Jersey

Jersey a premier offshore jurisdiction

Jersey is one of the most respected international offshore finance centres in the world.

Situated in the English Channel between the south coast of England and north west France it has a population of around 87,000 and a land area of 45 square miles. Its close proximity to the United Kingdom and Europe makes it an ideal offshore centre. It has excellent communications, and operating in the same time zone as London makes it very convenient for the world's financial centres.

Jersey, although a dependency of the British Crown, is self-governing, the legislative body being known as the States of Jersey and it has responsibility for all its domestic affairs, including taxation.

Jersey is not a member of the European Union. The Island's special relationship with the European Union is defined by a Protocol attached to the Treaty of Accession of the United Kingdom to the European Community. Any change in these arrangements would require a Treaty amendment which would require the agreement of all the Member States including the United Kingdom.

The Island is, however, a member of the Organisation for Economic Co-operation and Development (OECD) and has been granted an "AAA" ceiling rating from Standard & Poor's.

It has a highly professional infrastructure and an enviable record of fiscal and regulatory prudence. Jersey has no public debt and the rate of income tax has remained constant at 20% since 1940.

The States of Jersey are aware of the need to continually review its legislation to maintain Jersey's reputation as one of the foremost international jurisdictions, and the five main tenets upon which this is based are: stability, security, flexibility, quality and respectability. Recent legislation has included laws to prevent the Island being used for organised crime and money laundering, and to enhance investor protection.

Jersey has maintained a policy of closely vetting those organisations who wish to conduct business from Jersey, which has had the result that only financial institutions of the highest quality have established operations there. The activities of such organisations are serviced by a highly-skilled and qualified professional workforce.