Company Formation in Jersey

How long does it take to form a company in Jersey?

It takes about 4 weeks to set up a company in Jersey, or more depending on the legal complexity of the project.

Procedure to prepare the registration of a company in Jersey

The Jersey company incorporation is very simple. The experts of LegalBison will assist you throughout every step of it:

• Initial consultation and agreement;
• Payment of the full invoice;
• [IF REMOTELY]: Notarization of POA by client;
• Preparation of registration documents;
• Document signed at the notary;
• Official register validity: immediately.

Can I form a company in Jersey remotely?

The whole incorporation process can be conducted remotely with the necessary notarization of documents.

• A Power of Attorney (POA) from (all) partners is needed;
• The POA is sent to you by us based on the services you want;
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization);
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address;
• Jersey being a territory under Great Britain’s sovereignty, it is therefore part of the Hague Convention of the Apostille.

Necessary information to begin with company formation in Jersey

Here are the primary documents you need to set up Jersey company:

• 3 options of your desired name for the company and a company contact email address;
• Names, addresses, and emails of all shareholders and board members;
• Short description of your company’s activity.

Required documents to provide to register a company in Jersey

The minimum set of documents to form a company in Jersey should be constituted of the following:

• Passport copies (scans) of all individuals above, also beneficiary owner if applicable;
• A Power of Attorney (in case of a remote company registration);
• Certified company documents (in case at least one of the shareholders is going to be a foreign company).

Taxation of companies in Jersey

The corporate income tax rate is 0% for both resident and non-resident companies. But, there is a but.

It is important to note that this rate does not apply to financial service companies (10% tax rate), utility companies (20% tax rate), and large corporate retailers (varies depending on the profits, maximum 20%). Company income from property or property development is also taxed at 20%. Any dividend or distribution from the company is taxable in the hands of the shareholder.

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DTAA signed by Jersey for companies

Jersey has full double taxation agreements with:

• Cyprus, Estonia, Guernsey, Hong Kong, Isle of Man Liechtenstein, Luxembourg, Malta, Mauritius, Qatar, Rwanda, Seychelles, Singapore, United Arab Emirates, and the United Kingdom

Jersey has partial double taxation agreements with:

• Australia, Denmark, Faroes, Finland, France (also has a tax information exchange agreement in force), Germany, Greenland, Iceland, New Zealand, Norway, Poland, and Sweden

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Accounting and audit requirements for a company in Jersey

Annual corporate tax returns are compulsory and are to be filed online only. It isn’t possible anymore to file on paper.

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Economic substance and residency requirements for companies in Jersey

A Jersey company must have a registered physical office on its territory.

• PO mailboxes are not allowed;
• The beneficial owner does not have to be a resident. His identity will be disclosed in registries even if using a nominee director and shareholder.

LegalBison offers help with all of the above requirements to anyone who wants to register a company in Jersey. Speak now for free with one of our consultants to get your business started.

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