About Jersey's Government and History

The Channel Islands have a unique status within the British Isles. Like neighbouring Guernsey, Jersey is a Bailiwick controlled by a bailiff; it is not part of the UK, but a dependency of the Crown, which has been semi-autonomous since 1204.
Its own elected 53-member parliament, the States, is responsible for everything apart from foreign relations and defence. All legislation has to be approved by the Privy Council, while the Lieutenant Governor represents the Crown.

The Island has its own passports, car registration plates, bank notes and legal system, which is enforced by 13 separate police forces. it even has its own patois, a Norman French language, predictably, since Jersey owes its character to a combination of British and French culture.

The generous tax regime attracts hundreds of would-be residents, despite high property prices and stringent housing rules. However, unless a business is granted a 'J' category licence to bring an essential employee to the Island to live and work, an individual would require capital of at least £20 million to be considered for immigration as a wealthy resident.
As well as having no VAT, the lure for high net worth individuals is that income tax is fixed at 20% and neither capital gains tax nor inheritance duty exists.
Jersey's favourable tax status has attracted as many businesses as it has millionaires - 78 offshore banks currently operate from the Island, with a total of £200 billion held in trusts or accounts. As you spend time in St Helier, the number of banks and finance houses will surprise you - their gift is the vibrant young professional scene apparent around the island.
Jersey's tax arrangements exempts non-residents from paying income tax on savings, so the advantages of having an offshore account are obvious.