JERSEY

The isle of Jersey is a part of the British Channel Islands which are situated in the English Channel 77 miles from the Southern coast of Great Britain.

Political system – an independent country.

The population is 85,000 people. The official language is English.

The currency unit – a Jersey pound, equal to the GBP.

1	Corporate Law	The Companies Law of 1991
2	The form of a tax-free company	Exempted Company, hereinafter referred to as the “Company”
3	Permitted activities	Any activity not prohibited by the law. A special license for banking, insurance, reinsurance and trust services is required.
4	Prohibited activities	Transactions with Jersey residents
5	Taxation	The Company is exempt from all taxes and duties on income arising outside Jersey
6	The period of registration	Up to 1 week
7	The possibility to buy a shelf company	None
8	The name of the Company	Should not be identical or similar to any one registered in Jersey or Great Britain. The name should have the words: “Limited”, “Avec responsabilite limitee” or the abbreviations “Ltd.”, “a.r.l.”. The words: “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Co-operative”, “Imperial”, “Insurance”, “Municipal”, “Royal”, “Trust Company”, “Trustee Company” or other words and word combinations having the same meaning may not be used in the name of the Company.
9	The documents required for the registration	Memorandum of incorporation, the corporate charter, the application for incorporation
10	Who signs the incorporation documents?	At least two subscribers whose functions are only to sign the incorporation documents and appoint the first director
11	The share capital of the Company	The share capital of the company is authorized, there is no requirement of obligatory payment. The minimum size of the share capital is GBP 10,000.
12	The recommended share capital	GBP 10,000 divided into 10,000 shares with the face value of GBP 1 per share.
13	Shares	The issue of bearer shares and shares without the face value is prohibited.
14	Shareholders: -- minimum number -- nominee shareholders -- trust ownership of shares	two private individuals or corporate entities not used permitted
15	Possible re-domiciliation of the Company in any other jurisdiction	None
16	Whether the law provides non-disclosure of the information: -- on the beneficial owner of the Company -- on banking operations	The beneficial owner of the Company cannot be identified in case shares are held by the nominee Yes
17	Directors: -- minimum number -- ethnic origin and nationality -- status	a single private individual or corporate entity No requirements All rights except those being in the exclusive authority of the shareholders (determined by the memorandum, the corporate charter)
18	The existence in the territory of Jersey of: -- registered office -- registered agent -- a local secretary	Obligatory Not obligatory Obligatory
19	Meetings of: -- shareholders -- directors	The meetings may be held in any part of the world and the minutes of the meetings may be kept in any place. The first meeting after the incorporation is obligatory where shareholders may refuse from holding subsequent meetings Obligatory
20	The requirement of: -- the accounting -- preparing the annual report -- submission of the auditors’ opinion	None Yes, including the information on the names and addresses of directors, shareholders, the number of shares owned by them as at 1 January None
21	The information available upon request of any third parties	Names and addresses of shareholders, the number of shares owned by them
22	Documents kept in the registration office	The book of shareholders, directors and secretaries
23	Double taxation avoidance treaties	Great Britain, Guernsey
24	Currency control	None