Residency in Jersey
Residents of Jersey are taxed at 20% for the first £725,000 of worldwide income, with a 1% tax charge for any income above. The island does not have inheritance, wealth, corporate, or capital gains tax, making it a popular tax haven for the wealthy.
High net worth individuals can apply for Jersey’s High-Value Residency programme providing they receive a sustainable annual income of a minimum of £725,000 and can therefore contribute at least £145,000 in annual tax payments. Applicants must also own a property on the island, generally in excess of £1.75 million.
Whilst Jersey is not strictly part of the United Kingdom, it is a dependency of the British crown and part of the Common Travel Area agreement. As a Jersey resident, you will gain the right to unrestricted travel within the Common Travel Area (CTA), which includes the UK, Ireland, and The Isle of Man. After holding residency in Jersey for five years, applicants can apply for Permanent Residency and British Citizenship and a UK passport after a total of six years. For these reasons alone, Jersey’s programme is an excellent alternative to the UK’s Tier 1 programme.
Application Procedure: Jersey Residence
Any investor seeking residence in Jersey as a High Value Resident is required to apply to the Director of High Value Residency. The application will be considered on the basis of economic and non-economic factors including annual income, cultural benefits to the local community arising out of approval of the application, and potential media coverage of the investor’s business or social life.
An investor holding ‘Entitled’ status in Jersey can enjoy indefinite leave to remain through passage of time or through application after residing in Jersey for the prescribed period. An immigrant with indefinite leave to remain can then apply for UK citizenship.
Jersey Residence Benefits:
- Enjoy ‘Entitled’ status that permits you to buy, sell, or lease any property, and work without requiring a license to be employed.
- Enjoy unrestricted travel to the United Kingdom when residing in Jersey.
- Convenient and hassle-free travel to the USA, European Union, and other countries.
- Access to quality education and learning system for your children.
- Enjoy the quality healthcare and social services in the island.
- Experience the beauty and splendor of the island with easy access to the United Kingdom as well as the European continent.
- Enjoy option to apply for UK citizenship through naturalization
PROGRAMMES
Related citizenship investment programmes.