Jersey: Offshore Tax Haven Review (Channel Islands)
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Jersey, British crown dependency and island, the largest and southernmost of the Channel Islands, lying south of England’s coast and 12 miles (19 km) west of the Cotentin peninsula of France. Its capital, St. Helier, is 100 miles (160 km) south of Weymouth, England.
What’s the biggest thing about Jersey, and why is it considered a tax haven? Well, it has ZERO percent corporate tax. This is the place where Apple moved their companies (they were previously set up in Ireland).
Should you consider Jersey as a place to set up your company? Is it a good option?
Today we’re covering everything that you might want to know about this famous UK tax haven.
When it comes to personal taxes you’ll be paying 20%, but there is no capital gains tax.
Jersey is a small island of 97 000 people, but it’s quite accessible from both UK and France.
So, being one of the most famous offshore tax havens Jersey decided to work on their reputation and wants to be »whiter than white». They do not want any negative PR.
This means that forming a company is not so simple, and there are multiple things involved in this process. This will increase your costs, and potentially slow down your operations.
Jersey is part of the EEA so you will have access to good payment processors, also it’s not part of the VAT regime so you can get away without charging VAT, also it gives you access to some good banks. And the main thing, like we already mentioned is that it’s ZERO tax.
So it certainly has a bunch of advantages, but it also has some disadvantages. Is it the right option for you? It is debatable. For the right people Jersey could definitely be a viable option.
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Author: Michael Rosmer
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Nice and interesting video! Question please? Could I open a bank account in jersey but live in England? or open a investment in England to generate passive income?
Years go, I applied for a job there, where your boss, was basically, the Crown (The Islands are owned by the Crown). So, I met the technical qualifications, but they had a minimum net-worth, before they would give you the job, and let you move there. Basically, you have to be rich to work at that job. Weird. I think they were looking for a million dollar net worth, before they would give you the job.
how is this not satire
What about transfer pricing regulations for Jersey? I couldn’t find anything on OECD TP guidelines specifically for Jersey.
A lot of inacuracies…..as a Jersey resident I can assure you that the island is NOT a Tax Haven. I pay more personal tax (income tax) here than I would pay in the UK and the range of financial benefits (top ups for low incomes) are a lot less too. True there is no corporate tax, capital gains or inheritance taxes but the cost of living, especially housing, is much higher than the UK or neighbouring countries. Wages are not especially good, except in the finance sector. Jersey is NOT, and has never been, part of the UK or the European Economic Union. It is self governing in all aspects.
Talk about guernsey & the other channel islands. Are the structures identical to Jersey
Thank you for your excellent videos. Can an offshore bank account be placed in an American trust?
How does this work for a CTA resident?
Thinking about video of isle of man? Living and companies?
Can i open an individual regulated future account in Guernsey or Jersey?
I pay 20% tax in this shitty island the hell are people talking about
I pay 20% tax in this shitty island the hell are people talking about
I think most people like living in a tropical or subtropical climate island instead of Jersey do but I prefer a cooler climate. Don’t know if I would consider jersey I’m still gathering the information at my age.
We would like to stop people depriving the govts of money from rich people, and thus we the majority of people have to pay more! It's immoral.
We need to stop calling them tax havens. These countries have used their intelligence to pay for the infrastructure in a way that does not screw over their citizens and are able to attract investment. The phrase "tax haven" is used by extreme left wingers to try to justify why they are r*ping their own citizens in their own ultra high tax countries
Have you been to Jersey? Are the locals welcoming to ex pats not just the tourists?
I mean of course ex-pats that are legal and contributing to the economy somehow.
What will happen if i marry a real jerseyian woman? will i also be a jersey man and can open up a software startup?
You mention nothing about the open and closed market. You simply don’t understand as much as you make out business fair enough but actually moving to jersey is a lot more complicated
Hello Mike. I am just confused. I wanted to know since I will be working in Jersey soon as a NURSE in your government Hospital there. How many years do I need to work in Jersey in order for me to be eligible to apply for a PERMANENT RESIDENT like what they call ILR in UK?( indefinite leave to remain) hoping to hear from you soon.
5:06 So if I can open a company there (let's say a software company that works online) I can use Jersey's tax structure while staying in another country/my home country ?
Did I get that right ? Thanks for the video by the way.