Buying A Business In Jersey
(Residents & Non-Resident)
Legal Requirements
- Social Security requirements
- How to register your company
- Company structures
- Data Protection requirements
- Staffing requirements
So, if you’re ready to buy a company or set up a company in Jersey, this guide is for you.
Let’s dive right in.
Jersey sits in the Bay of St. Malo just 14 miles from the French coast and 85 miles from the south coast of England. Jersey is the biggest of the Channel Islands, a British Crown Dependency, and is defended and internationally represented by the UK government.
Jersey is a British Crown (self-governing) Dependency, has independent control over its internal government, taxation, legislation and is not part of the UK.
The Companies (Jersey) Law 1991 regulates the administration and formation of all companies in Jersey.
Tax and regulatory aspects of Company Law can be very different to the UK, we therefore recommend you seek professional, legal and tax advice when deciding on your Company Structure.
Channel Island Business Brokers has extensive experience in structuring companies for non-residents should you need guidance.
Help and advice for business buyers
If you’re looking to buy a business then Channel Island Business Brokers provide a free, confidential service. We can guide you on which business structure is most appropriate for you.
You may also contact the Jersey Population Office for further advice.
Starting Out
If you become self-employed when you set up or acquire a business in Jersey, you will be eligible for a startup rate of Social Security Class 2 contributions. You can find out more at gov.je website Startup Plan page.
Sole trader and partnership Licences
If you want to start or buy a business in Jersey as a sole trader or partnership, you’ll need a business licence. This is required by law.
Your business must not trade until you receive confirmation that your business license has been granted.
You can download an application form here: Download new business application form
You will need to print off the form, sign and submit by email (Email: [email protected]).
Business Licensing Team (Population Office)
Philip Le Feuvre House
La Motte Street
St. Helier
JE4 8PE.
You will then be contacted in order to check your residential status.
For more information, read our sole trader and partnership application guidance notes.
How to register your business name
Jersey Financial Services Commission will receive your application form.
There will be registration fee and the JFSC will contact you to take payment before your business name can be registered.
Once your business name is registered you will receive a certificate of confirmation. If for any reason your business name is refused, JFSC will contact you directly.
Check that the business name you have chosen hasn’t already been registered, and that you have complied with JFSC guidelines. You can do this by checking the company search on the JFSC website.
How to register as a limited company
Before you can apply for a business licence your company must be approved and registered with the JFSC.
Once you’ve set up your company, you will need to download an application form Download application form for a business licence by a limited company . Please print off, sign and submit by email (Email: [email protected]), drop it in or post to:
Business Licensing Team (Population Office)
Philip Le Feuvre House
La Motte Street
St. Helier
JE4 8PE.
You will be required to register your company to pay Social Security contributions (within two days) if you employ a member of staff for eight hours or more a week.
Registering as an employer for contributions
Paying Class 2 contributions (if you’re self-employed or don’t pay Class 1 contributions)
You’ll need to complete and submit your ITIS (Income Tax Instalment System) four times a year, as follows:
- in April (for January, February and March)
- in July (for April, May and June)
- in October (for July, August and September)
- in January (for October, November and December)
What about Data Protection?
You must Register with the Jersey Office of the Information Commissioner (JOIC). The Data Protection Law in Jersey requires all controllers and processors processing data of a personal nature to register.
IMPORTANT: It is a criminal offence not to comply.
Find out how to register at JOIC website.
Staff Employment
Jersey employment law requires that you:
- Give each member of staff a written contract of employment which sets out all the terms and conditions of employment within 4 weeks of the employees start date
- Comply with minimum wage levels
- Have Employer’s Liability Insurance with certificate displayed
- Every employee has the right - on or before their pay date - to be given an itemised pay statement
You can find out more and employing staff page.
Employers can get help with staff recruitment here: Back to Work Recruitment
Processing your new business
registration data
Once your application for a business licence is successful, your business information will be shared with the Jersey Financial Services Commission (JFSC) and other States of Jersey departments in order to:
- process the business name application with the JFSC
- register your business (as an employer) with Social Security and the Taxes Office (for Income Tax and ITIS)
Conclusion
I hope you enjoyed this guide on the legal requirements for setting up and buying a business in Jersey.
Now I’d like to hear from you:
Which requirement from today’s guide are you going to try first?
Or will you ask of help?
Let me know by leaving a quick comment below right now.
