Redomiciliations to Jersey have just become a little easier

On 15 February 2022, the Jersey Financial Services Commission (the “JFSC”) introduced a?new checklist?for eligible foreign companies wishing to re-domicile/continue to Jersey. The new checklist is a positive step to help streamline the previous onerous process.

Application procedure

To apply for a continuance to Jersey, you now need to submit an incorporation submission on?the JFSC’s?myRegistry?system.

In addition to this, you will also need to provide the relevant continuance-related information and documentation via the “uploader” facility on myRegistry. This will allow the JFSC to collect the key statutory data needed in relation to the continuance.

How to use the checklist

This checklist has been created to simplify the process and lists all of the documents that shall be needed, as well as pre-empting those common errors which can cause applications to be delayed and/or returned. The completed checklist should be submitted via myRegistry together with the continuance documentation.

Quick and effective continuance applications

The JFSC has stated that the standard turnaround time for continuance applications will remain five working days provided that all of the information has been received by them. Fast track applications will be reviewed on a case-by-case basis and will depend on the complexity of the continuance in.

Why Jersey?

• Jersey is regularly recognised as a leading international finance centre and is a commercially attractive jurisdiction to have a company;
• Jersey offers an internationally recognised and well-regulated jurisdiction with established?company?laws?based in a large part on English legal principles;
• The tax rate for most international Jersey companies is zero and there is no capital gains tax; and
• The continuation process has now just got easier.

If you require any information with regard to your company’s proposed continuation/redomiciliation to Jersey, then please do not hesitate to contact us.

www.hatstone.com?

Hatstone is a multi-jurisdictional group providing legal, investment fund administration, fiduciary and corporate services with offices in the British Virgin Islands,?Jersey,?Ireland,?London, Panama and South Africa.