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Jersey Economy

Financial services make up the most part of Jersey economy. Other primary sectors of Jersey economy are tourism, agriculture and e-commerce. Jersey economy has an elevated output per capital with regard to purchasing power parity.

Tourism is important to Jersey economy and has given rise to auxiliary sectors of Jersey economy such as retail and services to name a few, including hotel accommodation and duty-free shopping opportunities. More than half of Jersey was considered agricultural land in 2009, with main agricultural crops in Jersey economy being potatoes and dairy.

Cattle rearing also contribute to the economy of Jersey. The farming and livestock industry in Jersey economy consists of areas such as cattle rearing, pigs, sheep and goats a

Competition within the Jersey economy was regulated in 2005 through the Competition (Jersey) Law 2005. Employment created by the various sectors of Jersey economy adds up to an estimated 53,500 people.

Jersey has been issuing its own Jersey coins and notes. The pound is principally used in Jersey economy, though the Euro is generally accepted. Within the Jersey economy, Scottish notes as well as Guernsey and Bank of English notes circulated.

The absence of Value Added Tax in Jersey economy has encouraged tourism since goods are as a result less inexpensive that in France and the United Kingdom. The manufacturing of videos, lingerie and contract lenses have benefited from the fact there is no VAT in the economy of Jersey. With the absence of the value added tax however, a goods and services tax was introduced into Jersey economy in 2008, which has since increased to 5% in 2011. Jersey economy is generally considered low tax and Jersey economy has a zero-ten regime for companies.

Financial services in Jersey economy are regulated by the Jersey Financial Services Commission. The main international financial services that Jersey economy offer are offshore banking, trust business, money services, fund and asset management, investment business services and enterprise construction, same as Panama companies registration. A series of laws have been introduced into the economy of Jersey to regulate these structures and the provision of these services in Jersey economy.