JERSEY OFFSHORE INFORMATION

One of the most if not the most highly respected jurisdiction suitable for all types of companies such as high profile trading companies or investment companies. Can be expensive. Disclosure of the beneficial owner to the Jersey authorities is required.

ADVANTAGES	Probably the most highly respected offshore centre, seeking only the cream of the business. Highly sophisticated infrastructure of trust companies, banking services, accountants etc. Recently introduced legislation allows control and management from Jersey.
DISADVANTAGES	High respectability and sophisticated infrastructure comes at a high price
CORPORATE LEGISLATION SOURCE	The Companies (Jersey) Law 1991
COMPANY STATUS	Resident - Taxed at 20% of profits Exempt - Taxed at flat rate of £600 p.a.
USUAL MINIMUM CAPITAL	£2
COMPANY NAME	Prior approval required. Many words sensitive eg Bank, Trust etc. Must end 'Limited'
TIME TAKEN TO INCORPORATE	7- 10 days. Same day urgent incorporation available
ARE SHELF COMPANIES AVAILABLE	No
CAPITAL DUTY	0.5% (With a minimum of £50) + Judicial Fee £130
MINIMUM NUMBER OF SHAREHOLDERS	Two
ARE BEARER SHARES / SHARES OF NO PAR VALUE POSSIBLE?	No / No
DIRECTORS: MINIMUM NUMBER / CORPORATE DIRECTORS ALLOWED / LOCATION	Two / No / No restriction
SECRETARY: MANDATORY / CORPORATE SECRETARY ALLOWED / LOCATION	No but usual / Yes / No restriction
IS THERE A REQUIREMENT FOR A REGISTERED OFFICE / REGISTERED AGENT	Yes / No
IS THERE A REQUIREMENT BY THE AUTHORITIES PRIOR TO INCORPORATION OR PRIOR TO TAX STATUS BEING GRANTED	Beneficial ownership must be disclosed to the authorities and references may be required
INFORMATION AVAILABLE ON PUBLIC FILE	Shareholders, Registered Office, Annual Returns
DOCUMENTS TO BE KEPT AT REGISTERED OFFICE	Register of Directors and shareholders
CORPORATE BOOKS AND SEAL	Both required and usually retained at the Registered Office
ACCOUNTS REQUIRED / FILED	Resident - Yes / Only for revenue authority Exempt - No / No
ANNUAL RETURN REQUIRED	Yes
WHERE ARE MEETINGS TO BE HELD	Annual General Meetings of Shareholders in Jersey, otherwise no restrictions
ANNUAL FEES PAYABLE TO THE GOVERNMENT: TAX / ANNUAL RETURN FILING FEE	Resident - 20% profits / £150 by 28/2 Exempt - £600 by 31/3 / £150 by 31/1 Late Penalties: £100 paid by 31 March. £100 further penalty later than 31 March. Strike off for non-payment 31 October
ARE THERE ANY EXCHANGE CONTROLS	None
DOUBLE TAX TREATIES	UK and Guernsey