Welcome to Leyland Cooper Finance - The source for Strategic Solutions in Finance

Jersey

Jersey began its trading as an offshore centre back in the early 1960's.

It is an excellent banking and investment base, with numerous trust and law offices.

It has made its name as one of the most tightly regulated of all offshore territories, but this has not deflected the invasive interest of the UK and EU tax authorities, looking to eliminate "unfair tax competition" within their realm.

Jersey continues to specialise as banking and finance centre with a large offshore fund industry and a well-developed trust sector.


Back to International Company

Main advantages of Jersey incorportation system are :

• Tightly regulated - a well respected centre

• Choice of corporate vehicles and highly sophisticated infrastructure

• No exchange controls

• No restrictions on meetings

• Resident office not required

• Negligible minimum capital requirements

• Beneficial owners not disclosed to public

Regarding trust in Jersey, subsequent amendments include the recognition of 'purpose' trusts in 1996.

This has led to an increase in corporate use of Jersey trusts.

A Jersey trust is governed by the law of Jersey; in the case where the beneficiaries of a Jersey trust are non resident, income arising from sources outside Jersey is not liable to income tax in Jersey, nor are distributions to the beneficiaries

Interest on bank deposits made by the trustees of a nonresident trust is not taxed because of a government concession.

The trustees of a non resident trust are not required to make returns or provide accounts of the trust to the Comptroller of income tax.

Trust accounts must be kept but do not require auditing.