International offshore company formation

General
Type of Company	Exempt
Political Stability	Good
Standard Authorised Capital	No
Tax on Offshore Profits	Nil
Corporate Requirements
Local Registered Office and Registered Agent Required	Yes
Minimum Number of Directors/Managers	1
Local Directors Required	No
Corporate Directors Permitted	Yes
Minimum Number of Shareholders/Members	2
Local Shareholders Required	No
Corporate Shareholders Permitted	Yes
Company Secretary Required	No
Bearer Shares Allowed	No
Annual Requirements
Filing of Annual Return	Yes, 150
Submit Audited Accounts	No
Min. Annual Tax / Licence Fees	US$300
Shelf Companies Available	No

GENERAL INFORMATION

INTRODUCTION
Jersey is situated off the northwest coast of France. It is about 160 km south of England and only 20 km from France. It is the largest of the Channel (Normandy) Islands, with a total land area is 117 sq. km. The population of Jersey is approximately 82,000 and effective immigration controls exist to restrict future growth. The constitutional relationship between the Channel Islands and the United Kingdom are unique, differing from colonial and overseas dependencies of the Crown. The Islands Parliament and legislative assemblies have the exclusive right to legislate on domestic affairs (including taxation), although Jerseys foreign affairs are the UKs responsibility.

The financial services sector provides Jerseys main source of income, and the tourist industry has always been very important to the Islands economy. There are various other less significant sources of income, including agriculture and fishing.

LANGUAGE
The official language is English although French is widely spoken.

TYPE OF LAW
English Common Law with many French features.

COMPANY INFORMATION

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
Exempt Company

TIME TO INCORPORATE
One Day, but allow ten working days for receipt of documentation.

RESTRICTIONS ON NAME AND ACTIVITY
Names must end with the word "Limited". The following words and their associated activities can not be used: Assurance, Bank, Building Society or any other words deemed sensitive or offensive.

CLASSES OF SHARES PERMITTED
Registered shares, shares of no par value, preference shares, redeemable shares, non-redeemable shares and shares with or without voting rights.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
Yes.

LICENCE FEES
Exempt companies pay an annual licence fee of 600 per year.

FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to file annual audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.