Jersey Fact Sheet

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Governing corporate legislation

Companies (Jersey) Law 1991, as amended.

Types of Companies available

Private and Public Limited Companies

Unlimited Companies

Protected Cell Companies

Guarantee Companies

No Par Value Companies

Limited Partnerships

Limited Liability Partnerships

General Partnerships

Separate Limited Partnerships

Incorporated Limited Partnerships

Time-scale for incorporation of private limited companies

Normal incorporation 2-3 days although for an additional fee it is possible to incorporate the same day.

Availability of ready-made companies

Yes.

The regulations governing availability of names

The name of a limited company shall end with the word ‘limited' or the abbreviation ‘ltd' or with the words ‘avec responsabilite limitee' or the abbreviation ‘a.r.l' .

Minimum and maximum number of shareholders

It is possible to incorporate a single member company.

Statutory minimum paid-up capital requirements

£1 (unless a no par value company).

Standard authorised capital

£10,000.

Classes of share available

Share capital may be divided into different classes. ‘No par value' shares may be issued as redeemable. Shares may be fully or partly paid.

Denomination of share capital

Share capital may be denominated in any recognised hard currency.

Residency requirement on shareholders or shareholders' meetings

None.

Information published relating to shares and shareholders

The issued share capital and registered shareholders are available for public inspection.

Minimum and maximum number of directors

Minimum of one for a private company and two for a plc, and no maximum (unless indicated in the company's articles).

Are corporate directors permitted?

Yes, but these can only be provided by a licensed trust and company service provider in Jersey.

Nationality and residency requirements of directors

None.

Nature of the powers of the directors

The directors have all the powers of the company that are not reserved to the members under the law or in the memorandum and articles.

Directors' meetings

The directors may meet at such times and places within or outside Jersey as the directors may determine necessary. Telephone and other electronic meetings are permissible subject to the memorandum and articles.

Information published relating to directors

None.

Must accounts be prepared?

By law financial statements must be produced.

Must such accounts be filed with the financial authorities?

No (unless a public company).

Must such accounts be audited and if so by whom?

No requirement.

Must the company have a registered presence in the territory of incorporation?

Yes, the company must have its registered office in Jersey.

What records must be maintained in the territory and are they available for public inspection?

Documents which must be maintained at the Registered Office, are the registers of members, directors and secretary. Minutes of members' meetings/resolutions. These documents are not available for public inspection.

The information available for public inspection is; the authorised share capital, the issued share capital and registered shareholders.

Can the company make secured loans?

Yes.

Can the company make unsecured loans?

Yes.

What are the limits placed on the company's borrowing powers?

None.

Is there a register of company charges?

No.

Company seal

Not mandatory.

Re-domiciliation provisions

Subject to Article 127H of the Jersey Law, a company incorporated outside Jersey may apply to the Jersey Financial Services Commission for continuance in Jersey similarly a Jersey company may seek continuance under the laws of another jurisdiction.

Taxation

Under Jersey Law, Jersey Companies residing in the island are taxed at the standard rate of 0%. For non-Jersey resident beneficial owners, profits dividended or otherwise at tributed to them from the Jersey Company suffer no further liability to Jersey Tax.

How can I find out more about the costs and uses of Jersey Companies?

Please contact Connie Clark, Managing Director, Jordans Trust Company (Jersey) Limited.
Email: connie_clark@jordans-jsy.com or call + 44 1534 630112 for assistance.

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Jordans Trust Company (Jersey) Limited is regulated by the Jersey Financial Services Commission under the Financial Services (Jersey) Law 1998 in the conduct of Trust Company Business.

Jersey Office Address

Portman House
Hue Street
St Helier
Jersey
JE4 5RP

+44 1534 630112