Tax Information for HVR’s
- Income Tax: You will be charged 20% on worldwide income tax on the first £725,000; 1% on worldwide income tax above £725,000; and 20% on all revenue from Jersey property.
- Capital Gains Tax: None
- Inheritance Tax: None
- General Sales Tax: 5%
In order to apply to become a high value resident, you must meet the following criteria:
- You must be able to show that you have annual worldwide earnings comfortably in excess of £725,000 per year (this must be sustainable income);
- You must be able to show that the minimum tax payable on your income is £145,000 per year; and
- You must intend to purchase a property worth upwards of £1.75 million if a freehold house or upwards of £900,000 if an apartment.
However, these financial requirements do not guarantee the success of your application. It is also expected that your residency benefits the Island and its community, albeit socially or economically (business). Other qualifying factors which may also be taken into consideration include:
- business contributions /or/ voluntary work in the local community;
- sporting /or/ training initiatives for educational organisations or youths;
- positive media coverage of activities undertaken (business or social). Potential negative media coverage will also be taken into account, including past events outside of the Island;
- any undesirable or negative factors in your background (e.g. criminal record);
- family and your general lifestyle;
- past charitable contributions or work;
- skills or cultural interests which could benefit the Jersey community;
- the impact your residency will have locally; and
- your plans for business activity in Jersey including:
- employment; and
- resultant increased tax revenue.
To apply for residency, you will need to provide the following documentation.
- Personal letter of application;
- Business profile of applicant;
- Financial profile;
- Two personal references;
- Two business references;
- Verified copy of a valid passport;
- A Disclosure Certificate from the Disclosure & Barring Service (DBS) or equivalent; and
- Marriage certificate (only for those who wish to buy a property in joint names).
STEP 1 – Contact Locate Jersey and attend a review meeting with the Director of High Value Residency.
STEP 2 – Complete and return the HVR Consent Form and Application Profile Documents on the Locate Jersey website.
STEP 3 – Gather supporting documents and submit them to Locate Jersey. Locate Jersey will carry out the necessary due diligence and then the application will be reviewed by the Controller of Taxes. A final decision will then be taken by the Government of Jersey’s Housing and Work Advisory Group (HAWAG). The decision will be communicated back to Locate Jersey, if all is in order this process can take as little as 2 weeks.
STEP 4 – If the application is approved then a Letter of Confirmation will be sent to the applicant by Locate Jersey (you are permitted to travel to Jersey as soon as you have received this letter).
STEP 5 – Register with Income Tax and Social Security and obtain your Jersey Registration Card. To do this, you will need to complete the application form (downloadable from Locate Jersey’s website).
STEP 6 – Arrive in Jersey and make arrangements to purchase a qualified property (in accordance with the eligibility criteria).
Can I Bring my Dependents?
Yes, there are no restrictions on the number of minor or adult dependents who can accompany an applicant, but all dependents are barred from working in Jersey or from living outside the family home, until they have spent 10 years on the island
Route to UK Citizenship?
NO INFORMATION AVAILABLE
Travel to UK
The UK, Channel Islands (which include Jersey), the Isle of Man and the Republic of Ireland collectively form the Common Travel Area (CTA). If you have been granted permission to enter Jersey, you will not require to apply for leave to enter another part of the CTA, you are therefore free to travel to the UK (Paragraph 15, Jersey Immigration Rules)
FURTHER INFORMATION REGARDING PATHWAY TO PR WAS UNAVAILABLE
- Residence Card Application Fee: £7,500
- Application Process and Forms: https://www.locatejersey.com/high-value-residency
- Visa Overview: https://www.gov.je/Home/RentingBuying/HousingLaws/pages/highvalueresidency.aspx
Paragraph 15, Jersey Immigration Rules
Common Travel Area
15. The United Kingdom, the Channel Islands, the Isle of Man and Republic of Ireland collectively form a common travel area. A person who has been examined for the purpose of immigration control at the point at which he entered the area does not normally require leave to enter any other part of it. However certain persons subject to the Immigration (Control of Entry through Republic of Ireland) (Jersey) Order 2018 who enter Jersey from the Republic of Ireland do require leave to enter. This includes:
- those who merely passed through the Republic of Ireland;
- persons requiring visas;
- persons who entered the Republic of Ireland unlawfully;
- persons who are subject to directions given by the Minister for their exclusion from Jersey on the ground that their exclusion is conducive to the public good;
- persons who entered the Republic from the United Kingdom and Islands after entering there unlawfully or overstaying their leave;
- persons prohibited from entering the United Kingdom by order of the Secretary of State.