You’re thinking about setting up a Limited Company in Jersey, here we will address all of your questions on the practicalities of incorporating a Jersey Limited Company.
We suggest that once you have read through the information below, that you click on our detailed Step-by-Step Guide to Setting up a Limited Company to help you navigate through the entire process of having a Limited Company.
HOW TO INCORPORATE A JERSEY LIMITED COMPANY
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.
ADDITIONAL LICENCE AND REGISTRATION REQUIREMENTS
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 Data Protection Commission?
Yes. You should register with the commission as required by the Data Protection Law and this can be done online. The fee for notifying with the Commissioner is £50 per year.
SOCIAL SECURITY, TAXES AND EMPLOYMENT
How much Social Security will I be liable to pay?
As a self-employed person you may be liable to pay Class 2 contributions at 12.5%. Contact the Social Security Department so that you fully understand what your Social Security contribution payments will be.
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
BANK ACCOUNT AND INSURANCES
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.
What insurances do I need to have in place?
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.
PREMISES AND LEASES
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
PLANNING YOUR BUSINESS
Put your concept on paper
Don’t put off making a start on your business plan, it will be much more helpful than you realise. Failing to plan is planning to fail! Jersey Business Plan Template and Guides
GET ADVICE OR SUPPORT
Whether you’re a new start-up or an established business we’re here to help you steer your business in the right direction.