Jersey is one of the main islands forming the Channel Islands group and is located off the coast of the UK and France and is under the administrative control of the United Kingdom as a British Crown Dependency. The island is a financial hub and has a well-developed banking system that attracts customers from across the globe. Jersey also has a very high standard of living and a very safe and secure environment.
Jersey Residency Overview
Jersey has started a program called the “High-Value Residential Regime” to enable High Net Worth individuals to purchase a residential property and set up their residence on the island. All purchase of Residential property is controlled by the state and in case an individual can show benefits to the island exceeding GBP 125,000 per year, he may be granted a residence permit under the “High-Value Residential Regime.”
Jersey’s High Valued Residency program offers two main benefits: a favorable tax rate and the right to buy property in Jersey. New arrivals pay income taxes of 20 percent on their worldwide income up to 725,000 pounds, but just 1 percent on most additional income. They are also entitled to buy a house in Jersey at a minimum price of 1.75 million pounds.
You will gain the same rights as other residents, including the right to set up a business, take up employment, or become an employer. After five years of residing in Jersey, you and your family can apply for permanent residency. After one year as a permanent resident, you also can apply for citizenship).
Jersey is a low tax area/tax haven, so that capital, capital gains, inheritances, gifts, or sales are not taxed. There is no corporate tax either, except on financial service companies and property income companies.
What are the requirements for Jersey Residency?
If you apply to become a high value resident, you must meet the following main criteria:
- your contribution to tax revenues is in accordance with Article 135A of the Income Tax Law
- your residency in Jersey will benefit the Island in some way (usually business or socially)
- you’ll need to show that you have annual worldwide earnings comfortably in excess of £725,000 per year, and this must be sustainable income. The minimum tax payable on your income is £145,000 per year, however this does not guarantee your high value residency status
The Chief Minister can grant entitled status to a high value resident if he is satisfied that doing so will have a social or economic benefit, and is in the best interests of the community. The minister will also ask about your plans for further business activities in Jersey, future local employment, training, diversification and any potential resultant increased tax revenues.
How to get Jersey Residency?
Empire, a leading Professional Services & Advisory Firm focused on immigration and residency offers you a simplified path to apply for the Jersey HVR program and secure approvals within the shortest possible time. With our team of immigration experts, you are assured that your application is in informed hands. If you are interested in obtaining more information about this program, please complete the form. One of our representatives will be in contact with you. You can reach us by phone at +60350331665 or visit our website empireglobal.partners. We also look forward to your emails at firstname.lastname@example.org. We offer clear written contract agreements mentioning the applicable charges including the refund policy, in the unlikely event that the application is unsuccessful.