Jersey

Constitutional Position regarding the EU

Jersey is not part of the United Kingdom but it is a dependent territory of the British Crown. The Island has its own democratic system of Government through which it enjoys complete autonomy in domestic and fiscal matters.

Jersey is not a member of the European Union and therefore is not directly subject to European Union financial and taxation rules. It enjoys a special relationship, negotiated under the Treaty of Rome, which allows the Island to be within the Union’s customs territory for the purposes of free trade.

Economy

The Island has an international reputation for its economic and political stability. The financial services industry is a major contributor to the Island’s wealth, with many of the world’s leading banking institutions being represented in the Island. The framework of prudent regulatory legislation that exists in Jersey allows international business to flourish whilst ensuring the Island is not used for undesirable or illegal purposes.

Taxation

Jersey is a low tax area. There are no capital gains, estate or inheritance taxes and non-residents suffer no Jersey income tax on overseas investment income or deposit interest arising in Jersey. There are also no Exchange Controls in Jersey.