareholder at a minimum
- Maintaining a registered office in Jersey and a qualified company secretary
- Filing annual return