The idyl­lic is­land

Smith & Wil­liamson spe­cialises in look­ing af­ter clients with com­pli­cated, multi-ju­ris­dic­tion re­quire­ments

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JERSEY, an is­land only 14 miles from France and the ben­e­fi­ciary of the warm­est weather in the Bri­tish Isles, has many award-win­ning, beau­ti­ful beaches, breath­tak­ing scenery and fine-din­ing op­tions, blend­ing fam­ily life in the coun­try with the dy­namism of one of the world’s lead­ing fi­nan­cial cen­tres. The is­land man­ages to main­tain a re­laxed, small com­mu­nity har­mony with a hugely cos­mopoli­tan feel and an ac­tive and highly pro­fes­sional busi­ness com­mu­nity. With more than 20 com­mer­cial flights a day and fa­cil­i­ties for pri­vate in­ter­na­tional flights, it is also easy to main­tain UK and in­ter­na­tional con­nec­tions.

For those fac­ing a cap­i­tal event, such as the po­ten­tial sale of a busi­ness or other high­value as­set, mov­ing per­ma­nently to a lo­ca­tion with a favourable tax regime is prov­ing in­creas­ingly pop­u­lar and many In­ter­na­tional Fi­nance Cen­tres (IFCS) such as Jersey are ac­tively com­pet­ing to at­tract tal­ented, wealthy in­di­vid­u­als.

Jersey is prov­ing a par­tic­u­larly at­trac­tive choice for many peo­ple thanks to its won­der­ful qual­ity of life, prox­im­ity to the UK, eco­nomic sta­bil­ity, low crime rates and favourable tax regime. In­come-tax rates in Jersey are lower than those in the UK, with a max­i­mum tax rate of 20%, and there are favourable ‘capped’ world­wide in­come-tax ar­range­ments for very wealthy mi­grants, sub­ject to ap­proval on a case-by-case ba­sis. Jersey has no equiv­a­lent to cap­i­tal gains tax, no lo­cal gift, wealth or in­her­i­tance taxes.

‘Life is not all about mak­ing money and sav­ing tax, of course—for so many peo­ple, it’s about per­sonal and fam­ily se­cu­rity, get­ting the most out of life and, for the suc­cess­ful en­tre­pre­neur, stay­ing com­mer­cially ac­tive and chal­lenged,’ says An­drew Shaw of Smith & Wil­liamson in Jersey. Of course, a small is­land such as Jersey needs to main­tain strict con­trols around pop­u­la­tion and mi­gra­tion, pro­tect­ing the lo­cal hous­ing market.

‘Rent­ing and buy­ing prop­erty is re­stricted in Jersey and so, in or­der to have ac­cess to hous­ing, an in­di­vid­ual must have qual­i­fi­ca­tions that are gen­er­ally ob­tained ei­ther through the ‘high value res­i­dence’ pro­gram or can be avail­able for highly skilled em­ploy­ees,’ ex­plains An­drew. ‘This is de­signed by gov­ern­ment to at­tract busi­nesses and in­di­vid­u­als with wealth or spe­cial­ist skills to the is­land.’

Smith & Wil­liamson’s ded­i­cated team in Jersey of­fers the spe­cial­ist ser­vices needed to mi­grate and is able to as­sist with Jersey tax ad­vice, UK tax ad­vice, tax-re­turn fil­ing, es­tate plan­ning, struc­tur­ing and ap­pli­ca­tions for Jersey high-value res­i­dency.

The firm is also well placed to pro­vide on­go­ing sup­port for tax, ac­count­ing and in­vest­ments once the move is com­plete. The firm has been ad­vis­ing pri­vate clients and their busi­nesses since 1881 and man­ages and ad­vises more than £18.5 bil­lion of client as­sets as at March 31, 2017.

Smith & Wil­liamson is also the very proud spon­sor of the Jersey Round Is­land Chal­lenge, at­tract­ing lo­cal and in­ter­na­tional en­thu­si­asts who cir­cum­nav­i­gate the 48-mile coast­line by land or sea (www.jer­sey­round is­land­chal­lenge.com).

‘The Jersey and Lon­don of­fices are well placed to pro­vide clients with a be­spoke ser­vice’

Jersey: where com­mu­nity har­mony, cos­mopoli­tan style and pro­fes­sional busi­nesses com­bine

The is­land of­fers a won­der­ful qual­ity of life

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