Temporary relocation to Jersey for finance professionals impacted by Gulf and Mediterranean regional instability

Recent developments in parts of the Gulf region and eastern Mediterranean have prompted financial services firms to consider temporary relocation options for key personnel. 

In response, the Government of Jersey has introduced a policy allowing affected finance professionals to temporarily work from their group’s Jersey office for a period of up to 12 months. The initiative is intended to support business continuity.

The policy allows eligible individuals to continue performing their existing roles from Jersey for up to 12 months where their employer forms part of a group with an established Jersey presence.  

In practice, the policy eases certain Jersey tax, regulatory and legal constraints for financial services groups with affected staff in these regions, helping them maintain operational continuity. 

The concessions available under the policy relate to: 

• personal taxation
• residency permissions
• work and immigration clearances
  
  

Key criteria

Personal taxation

For applicants from the UAE and Qatar, Jersey’s double taxation agreements with those jurisdictions may allow individuals to work in Jersey for up to six months without employment income being subject to Jersey income tax.  

For applicants relocating from other Gulf jurisdictions where no double taxation agreement exists, a similar concession may be available for up to two months under Jersey's short-term business visitor scheme. 

Trading and residency

Jersey's unique residency and trading laws normally require individuals working on the Island to be recorded under the relevant business licence. 

Under the new temporary policy, the Government will facilitate the necessary permissions under the Jersey group's business licence to enable the relocating individual’s existing employer to be recognised under that licence. 

The licence will also record the individual’s temporary residency permission, enabling them to lease residential property in Jersey during their stay.

Immigration

The temporary working policy is available to both Common Travel Area (CTA) nationals (for example: Indefinite Leave to Remain, British and Irish citizens) and non-CTA nationals.

Non-CTA nationals will require immigration clearances before travelling to Jersey. In the absence of an alternative basis (for example: British ancestry) the following will be required on an 'intra company transfer' basis:

• a Jersey temporary work permit; and 
• a UK 'Senior or Specialist Work (Global Business Mobility)' visa

In addition to the key criteria listed above, which applies to all applicants, the Jersey work permit includes further criteria, these include:  

• the applicant must have been working for their employer for 12 months immediately prior to transfer;  
• their role must require company-specific knowledge;  
• they must be at least 18 years of age at the date of application;  
• they must resume employment for the same entity outside Jersey at the end of the transfer period;  
• they cannot return to Jersey on the basis of an intra-company transfer within 12 months;  
• the Jersey group entity must ensure that they are adequately accommodated; and  
• if the applicant’s arrival or departure is delayed, or if the Jersey-based work is terminated early, the Jersey Customs and Immigration Service (JCIS) must be notified 

Jersey work permit applications are made to JCIS.

Applications are processed within three weeks from the date JCIS receives the application and all the required supporting documents. 

If a Jersey work permit is issued, the employee must then apply for a UK visa to enable them to enter the CTA. 

Contractual considerations

The policy allows applicants to remain employed by their existing group employer. It does not require the arrangement to be structured as a formal secondment between the applicant's employer and the Jersey group entity licensed to carry on the Jersey operation. However, applicants may wish to verify whether the basis upon which they are employed in their home territory (including any governmental clearances or permissions) require a formal variation to their present terms.

While in Jersey, the individual may support the Jersey office or original office.