Relocation, relocation

Relocating to Jersey continues to be a firm favourite amongst those looking to relocate from the UK or to be in close proximity to Europe.

As an independent, low tax jurisdiction which ranks as one of the top offshore finance centres in the world, Jersey is somewhere that not only works for an individual’s wealth but also works for lifestyle reasons too.

It is a beautiful and secure island where traditional values sit at the very heart of everyday life, whilst at the same time offering an ideal base for international businesses and individuals.

Tax and wealth

For high net worth individuals, there is a preferential tax rate available - 20% is placed on the first £625,000 of annual worldwide income and 1% on all income over and above that amount. Annual tax yield must be a minimum of £125,000. Jersey has no Capital Gains or Inheritance taxes, corporate tax is 0% and Jersey's Goods and Services tax is 5%.

Ogier's High Value Residency Team can assist with the legal and regulatory aspects of your relocation to Jersey, the acquisition of your property, estate planning and, if required, the set up of related businesses in Jersey.

High Value Residency

Our High Value Residency team has a leading reputation. We are responsive, professional and discreet, and we are well known for our first class service.

Housing laws govern and restrict who can purchase or rent property, however high net worth individuals can obtain residency permission under the high value residency regime.

An application providing information about an individual’s background and references will be required, alongside a demonstration of his or her ability to pay at least £125k of tax per year.

In assessing applications, the authorities will also consider the wider economic and social benefits including business and social background, likely business activities in Jersey, and other non-economic factors from which the Island may benefit.

Ogier advises both domestic and international clients on buying and selling residential property in Jersey and provide a range of services relating to the purchase and ownership of Jersey property assets.

Our wider services include advising on relocations to Jersey and high value residency applications in conjunction with trusted tax advisers, co-ordinating surveyors, architects, site and property finding professionals as well as private banks to provide a seamless and personal service to our high net worth clients.

Many of our clients invest in developing and/or renovating their Jersey homes and we assist in the negotiation and appointment of designers, architects and other professionals, as well as guiding them through the complexities of obtaining the necessary permits in Jersey.

Where properties are to be leased in the interim, we also advise on issues surrounding short-term rental agreements in conjunction with Population Office consents.

Our client base includes international clients relocating to Jersey, locally based clients buying and selling family homes and investment properties, clients with international property interests and high value residential developers and funders.

Many wealthy or high profile clients are particularly concerned about privacy issues, and we ensure their anonymity is protected at all times.

 

 

About Ogier

Ogier provides practical advice on BVI, Cayman Islands, Guernsey, Jersey and Luxembourg law through its global network of offices. Ours is the only firm to advise on these five laws. We regularly win awards for the quality of our client service, our work and our people.

Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found at www.ogier.com

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