Jersey has a unique constitutional position. Although its allegiance is to the British Crown, it is not a part of the United Kingdom and is not represented in the British Houses of Parliament. Jersey therefore has constitutional rights of self-government and judicial independence.
This independence has allowed the Island’s government to establish a stable political and fiscal infrastructure in which the industry can develop. This has added to the Island’s reputation as a reliable jurisdiction for investors, fund promoters and asset managers from across the globe.
Another reason Jersey has proven to be a popular IFC for so long is the mature and tested legal system. The sophisticated legal framework the Island can boast is at the foundation of Jersey’s finance industry. The continued developments and enhancements being made ensure flexibility and attractiveness to both domestic and international markets. The regulatory system is another area with a proven track record and the Island is internationally recognized as one of the best regulated IFCs.
In terms of substance and what Jersey can actually offer, its strengths lie in the sheer variety of products and services that competing jurisdictions find difficult to match and the tax-neutral environment in which it operates. There is no Capital Transfer Tax, Capital Gains Tax, Value Added Tax, Withholding Taxes or Wealth Taxes, thus providing tax certainty and fiscally efficient cross-border investment.
Jersey Corporate Services Limited (JCSL) is an independent financial services matchmaker that brings together financial service providers with clients such as family offices, HNWI, asset managers, accountants, lawyers and a host of other financial service providers in Jersey and across the globe.