Jersey Offshore Companies
The Jersey offshore company is a company incorporated in the tax haven of Jersey. This offshore company must be registered by non- residents of the offshore jurisdiction in order for it to earn a tax free status. Offshore legislation in Jersey tax haven prohibits jersey offshore company from doing business with the residents of the islands. Jersey offshore companies are prohibited from engaging in business with Jersey companies. The company formed in Jersey to operate as an offshore company must be a company limited by shares.
Company launching, similar to Belize companies formation, in the tax haven of Jersey can take two (2) working weeks. Registered agents can be employed to incorporate Jersey offshore companies therefore company owners have no need to make a trip to the offshore tax haven. The registered agents are responsible for filing the incorporation documents with the Registrar of Companies in this case is the Jersey Financial Services Commission. The Jersey offshore company must maintain a registered office in the jurisdiction.
The incorporation of a Jersey offshore company requires a minimum of one shareholders and one company director. The company director for a Jersey company must be an individual and there is no obligation to have a director who is a resident of Jersey. Company directors for Jersey offshore companies cannot be corporations.
The tax haven of Jersey has a special tax rate in place for offshore companies. The offshore jurisdiction has introduced what is called a zero/ten tax system which was introduced in Jersey in 2009. Companies incorporated in Jersey tax haven will pay no income tax on profits except those companies which can been incorporated as Financial Services entities which will be companies such as trusts, banks. These companies are liable to pay corporate taxes in Jersey at a rate of 10. Under this new tax scheme development companies such as real estate companies are liable to pay tax rates at 25% whilst utility companies pay taxes at a 20% rate. Companies which maintain a registered office in Jersey and manages its business operation in the offshore tax haven is considered as a tax resident whilst companies whose managed is controlled outside of the tax haven can get taxed at 205 or higher on its annual income.
For the incorporation of a company in the tax haven of Jersey a Memorandum of Association of Articles of Association must be filed with the Registrar of Companies along with a registration fee. Below is the information to be filed for offshore company formation in Jersey:
- The name of the company
- The registered address
- The names, nationalities and addresses of company directors
- The names, addresses and nationalities of company directors
- The authorized share capital of the company
- The business operations to be carried out
- The number of shares to be issued
- The types of shares to be issued
Jersey offshore company names cannot be offensive nor can it be the same as another Jersey company already been registered.
Jersey offshore companies are known for a solid/excellent reputation and can do its business anywhere in the world.