Jersey

Population:

87,700

Currency:

Pound sterling; 1 = US$1.77 (mid-2005)

Language:

English

Time zone:

GMT

Centre's expertise:

Private client wealth management, alternative investment funds, private equity, structured finance. Jersey has a +40 year track record and is regulated to international standards (IMF Report 2003).

General requirements

Type of entity

Private exempt

Type of law

Common Law

Shelf company available

No

Time to establish a new company

2 days (2 hour "fast track" service also available)

Taxation

Exempt

Double taxation agreements

Double taxation agreement with UK

Forex restrictions

None

Language & name restrictions on companies

Names must be approved by Registrar. Restriction on sensitive or misleading names

Share capital

Permitted currencies

Any

Minimum paid up

2

Usual authorized capital

10,000

Directors and personnel

Minimum number

1

Local required

No

Company secretary & qualifications

Yes

Shareholders and AGM

Minimum number

1

Disclosure requirements

Confidential disclosure of beneficial owner (to Registry only)

Publicly accessible records

Yes - basic company information (not beneficial ownership)

Obligations for annual meetings

Yes, but may be dispensed with by shareholder resolution

Location of AGM

No restriction

Accounts

Requirement to prepare

Yes

Audit requirements

Public companies and regulated financial services companies only

Account filing obligations

Public companies and regulated financial services companies only

Publicly accessible accounts

Public companies only

Other

Requirements to file annual return

Yes

Change in domicile permitted

Yes

Need to registered office

Yes; offshore companies need a licensed corporate services provider since only residents may incorporate

Number of companies set up in last year

Approximately 2,500

Total number of companies on register

Approximately 33,000