Located directly off the coast of Normandy, France sits the Channel Islands. Although technically a part of the United Kingdom, each island is a self-governing entity. One of the two largest islands, Jersey, is quickly becoming a popular spot for expats wanting a life by the sea characterized by Jersey’s own culture - a blend of both Great Britain and France.
At under 50 square miles, Jersey is quite a small island. However, its small size doesn’t mean the island isn’t worthy of living. There’s over 20 miles of coastline to enjoy the cool waters of the British Channel, attracting both British and French alike during the summer months. In addition, Jersey has arguably one of the most interesting and unique pasts of any location in Europe, especially if you’re interested in war history. Lastly, Jersey’s lifestyle is defined by a relaxed, tranquil lifestyle, ideal location and a beautiful climate.
Jersey is quickly becoming a hub for those wanting to relocate to enjoy the Jerseyman way of life. The most popular way to relocate? Jersey’s residency by investment program.
Before introducing you to all the information related to invet in Jersey, if you are considering options for citizenship or recidency by investment programs, contact us!. Our specialized team can help you with all your concerns. Click here.
Let’s dive a bit into what this looks like below.
The Process
All residential purchases and transfers are controlled by the government of Jersey’s housin committee. This means only people who possess government-issued Jersey housing qualifications are allowed to purchase property on the island. Unfortunately, this excludes a large proportion of the world.
- High Net-Worth Individuals
There’s an exception, however. High-net-worth individuals can obtain Jersey’s 2(1)E license, allowing them to purchase property on the island. This will be assessed on an applicant-by-applicant basis on behalf of the government.
- The Net-Worth Exception
For those not yet achieving but wanting to achieve the high-value residence title to purchase property on the island, the applicant needs to make a major contribution to the island’s tax revenues. Currently, the tax contribution needed annually would be around GBP 145,000. This number is calculated on a sliding scale stemming from 20% of the first 725,000 of global income and 1% of all other income after.
Applicants filing to achieve high-value residence status must need to show other financial information with their application. In this information, evidence of enough wealth to produce more than GBP 125,000 in tax revenue is required.
If the applicant is lucky enough to achieve a high-value residence status in Jersey, they can apply to purchase a property like the rest of those living in Jersey. From here, the applicant can seek employment and set up their own business on the island if they so choose. The one requirement of this process is owning at least one residential property worth at least GBP 1.75 million.
This process will vary based on each applicant and their background.
The Benefits
The island of Jersey is truly a one-of-a-kind destination nestled in an idyllic European location.
As we’ve discussed above, Jersey is known for its beaches, climate, history, and others.
However, what other benefits make this island stand out from the rest?
Below is a list of just a few.
- International finance hub
- Investor-friendly environment
- Business-friendly destination
- Flat-rate tax
- Outdoorsman’s paradise
- Nearly crime-free/safe place to live, and others.
So, if you are interested in finding out more about Jersey and its opportunities to develop business, contact us today! Below this article you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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