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JERSEY
- The Ultimate Beneficial Ownership of all Jersey companies is
disclosed to the Financial Services Department at the time of incorporation.
- There are no exchange controls in Jersey and corporations
may transfer funds with complete freedom. Transactions may be carried out in any currency
desired.
- Company names must end with "Limited, the abbreviation
"Ltd", "avec responsibilite limited", or the abbreviation
"a.r.l.". Names must not be undesirable or misleading.
- Advocates and Solicitors of the Royal Court of Jersey,
Chartered or Certified Accountants who are practising in Jersey as a Principal or a
Partner of a Jersey firm are the qualified Subscribers permitted to sign the application
form C(a) for consent to issue shares under the Jersey Borrowing Law 1947 as amended.
- Authorised share capital may be divided into shares of
different classes with different voting, dividend, and other rights. The capital may be
expressed in any currency, the shares in any amount, but each must have a par value. Only
registered shares are permitted. A Company should have at least two members. The minimum
authorised capital is £10,000.00.
- At least one Director and one Secretary, who should not be
the same person, are required. Corporate Directors are prohibited. A Corporate Secretary
may be appointed. Details of Shareholders not Directors are available for Public
Inspection. Alternate Directors may also be appointed.
- Annual General Meetings of both Private and Public Companies
can be held anywhere in the world.
- A Register of all Directors/Officers and Shareholders must
be kept at the Registered Office of the Company.
- The Statutory Books, Records and Minutes of the Company must
be kept at the Registered Office of the Company. A Jersey Company should have a Company
seal, which may be kept at such place as the Directors determine.
- In Jersey, Income Tax is charged at 20% and is levied on
individuals, companies, and partnerships resident in jersey . However, there is no
corporation, capital gains, inheritance, transfer, wealth, or gift tax, estate duty or
value added tax.
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