Issuu on Google+

Jersey: Open for Business

jerseyenterprise.com


Jersey: Ideally positioned Jersey is a pro-business Island, ideally positioned for you to invest, grow and prosper, providing the perfect location for your future European operations. Jersey Enterprise provides solutions to enable you to develop your business within the Island.

Why relocate to Jersey? n Jersey

has an accessible, business-focussed, independent government offering some of the lowest direct tax rates in Europe Jersey is an international centre of excellence for professional services allowing you direct access to globally-renowned experts in international finance and business

n

n Jersey

can be reached within an hour from over thirty UK and European cities

n Jersey

offers an unparalleled quality of life in a beautiful, safe, island setting

jerseyenterprise.com Jersey: Open for Business


Jersey: The Business Proposition Highly Rewarding

Low Risk

Low Tax

International Quality Lifestyle

Very competitive corporate tax rates Favourable tax rates for individuals n No capital or inheritance tax n Very low property tax

Beautiful island setting with stunning beaches English speaking with a French influence n Michelin-star cuisine and high quality local produce

n

n

n

n

In Jersey, you keep more of what you earn.

Pro-Business Accessible and responsive politicians n Minimum state interference n Modern e-business infrastructure n

In Jersey, government supports business.

High Growth Consistently high growth rates n Investment in education and skills training n Major new office developments in pipeline

In Jersey, strike a perfect work-life balance.

Safe and Stable Environment A secure place to live with very low crime rates Compliance with international bodies such as IMF n A place that respects privacy and individual freedom n n

In Jersey, enjoy peace of mind at work and home.

Excellent, Modern Services Schools that outperform the UK in results Clean and modern health services n Extensive outdoor leisure and sporting facilities n

n

n

In Jersey, expect business opportunity.

In Jersey, high quality facilities give you a high quality of life.

World-Class Support and Advice Close links to City of London Direct flights to thirty UK and European cities n International centre of excellence for professional services with globally-renowned accountants, bankers, lawyers and venture capitalists n n

In Jersey, be connected to the right people and the right places

If you would like to know more about establishing your business in Jersey, read on for first-hand accounts of the experiences of individuals and businesses who have made the move. These businesses have been assisted by the Inward Investment team at Jersey Enterprise, an organisation established to help people just like you.

“The enthusiasm and professionalism we encountered gave us great encouragement for Jersey’s vision for business. I can’t imagine other locations offer such a welcome.” Global Advisors (Jersey) Limited


S T O U E N ’ S B AY J E R S E Y ’ S W E S T C O A S T P L AY G R O U N D

Jersey: Open to you Would you like to conduct your business in a thriving international centre at the heart of global commerce, but not suffer the burdens and costs of city life? And what if this same place was run by a government that stringently maintains and robustly regulates a flourishing and diverse business environment, free of high taxes and unnecessary bureaucracy? A place where you can live in breathtaking countryside, yet be only minutes from your office. Where you can put in a full day’s work, but still be home in good time to spend an evening on the beach with your family. It might sound too good to be true, but this place really does exist! The location is the beautiful Channel Island of Jersey, a proudly independent state sitting on the door-step of Europe, but without being ruled by it. A place where the government is accessible, flexible and nurtures a culture of enterprise. A place inhabited by thousands of leading business professionals, including accountants, lawyers, trust and investment specialists and bankers, working across a myriad of global sectors.

BUSINESS SOLUTIONS FROM JERSEY ENTERPRISE

In Jersey there is no inheritance tax, no capital gains tax and personal and business taxes are levied in a low and logical manner, so it makes sound financial sense to be based here. Situated less than fourteen miles from France and under an hour from London, with frequent flights to all major European business centres, including Paris, Dublin and Geneva, Jersey is at the hub of a world-wide transport network. And with excellent telecommunications coverage and broadband connectivity, it has a world-class IT infrastructure that is supporting a booming e-commerce industry, in both the financial and retail sectors. In Jersey you are only a click away from the rest of the world. On-island, your commute is twenty minutes. It’s a safe place, with very little crime and where traditional values of respect for people and their property are still upheld. Jersey is healthy place where you are surrounded by golden sandy beaches, lush woodland and dramatic heath-covered cliff tops. On this cosmopolitan Island, there is unending access to an extensive range of sporting, leisure and cultural activities:- from sailing and surfing to tennis and golf; from Michelin-star restaurants to luxury spas; from comedy and drama to opera and ballet, there’s something for everyone in Jersey.

With a first-class education system that consistently outperforms most of the UK and the opportunity to grow up in a safe, outdoor environment, there is every reason to raise your family in Jersey. The health service is comprehensive, with excellent primary care facilities and a clean, modern hospital offering high standards of care. Jersey is one of the few places on earth where the work-life balance really is achievable - here you can work the city life, but not have to live your life in the city. We look forward to welcoming you to our beautiful Island.

“You can’t put a price on being able to walk away from the office and be home within minutes, playing with the kids or taking a walk on the beach.” Altis Partners


M O N T O R G U E I L C A S T L E TO W E R I N G O V E R T H E H A R B O U R S I D E R E S TA U R A N T S O F G O R E Y

The best advocates for relocation to Jersey are the businesses that have made the move. Read on to find out more about their experiences:


BUSINESS SOLUTIONS FROM JERSEY ENTERPRISE

Icecap When one of the world’s first carbon trading businesses wanted to establish a headquarters within a more tax efficient jurisdiction, ICECAP directors Alick McIntosh and Dave Allen decided that Jersey was the place that met both their corporate needs and lifestyle aspirations. Native Zimbabwean, Alick McIntosh explains, “Established in London in 2003, ICECAP’s principal business activities are buying and selling carbon credits around the world and across a wide range of industrial sectors. By 2006, our ground breaking business was growing from strength to strength, with offices in London, Beijing and Calgary. My fellow directors and I felt at this point, that it would make sound commercial sense to base ourselves in a location with a low tax regime. We looked at various options, but Jersey seemed to offer us the best all-round package. We were pointed in the direction of Jersey Enterprise and the team there was extremely proactive in helping us to establish our headquarters.

Jersey: Open for Business

“We chose Jersey as a base for our operations due to its proximity to London and its strong local professional services industry.” ALICK McINTOSH ı director

“In just three or four meetings, face-to-face with the relevant government ministers and officials, our licence to operate was approved and our permissions to set up home on-Island were granted. It was an incredibly smooth process that was facilitated by the Inward Investment team at Jersey Enterprise, which was quick to recognise that our business was one which was environmentally robust, with a low physical footprint, yet yielding high returns for us and the Island. We were impressed with the welcome we received and the ease with which it was possible to get ourselves up and running. “My fellow Jersey director, Dave Allen and I both have families and it was a big decision to uproot them from their schools and friends to move to the Island. However, as it turns out, our families couldn’t be happier! It’s lovely to feel that the biggest threats to our children’s well-being are not gangs on street corners or the menace of drugs, but the size of the waves they are surfing and the height of the fences their horses are jumping!

ALICK McINTOSH AND DAVE ALLEN ı directors

“We are also enjoying the proximity of Jersey to France. At half-term this year we discovered just how easy and straightforward it is to drive to Switzerland for a skiing holiday! We are looking forward to loading up the car and taking the short ferry crossing to Brittany in the summer, from where we can drive deep into the French countryside and enjoy exploring this vast and diverse country.”


J E R S E Y M A R I N A S 5 G O L D A N C H O R S TAT U S

Equiom Trust Company Equiom Trust Company Limited operates one of the world’s largest and most respected superyacht management services and has established a crew management and payroll service (‘Crewmann’) in Jersey, because the Island presented the most tax efficient solution for both yacht owners and crew. Equiom’s Director of Jersey Operations, Katherine Ellis, explained, “Once we had decided to establish this key arm of Equiom’s business in Jersey, we were working to a very tight launch deadline. We were delighted with the welcome we received in the Island and the team at Jersey Enterprise was incredibly proactive and supportive of our venture. Under their guidance we managed to jump through all the necessary regulatory hoops successfully, within a matter of weeks and despite the complexities of setting up our business, to our amazement we were able to meet our ambitious target launch date! “We have employed local staff and appointed local directors and the Jersey Enterprise team was able to put us in touch with other key personalities within the marine industry on-Island, to save us time and energy finding the main players who could support our initiative. “I have been asked my views on the process of setting up our Crewmann venture in Jersey and, hand-on-heart, I only have positive things to say! We have been so delighted with the smooth, business-focussed, can-do attitude of everyone we have encountered and I simply cannot recommend Jersey highly enough as a place to do business!”

“We have been so delighted with the smooth, business-focussed, can-do attitude of everyone we have encountered and I simply cannot recommend Jersey highly enough as a place to do business!” K AT H E R I N E E L L I S ı Director of J ersey operations

Jersey: Open for Business


Jersey: Open for Business

Altis Partners

“We were finding London an expensive place in which to operate our business and none of us was enjoying our lengthy daily commute, which was keeping us away from our growing families.” N ATA S H A R E E V E - G R AY ı principal

Altis Partners is an alternative investment firm which has designed its own scientifically formulated technology to deliver impressive returns for its clients. Managing more than $1 billion of client assets and annualising at over 20% since its inception in 2001, Altis has achieved most of its growth since moving to Jersey from the UK in 2005. Natasha Reeve-Gray, Principal and a founding member of Altis explains, “The motivation for our move to Jersey was two-fold:- firstly, we wanted to be able to invest more of the company profits in order to grow the business and secondly, we were quite simply seeking a better quality of life for each of the directors and their families. “We were finding London an expensive place in which to operate our business and none of us was enjoying our lengthy daily commute, which was keeping us away from our growing families. “We decided to look for a new base for our company that could provide us with a more advantageous business environment; proximity to the major financial centres and an attractive location in which to bring up our children. Jersey is a stone’s throw from the UK and Europe; enjoys easy and frequent access to flights worldwide; is a highly regarded and stringently regulated jurisdiction and the advantages of doing business here were a compelling driving force. “We were the first independently owned hedge fund to move to Jersey from the UK and it became apparent that we were trailblazers in our field.

“Negotiating uncharted waters could have been a nightmare in such an unfamiliar jurisdiction however, we were lucky to have the support of Jersey Enterprise on board. The Inward Investment team is both well organised and well connected and its advisors were able to hold our hands through the process of dealing with the various authorities and government departments when setting up our business.

“Jersey has, however, wholeheartedly embraced hedge funds and despite steep learning curves on both sides, we haven’t looked back. The move has been good for the fund; good for our investors and even better for family life! “We are able to spend time with our children both before and after work and yet still put in as many hours (if not more!) as we did in London. You cannot put a price on being able to walk away from the office and be home within minutes, playing with the kids in the garden or taking a walk on the beach at the end of a busy day. “A big consideration for us was that the schooling within Jersey should be at least as good as the UK. We are pleased to report that the Island has a world-class education system, with the private sector (and here I gloat!) costing as little as a third of that in the UK. My business partners and I have all managed to find and buy beautiful homes that are conveniently located, no more than a few minutes away from the schools, our offices, countless beaches, a variety of fabulous restaurants and the airport!”

BUSINESS SOLUTIONS FROM JERSEY ENTERPRISE


E vening light warms S t B rela d e ’ s B ay T he perfect way to wind down

BankClarity Sitting on a Miami beach, Welsh banker and IT specialist Paul Bater came up with the idea of individuals and businesses being able to take simple and straightforward control of their finances, by harnessing the latent power locked up in their online banking data. As his concept grew, he realised that the system could be extrapolated into, and provide massive cost-savings for, the trust and corporate services sector. Given the enormous trust industry in Jersey, by 2008 BankClarity had set about opening an office on-Island in order to service the high demand they were experiencing. “When demand for our services began to take off, I was doing a great deal of travel between Jersey and our headquarters in Swansea, so it made good commercial and practical sense to relocate and open a Jersey office. “We were put in touch with Jersey Enterprise by the solicitor acting for us on-Island and the team was key in helping us get going from a standing start, assisting our application for our working licences by helping us to draft our proposal. I am sure that their input was crucial to ensuring that the approval process was quick and successful. Jersey Enterprise has been extremely supportive of our relatively young business and has helped to raise our profile within the trust sector and the wider business community – the team was quick to understand what we do and could see the major benefits our services could provide to businesses on-Island and beyond. “You can imagine that, as a devout Welshman, leaving my roots in my beloved Wales was not a move I entered into lightly! However, I have to confess I love living in Jersey. The pace of life is much more civilised than anywhere else I have worked and I have a particular passion for the beautiful St Brelade’s Bay on the south west of the Island. I can’t imagine that I will ever tire of the stunning coastline and fabulous restaurants there.

“Jersey is a spectacular place to live and yet, with its excellent IT and telecommunications systems worldwide, I am able to run a sophisticated, banking support operation from within its shores! I really feel like we’ve got the best of all worlds.”

“Leaving my roots in my beloved Wales was not a move I entered into lightly! However, I have to confess I love living in Jersey. The pace of life is much more civilised than anywhere else I have worked.” PAU L B AT E R ı d irector ı B A N K C L A R I T Y

Jersey: Open for Business


Jersey: Open for Business

Airtel-Vodafone When Indian based telecommunications giant Bharti Airtel was looking to expand its operations into overseas territories, the directors felt that the Channel Islands was a market that could provide them with a long-term, sustainable business opportunity. Situated on the doorstep of Europe, Jersey was ideally positioned for them to do business, now and in the future. Iain Williams, Airtel-Vodafone’s Chief Executive Officer explains, “Our parent company was familiar with Jersey as a jurisdiction because it had enjoyed an investment relationship with the Island for a number of years. “That said, Bharti Airtel had no experience of actually operating a business in Jersey. As a company, we are renowned for making our business propositions sophisticated but simple, but that doesn’t mean to say that setting up a telecommunications business in a completely new jurisdiction is straightforward – it’s anything but! And this is where the team at Jersey Enterprise was able to step in.

“Jersey punches far beyond its weight, both in terms of its business and social communities! It is so much less of a small Island than people might think. Jersey is full of positive-minded individuals with big ideas.” Iain Williams ı C hief E x ecutive O fficer

“What’s more, Jersey Enterprise has helped us to avoid many months of knocking on doors. It has been able to facilitate some key relationships for us, both within the public and private sectors, because of its extensive and close dealings with local business leaders and government representatives. “I have been astonished by how Jersey punches far beyond its weight, both in terms of its business and social communities! It is so much less of a small Island than people might think. Jersey is full of positive-minded individuals with big ideas. The diversity of the Island’s beauty; the quality of its restaurants and its facilities for the arts and culture, as well as the ease of moving around Europe and the rest of the world, all exceed what one might expect from a place with a population of less than 100,000!”

“With knowledge and expertise of the local marketplace and a complete grasp of our business needs, the Jersey Enterprise team has been a critical support resource in helping AirtelVodafone establish a world class voice and data network and grow its operations on-Island. The team has guided us through the local legal, fiscal and regulatory requirements for businesses in Jersey – a crucial knowledge bank for any company opening its doors in this independent jurisdiction - that has saved us a great deal of time and money.

BUSINESS SOLUTIONS FROM JERSEY ENTERPRISE


J E R S E Y E U R O P E A N S E N I O R S P G A T O U R N A M E N T T H E si x teen T H H O L E AT L A M O Y E G O L F C L U B

Infrasoft Technologies Infrasoft Technologies is a software company servicing the banking and finance industry globally, which is headquartered in Mumbai with operations in New York, London, Bahrain, Dubai, Malaysia and more recently, Jersey. Established on-Island to service Jersey’s extensive finance industry, Infrasoft is now working, with the support of Jersey Enterprise, to recruit from an excellent seedbed of local IT talent, as part of an inhouse training programme. Kevin Moore, Managing Director, explains, “Jersey Enterprise was able to assist our India-based parent company with the regulatory side of establishing Infrasoft in Jersey, including the acquisition of the necessary staff licences. The team was also able to facilitate introductions with key potential clients. “One of our cornerstone principles is our understanding that clients like their businesses to be serviced by local individuals, who possess a detailed knowledge of the local practices, regulations and idiosyncrasies of their industry. Jersey Enterprise has helped us to identify potential home-grown talent and, once recruited, students travel to Mumbai for a three month intensive training programme, before returning to Jersey to continue their apprenticeship on-Island. Our clients are delighted with the high calibre of our contractors and we are thrilled to be able to put something back into the Island that has provided Infrasoft with such an excellent business base. Hanuman Tripathi, CEO and Managing Director, Infrasoft Technologies adds, “We have had a very positive experience establishing our business in Jersey. Government officials are not only courteous and devoid of red tape but also welcome positive business models that promote trade and help the society at large. Decisions happen fairly quickly, both at government and trade promotion organisational level.”

“We have found operating in Jersey to be extremely obstacle free. We have encountered minimal red-tape and bureaucracy and have found the government to be extremely open to new ideas.” Hanuman Tripathi ı C E O and M anaging Director

Jersey: Open for Business


B E A U P O R T B AY J U S T D R O P A N C H O R

Why relocate to Jersey? n Jersey

has an accessible, business-focussed, independent government offering some of the lowest direct tax rates in Europe Jersey is an international centre of excellence for professional services allowing you direct access to globally-renowned experts in international finance and business

n

n Jersey

can be reached within an hour from over thirty UK and European cities

n Jersey

offers an unparalleled quality of life in a beautiful, safe, island setting


Get in touch To find out more about business and investment opportunities in Jersey, contact Jersey Enterprise Jubilee Wharf | St Helier | Jersey | JE1 1BB www.jerseyenterprise.com Wayne Gallichan Director of International Trade Development and Inward Investment T +44 (0)1534 448934 E w.gallichan@gov.je Kate Le Blond Business Support Officer - International T +44 (0)1534 448110 E k.leblond2@gov.je


Jersey - Open for Business