Why you should do business in Jersey! - benefits of moving to a business hub!
Date03 October 2022
CategoryGuides & Helpful Hints
Deciding where to establish and conduct business is a question many business owners are asking themselves in the current climate, and Jersey is one location many business owners have decided over the years to relocate to or establish their business on.
There are a number of reasons for this popularity of Jersey as a business hub and this blog will explain some of them but for those who are unaware of Jersey here is an explanation of the Country.
Jersey is a located between England and France and is the largest of the Channel Islands. Jersey has been a Crown Dependency and connected to England since around 1066 when Duke William concurred England and has since been a part of England in some fashion or another. As such Jersey has a long-standing connection to both England and to the rest of Europe making it ideal for a number of different industries the most recent being that of the financial and business space.
Jersey is located in the perfect position to take advantage of both direct connection to the financial centres of Europe and the UK but its time zone also enables a great strength in connection to Asia-Pacific and the UK. Getting to Jersey from the UK is also incredibly easy with over 20 locations in the UK and Ireland there are many points in which to get over from as well as over 30 flights to locations in Europe. This is an easy to get to location which is already well connected to the global business scene.
Jersey is a low taxation location with business rates between 0%-10% depending on certain regulated financial service businesses and it’s an easy to understand tax system. These are some of the lowest rates in all of Europe; meaning its an incredible profitable location to locate your business in to make the most out of your profitability. There is no capital Gains or inheritance tax in Jersey, meaning your workers and yourself keep more of what you earn. The regulator is very approachable making this jurisdiction a brilliant one for both setting up and doing business in as you are able to have open dialogue with them in regards to changes and questions you may have.
Jersey as a Crown Dependency has a separate legal system to that of the UK and from other Channel Islands. This is already a well-established legal system which has been set to the highest of standard internationally making it ideal for business. The separate and smaller legal system that is established in Jersey also makes it ideal due to the quick acting changes that can and have been made to help business on the Island when changes arrive. The Government there listening to the people and makes changes accordingly to help them. The Government on Jersey is also very stable and the changes in party leaderships cause little change in the policy’s which are implemented meaning even with the changing political environment business is unlikely to change all that much making it a much more stable environment to set up or purchase a business in.
Jersey already as a well-established base of professional services to help your business flourish; the likes of lawyers, accountants and financial services businesses. With an already well-established base of professionals you are able to connect and network with some of the biggest global players who also use Jersey as their base helping you to build your contact with the biggest and the best in a number of different industries worldwide. Jersey is already well established with a number of large global banks present on the Island making getting monetary advice mush easer as you are dealing with the biggest players in the banking world putting you at the same advantage for growth as that of the competitors in other locations.
To find out more about business in Jersey go to their Government website: www.gov.je
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