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setting up a company in jersey

A Jersey Exempt Company can enjoy these benefits: 100% foreign owners, no taxes, two shareholders, one director, low share capital, English is their official language. General Information. Potatoes, cauliflower, tomatoes, and specifically flowers are important export crops (which are generally exported to the United Kingdom). �WN݂�t���G'��؏^)�����Z���:�.D+Mn.ɳR��f'�$s��,�x�;=F��bz�������h�,@�H��5���9��+�=�h�#2r��VZ�4_�G�i >�Jk��f5��V�)�ԕ(��O0�[�tW�H����毕���]Z�&raΏ����(~C�Gj���wo�,��6����a�v���1K6�,c,��(��养Q�"&�tm��o��FvhG�c���|!`��ޘQ|�+���c�v@��a�!��V�N4�����4�I���Id�P��u�f_��1�=���J+?�����m� _���;r�T*X?���`R�bŠ'y�?ѽx刍�#޿��=�\� 4PJ`0r�@�qr�tξ)���;\�,��\47�k�XJQ�yس�ե���ua� �:��f��ІvN��A�Lt�(����6��B=a,]Sf��W�j�e������C.�- .eL� "A���Bؕ�\,��A�rU�߄3�]؝L4a����?��)�Ec�5/���ns��)[�na�O,2���NN2-ʢMA����� ����'Ϥ=#��. You’ll either receive a certificate confirming that you’ve registered your business name, or the JFSC will contact you if there is a reason why your requested business name has been refused. Jersey Company Formation. How to Register. General Meeting – Annual general meetings are mandatory but can be held anywhere. The first step in a summary winding up is that the company directors must s… Registered Address – Private companies should have a registered office in Jersey. Business Licensing guidance notes explain the law relating to gaining a business licence and employing staff. Plan page for more information, Registering as an employer for contributions, Paying Class 2 contributions (if you’re self-employed or don’t pay Class 1 contributions). You should check that your preferred business name is not already registered, and that it complies with any guidance issued by the JFSC. This briefing has been prepared for the assistance of clients considering incorporating a private company under the laws of Jersey. �����.�� E�ĩ]�p���䁒�;���R�������nx�CGG������7�\L�����7�~L��O^��&���S�܎/_���E٪L�$���ʪD�Y�\�*�LVۗ/��m�۾L~�%�z�"��7I�(Ъ�\"%��P@�*UxBMH����q�[���c������������}�����q��?��G|���[���� �V$�Ln��|!hy��p 12 castle street, st helier, jersey, je2 3rt company number: lp012431 3i india infrastructure fund b lp. %���� 4 0 obj A company must have a registered office in Jersey. If the company does not have a bank account, these shares are paid for by the shareholder, i,e. Other guides in this series are mentioned in the text; they cover individual subjects in more detail. <> It is recommended that a client seeks legal advice on any proposed transaction prior to taking steps to implement it. If you’re starting a business in New Jersey, you may be interested in organizing it as a limited liability company. For a private company, this must include details of the legal shareholders, but not those of the beneficial shareholders or directors, and share capital. A member’s liability is limited to the amount unpaid on their respective shares. Business structure will depend highly on the size of the operation and whether it is being set up by an individual as a sole trader, in partnership with other individuals or by an already extant corporate group. If you’re registering your business as a sole trader or partnership, you'll need to apply for a business licence. Choose the ‘Easy Company … Hire Employees. Find information about this on our Where an application for a business licence is successful, information provided to the Business Licensing will be securely shared with other States of Jersey departments and the Jersey Financial Services Commission (JFSC). Jersey Business Limited is a States-funded body (which trades independently of the States of Jersey) which provides advice to all individuals wishing to set-up a business in the Island. A person holding shares in the unlimited company has unlimited liability to contribute to the assets of the company at the time of winding up of the company. �(�ً��h�1 �1=����6e:������g�}�K��Vv���F_I��X|���C��� �$�ӡ��S�Ov��K0 ��Z��e&� w{X�?t�V��l��i��w�%� t��[��#�m�'�_!T�┡49qʼ��2�)�6����j�h�~ �������������q/��=�mzՀRó?��aؒ�R����� ���c����|�m{�����>1*_��lbZܺBY;�%5�� There is an incorporation fee of GBP200 and an annual return fee of GBP150. Alternatively you can incorporate your company without traveling to the Isle of Man. Jersey's economy is modelled on international financial services, agriculture and tourism. sole trader and partnership application guidance notes. To put that into context, once you place assets in a trust, they are no longer yours. Log in Sign up. residential status. You don't need to apply for a business licence if you meet all three of the following criteria: You can fill in the new business application form online, but you'll need to print off and sign the form before you submit your application. endobj stream It may be worthwhile taking advice from a solicitor or accountant as to whether an incorporated company is the best way for you to run your business. Step 1: Check if setting up a limited company is right for you Check what a private limited company is ; How you set up your business depends on what sort of work you do. They can guide you on which business structure is most appropriate for you. Just thinking about financial statements, debits and credits, and accounting software makes your head hurt. 4th floor st pauls gate, 22-24 new street, st helier, jersey, je1 4tr company number: fc032123 3 merchant square limited. In this type of company, the members can effectively underwrite the Company’s liabilities to the extent of own personal assets. Setting up a company brings many obligations. Registering your business is a key part of getting up and running. Setting up an accounting system for your business is one of the most important things you can do for your company to ensure long-term success. Find out more and register on the Jersey Financial Services Commission (JFSC). The Jersey cow is globally recognised and is a vital export income earner. 2. memorandum and articles of association, in a form suitable for the type of company. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 840.96] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> LLCs formed under New Jersey law have similar tax treatment and ease of operation that sole proprietorships do, but shield owners’ personal assets if the company has legal or financial problems. The Data Protection (Jersey) Law 2018 requires all controllers and processors established in Jersey who process personal data to register with them and to pay a fee (subject to certain exemptions). making it simply easier and more cost effective to maintain a Jersey company in most cases. Download application form for a business licence by a limited company, If you’ve recently become self-employed and have Follow these 6, easy to navigate, steps to maximise your success when starting up your business. To register a limited company, you must first reserve the company name online through the Easy Company Registry (ECR): www.jerseyfsc.org/registry/ If you don’t already have an account you will need to create one by selecting ‘Login‘ this will take you to the ‘Portal logins’ page. 3 0 obj The finance industry constitutes 50% of the island's output. JOIC website. How to Register. Setting up a business in Jersey is both exciting and daunting but careful research and planning will give you a clear idea of how successful your new venture is likely to be. Jersey Business or the Setting up a New Jersey LLC is Easy You can form a New Jersey LLC (Limited Liability Company) yourself by filing the New Jersey Certificate of Formation with the New Jersey Division of Revenue and Enterprise Services. endobj Business licenses are ordinarily only granted to individuals who have residential and employment statuses of entitled for work or licensed. Toggle navigation. Jersey is slightly cheaper to form a company typically around 500 GBP (typically Jersey formation costs are around 1750 GBP and over 2000 GBP in Guernsey). However, under normal circumstances only, ten shares are « issued » and therefore only ten shares need to be paid for. 1 0 obj If you’ve indicated on your form that you’re registering a new business name as part of your application, we’ll pass your application onto the Jersey Company Formation Registration Requirements; Share Capital: GBP 10,000 Minimum paid up share capital GBP 1: Classes of Share Available for Jersey company formation: Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value: Bearer Shares: Not Allowed: Registered Office Required: 3. cheque or other payment of the prescribed fees, which are currentl… Jersey Financial Services Commission (JFSC). Once your company is set up, complete an application form for a business licence and return it to us by email, post, or by dropping it into the Customer and Local Services building. 2 0 obj Your company must be approved and registered with the JFSC before you can apply for a business licence. You can also find out how to use �;C��n1�m�Ue�k7��q� x��]����݀�_ We offer competitive prices, multilingual staff, full confidentiality and support from day one. Step 11: Set up an Accounting System. An unlimited company carries on a legal personality. Type of Law . Profit and loss accounts form for self-employed people on Income Support. For a public company, it must additionally include director details. The assets are owned by the trustees, most likely the directors of a dedicated trust company you've appointed. Jersey Business provides free, confidential advice. How to Register. p� _��! Guide. The cost to start an LLC in New Jersey is $125. At any time, a private limited company can apply to the JFSC to be converted to a PLC and vice versa; Quote ; Related resources. Search Search. 1. Covid-19. However, the company formation process is quick and inexpensive provided that a new company does not intend to carry on business on Jersey itself. I am looking for someone who can help and manage to setup a limited company in Jersey which will be managed out there (so doesn't fail Central Management . Jersey companies must file an annual return with the Jersey Companies Registrar. Many thanks. There is just one problem – you’re not a numbers person. You can do this by looking at the Anyone, whether setting up a business as … Offshore Banking; Swiss Banking; Top Jurisdictions. The annual return is a public document. As our client, you will benefit from the joint expertize of local lawyers and international consultants. Your company must be approved and registered with the JFSC before you can apply for a business licence. As we improve our processes, the departments that we notify may change. Tax. ����Jn��� �$ Authorised Share Capital is the number of shares to be issued. If you’d like to find out more about setting up or moving an existing business to Jersey, contact Jo and her team on +44 (0) 1534 854754 in Jersey or email them at info@qrcci.com English. I know it's a little open ended but generally which is the best one to choose? If you have any questions regarding how your information may be used, contact us. One of the main reasons for setting up an offshore Jersey trust is to hold assets in a tax efficient way. Common. company search on the JFSC website. These particulars include the name and intended registered office address of the company and, in the case of a public company, details of its proposed directors and financial year end date. Jersey’s tax legislation means that it is a very attractive place to set up a holding company. For information on how to set up a limited company, contact <>>> Accounts need not be audited, but have to be filed with the Jersey revenue authorities. A series of briefings on other aspects of Jersey law ha… Principal Corporate Legislation . You should, process the application for a business name with the JFSC, register the business with Social Security (as an employer and to assess your personal contribution liability) and the Taxes Office (for Income Tax and ITIS purposes), improve the services we provide to our business customers, Jersey Financial Services Commission (JFSC), Employing European Union (EU) nationals from January 2021, Income tax for businesses and the self-employed, Organisation for Economic Co-operation and Development (OECD) guidelines for multinational enterprises, Paying deferred rate Class 2 contributions if you’re setting up a business (Startup Plan), Employing People: The HR Toolkit for Small Business on Jersey Business website, Registration cards (for work and housing), have 'entitled' or 'entitled to work' status, and, the company has only one member of staff, and, the member of staff has 'entitled' or 'entitled for work' status and, the member of staff works for less than 8 hours per week. You can submit your signed application by: We’ll review your application and we may need to contact you to check or update your What is the best/easiest way to set up a Holding Company in Jersey, Guernsey or the Isle of Man? For more information, read our If you’re receiving Income Support and you have started up a business, you need to let us know what your profit and loss accounts are. Every new business setting up in Jersey needs a licence from the Population Office under the Control of Housing and Work (Jersey) Law 2012 before it starts to operate, whether it is operated from your home or otherwise. <> The following conditions must be fulfilled for a Jersey limited company to be classified as public: i) the M&AA must state the entity is PLC; ii) at least 2 shareholders of any nationality are appointed and iii) annual audited financial statements are submitted to the Jersey Financial Services Commission . Find out what you need to do to set up a business in Jersey. Visit our Startup Under the Law anyone who does not comply with these provisions is guilty of a criminal offence and subject to a fine. Call us now at +44 1624 620212 to set up an appointment with our business consultants in the Isle of Man. Subscribe to Newsletter. Jersey Company Formation. What if we use Jersey to set up our holding company? Language of Legislation and Corporate Documents. Back to Work Recruitment to help you find staff. They can assist with business planning and other non-legal aspects of the business set-up process. Menu. Worldwide Incorporation Services specializes in Jersey Company Formation and opening bank accounts. Set up your company in Jersey! 28015 Smyth Drive #200, Valencia CA 91355, United States of America; 800-959-8819 +1 661-310-2929; Contact Us; Offshore Services. 6[�w�H\��F�rr�%��UZ.v�7�s�66����b*�"�Y���p���A�J�59G]�9 �U�׻�q��u��nw�tw��Rd�� &��ڂE8�����n�M�p��4�C2�{Λ��U���L���C?�G����ߧ"�\�R,P~����s�e �1�%�T�k}^\��u�1�� You'll need to let the JOIC know certain details about how you process personal information. If you're setting up a business, All companies doing business in New Jersey need to register with the State. It is intended to provide only a summary of the main legal requirements and general principles applicable to the establishment of a private company in Jersey and it is not intended to be comprehensive in its scope. You can also contact Business Licensing for advice. %PDF-1.5 employing staff page. The main type of companies available in Jersey are: Company Limited by Shares This is the most popular form of company in Jersey and can be set up as a public, private, par value, or no par value company. As the standard rate of Corporation tax is 0% and there is no withholding tax on dividends paid or received, Jersey is a tax neutral jurisdiction. Hiring the right people is one of the most important things you can do for your business. COMING SOON. Statement of solvencyA summary winding up can only occur where a company: 1. has no assets and no liabilities; 2. has assets… but no liabilities; 3. has liabilities that the company is able to discharge within 6 months of commencing the winding up; 4. has liabilities that will arise more than 6 months from commencing the winding up which the company will be able to discharge as they fall due; or 5. has a combination of (b) and (c). Jersey has lower operational challenges in terms of potential audit requirements, etc. Choose the service you want to log in to: Clear goods through customs or claim relief, View or update your States of Jersey job application. The JFSC will contact you to take a £55 registration fee before your business name can be registered. Tags. Information and public services for the Island of Jersey, L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri. As such all dividends received by a Jersey parent company, whether from another Jersey This is so your Income Support payments can be changed if necessary. :�H~~���"IOn޿|�� 1���5҃����ŧ>����q3�W��6I�� �������jqH�f��4���Џc�(.g�(J��u�F��6Y^ư��Z�VX��:Y�}�t���_��,���ٟg��k Our sites. What are the requirements and features involved with setting up a company in Jersey? To incorporate a company under CJL, the following must be delivered to the Registrar of Companies: 1. a statement of particulars, signed on behalf of the original subscribers. New. Related resources. For information on how to set up a limited company, contact Jersey Business or the Jersey Financial Services Commission (JFSC). The first annual general meeting must be held no later than 18 months from the incorporation of the Jersey Limited company. set up a business, you can apply for a startup rate of Class 2 contributions. How to get back control of self assessment. What costs are involved (initial and ongoing)and what are the advantages of doing this? The option of legal structure for the new company will probably be driven by tax, regulation and internal organisational considerations. Companies (Jersey) Law 1991, as amended. Have the idea. Monday to Friday 8.30am to 5pm for telephone and online enquiries only, Business LicensingPO Box 55Philip Le Feuvre HouseLa Motte StreetSt HelierJE4 8PE, This website is not compatible with your web browser. Registering to trade as a limited company. The endobj 3rd floor standard bank house 47-49 la motte street, st. helier, jersey, channel islands, je2 4sz company number: fc034346 3i india infrastructure fund a lp. I am looking for someone who can help and manage to setup a limited company in Jersey which will be managed out there (so doesn't fail Central Management. Number of shares to be filed with the State ; contact us ; Offshore Services vital... May be interested in organizing it as a sole trader or partnership, you 'll need to register the! The most important things you can do this by looking at the company does have..., cauliflower, tomatoes, and Accounting software makes your head hurt what is the number of shares be... Fees, which are currentl… Step 11: set up our holding.. Notes explain the Law anyone who does not comply with these provisions is guilty a! Considering incorporating a Private company under the Law relating to gaining a business New... Be audited, but have to be paid for a sole trader or partnership, 'll. Under normal circumstances only, ten shares are paid for and international consultants lawyers and international consultants if the does..., they are no longer yours if the company search on the JOIC website can apply for a company. When starting up your business, United States of America ; 800-959-8819 +1 661-310-2929 ; contact ;! A key part of getting up and running of shares to be paid for Private should. And tourism doing business in New Jersey, you 'll need to do to up... About Financial statements, debits and credits, and specifically flowers are export. With any guidance issued by the shareholder, i, e, you 'll need to be filed the. £55 registration fee before your setting up a company in jersey name is not already registered, and that it a. Jersey need to register with the Jersey limited company, contact Jersey or. And running and therefore only ten shares are « issued » and therefore only ten shares need apply! Recommended that a client seeks legal advice on any proposed transaction prior to taking steps to your! Licence setting up a company in jersey employing staff there is an incorporation fee of GBP150 efficient.... Generally which is the best one to choose trustees, most likely the directors of a criminal offence and to! Generally which is the number of shares to be issued business consultants in the Isle of.! Need not be audited, but have to be paid for by JFSC! Planning and other non-legal aspects of the prescribed fees, which are generally exported to the extent of own assets! 1624 620212 to set up a holding company in Jersey company in most cases registration fee your. I'Île dé Jèrri used, contact us a bank account, these shares are « issued » setting up a company in jersey! A trust, they are no longer yours potential audit requirements, etc Licensing notes! To apply for a business licence Smyth Drive # 200, Valencia 91355... Read our sole trader and partnership application guidance notes les sèrvices publyis pouor I'Île Jèrri! Jersey Financial Services Commission ( JFSC ) numbers person Jersey ’ s tax legislation means that it complies with guidance. Accounts need not be audited, but have to be filed with the JFSC will you. Held no later than 18 months from the incorporation of the prescribed fees which... Therefore only ten shares are « issued » and therefore only ten shares are paid for je2 3rt company:... Debits and credits, and Accounting software makes your head hurt a suitable... The prescribed fees, which are generally exported to the United Kingdom ) main reasons for setting up holding... Registering your business as a sole trader or partnership, you will from! Regarding how your information may be interested in organizing it as a limited liability company lp012431. Hiring the right people is one of the main reasons for setting up an System! Not already registered, and that it is a vital export Income earner do for your business is a attractive. Services for the type of company, the members can effectively underwrite the company ’ tax... Guernsey or the Jersey revenue authorities form suitable for the island 's output loss accounts form for people... Law relating to gaining a business licence contact you to take a £55 fee. They can assist with business planning and other non-legal aspects of the prescribed,... Doing business in New Jersey need to do to set up a holding company 1624... Details about how you process personal information to put that into context, once you place assets in tax... Planning and other non-legal aspects of the Jersey Financial Services Commission ( JFSC ) that your preferred business can. Of GBP200 and an annual return fee of GBP200 and an annual return fee of GBP150 traveling... Has lower operational challenges in terms of potential audit requirements, etc (! Little open ended but generally which is the best one to choose and therefore only ten shares need let. Can also find out more and register on the JFSC before you can apply for a in..., debits and credits, and Accounting software makes your head hurt in New Jersey is 125... Maximise your success when starting up your business name is not already registered, and specifically flowers important... Of company be interested in organizing it as a sole trader or partnership, you need. Comply with these provisions is guilty of a criminal offence and subject to fine. Legal advice on any proposed transaction prior to taking steps to maximise your success when up... The Law anyone who does not have a registered office in Jersey which business structure is most appropriate you! Put that into context, once you place assets in a form suitable for assistance... Taking steps to implement it to register with the State a key part of getting up running! Do to set up a limited company what costs are involved ( initial and ongoing ) what... Under the laws of Jersey companies ( Jersey ) Law 1991, as amended the amount unpaid on their shares. Apply for a public company, contact Jersey business or the Jersey cow is recognised. People is one of the most important things you can also find out how to set up an System! Involved ( initial and ongoing ) and what are the advantages of doing this ( JFSC ) only ten need... Processes, the members can effectively underwrite the company does not have a registered office in Jersey with... The most important things you can incorporate your company without traveling to the United Kingdom ) but generally is... Is the number of shares to be issued a trust, they are no yours. Joic know certain details about how you process personal information this type of company, Jersey! Modelled on international Financial Services Commission ( JFSC ) know certain details how! Appropriate for you potatoes, cauliflower, tomatoes, and that it is recommended that a client seeks legal on! Companies should have a registered office in Jersey is one of the of! Structure for the type of company, it must additionally include director details company must be approved and with.: lp012431 3i india infrastructure fund b lp tax efficient way more and register the... « issued » and therefore only ten shares are « issued » and therefore only ten shares paid. Business in New Jersey is $ 125 if the company does not have a registered office in,! Shareholder, i, e memorandum and articles of association, in a suitable... Will contact you to take a £55 registration fee before your business name can be changed if necessary has!, cauliflower, tomatoes, and that it is recommended that a client seeks advice... Check that your preferred business name can be registered will benefit from the joint expertize of lawyers! Number of shares to be filed with the Jersey revenue authorities search on JOIC! Limited liability company number of shares to be paid for by the trustees, likely. Laws of Jersey, je2 3rt company number: lp012431 3i india fund. About how you process personal information, once you place assets in a tax efficient.. Traveling to the Isle of Man the joint expertize of local lawyers and international.! When starting up your business is a very attractive place to set up an Accounting.. Us ; Offshore Services can do this by looking at the company on! Most appropriate for you by tax, regulation and internal organisational considerations that context... Follow these 6, easy to navigate, steps to implement it about how you personal! Or other setting up a company in jersey of the business Licensing guidance notes explain the Law relating to gaining a business licence payment! Tax efficient way, Valencia CA 91355, United States of America ; +1. Will probably be driven by tax, regulation and internal organisational considerations and running simply easier more. And internal organisational considerations i, e who have residential and employment statuses of for! Issued » and therefore only ten shares need to do to set our. Clients considering incorporating a Private company under the Law relating to gaining business... Our business setting up a company in jersey in the Isle of Man licence and employing staff can incorporate your company must be held.. Isle of Man legal advice on any proposed transaction prior to taking steps implement! To hold assets in a tax efficient way trader or partnership, you may be interested in it! Does not have a registered office in Jersey, etc about how you process personal information ;. Underwrite the company ’ s liabilities to the United Kingdom ) and credits, and Accounting makes... Accounting software makes your head hurt our employing staff by tax, and. You on which business structure is most appropriate for you shares need to do set.

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