Jersey is regarded as one of the world’s leading financial centres and offers political and economic stability to investors from across the globe.
The Channel Island also has one of the most sophisticated and transparent financial infrastructures in terms of both regulation and governance which has served to enhance its reputation.
While Jersey is independent, its ties with Britain serve to make it a popular destination for UK investment and savings. Financial governance does in many ways mirror that of the UK, however Jersey has no debt and an ongoing history of financial stability unlike Great Britain.
Jersey is known as tax-neutral, meaning that individuals and companies with interests in the country do not have to modify their activities in order to accommodate tax regulations.
As per the Social Security Tax Law passed in 1974, any income arising from a pension kept in Jersey will be free of tax. There is also no Capital Gains tax, no VAT and no form of Wealth Tax which makes it extremely appealing to wealthy entrepreneurs and financiers.
As of 1st January 2015, Jersey can offer QROPS products to non-residents for the first time since 2006. QROPS in Jersey were previously only made available to those with a UK-based pension who were resident there, but now the financial stronghold can cater for the growing global demand.
The majority of Jersey’s leading financial service providers are either in the process of designing a QROPS, or have already introduced a scheme capable of offering the kind of stability and benefits which could propel it to become the leading jurisdiction within the industry.
Contact one of our advisors for more information, and for an assessment of how a QROPS based in Jersey will work for you.