Setting up a Limited Company in Jersey
Limited Company information
If you are a Jersey resident and thinking about setting up a limited company in Jersey, the sections below we will take you through the process of incorporation, explain the forms that you will need to complete and where to submit them. If you are not resident in Jersey please go to our page Setting up in Jersey as a Non-Resident. For practical help with preparing the necessary documentation, you can attend one of our Incorporating and Administering a Limited Company workshops which we run regularly throughout the year. This workshop will also explain the administrative responsibilities you will have once you have set up your limited company. If you are not already trading, you should be aware that as part of the process you must obtain a Business Licence from the Population Office which enables you to trade legally. Licenses are ordinarily only granted to those who have residential and employment statuses of entitled, entitled for work or licensed.
What licences are required to set up a Jersey Limited Company?
A business which is going to be established and trading in Jersey has to apply for and obtain a Business Licence for a Limited Company. This is a legal requirement and the licence is issued by the Population Office.
How much does it cost to incorporate a Jersey Limited Company?
There is an initial incorporation fee of £200 then a Company Annual Return fee of £210 payable directly to the Jersey Financial Commission.
What do I need to submit to the Jersey Financial Services Commission (JFSC)?
What Information and documents do I need to supply for ‘Know Your Client ‘purposes?
An individual Jersey resident must present themselves, in person, to the Jersey Financial Services Commission. They must show the appropriate photo identification and proof of address documents as outlined in our Guide. This applies to all owners of the business.
For further guidance read our Practical steps for registering a Limited Company in Jersey here.
What other licences/registrations might I need to have in place?
Depending on the type of business you are setting up, you may need to register and obtain licences from different authorities such as Environmental Health (food and drink), Judicial Greffier (liquor licences), Child Care Registration etc. etc. Look on our Industry Pages for info on your specific Sector.
Will I be liable to pay GST?
For more information on your options for registering for GST go to GST guidance for your business
Should I register with the Jersey Office of the Information Commissioner?
Yes. You should register with the Jersey Office of the Information Commissioner and comply with Data Protection Law if you use anyone’s personal information, such as names, addresses, phone numbers, email addresses, have CCTV or send marketing material to customers. Registration can be done online, the fee for notifying with the Commissioner is £50 per year. Read about your data protection obligations here.
How much Social Security will I be liable to pay?
If you’ve recently become self-employed and have set up a business, you can apply for a startup rate of Class 2 contributions. This is designed to help you when you’re starting up a new business and you may not earn as much as you did in your previous position. Rather than paying Class 2 contributions on your total income from two years ago, the Startup Plan is designed to offer you a base rate to pay now. It is reviewed on your total income in two years’ time. For more information read Paying Class 2 contributions if you’re setting up a business (Startup Plan)
Who should I contact regarding employing staff?
The Jersey Advisory Conciliatory Service (JACS) offers a free advisory service to help business owners comply with the essential requirements of the Employment Law. Contact them for straightforward, practical advice regarding staff contracts, pay slips etc. and help in developing an essential toolkit of employment documents.
Here is a link to our guide Employing People: The HR Toolkit for Small Businesses which you can download and save for future reference.
How will the Company Income Tax be assessed?
Detailed information can be found on the Company Tax Information
Do I need a Company Bank Account?
You will need to open a Company Business Bank Account when you set up your Company. This step is often mistakenly left until last but it is important that you speak to your bank to make sure that this facility is available to you before you incorporate your Limited Company. A bank will normally ask to see your business plan and financial forecasts, especially if you are starting a new business
All businesses should have the appropriate insurances in place to ensure the business is protected in the case of a claim, including Employer’s Liability Insurance (a legal requirement) if the Company employs staff. We recommend you speak with your insurance company to discuss your specific requirements and what premium you are likely to pay.
If you are thinking of buying or leasing commercial premises to operate your business from, before making any commitments, please take the time to read through our insightful property tool An Introduction to Jersey Commercial Property for Small Business
Other useful sources of information.