Asset management relocation
Relocate to Jersey - A centre of excellence for alternative asset management that feels like home
At a time of increased regulatory pressures across the globe, Jersey’s finance industry continues to attract quality business and individuals to the Island. Jersey has an appropriate and robust regulatory environment, providing legal certainty for investors and safekeeping of investor assets. The Island authorities are keen to support the growth of alternative asset managers establishing a physical presence with substance in Jersey.
Whether you are considering relocating existing structures, establishing new structures or moving your business or yourself and family, Jersey is a very attractive proposition for a number of reasons. The following focuses on the main strengths for Jersey:
- An excellent regulatory reputation which has been recently recognised by the IMF, OECD, Global Financial Centres Index and the UK Foot Report. Currently Jersey is compliant with 44 of the Financial Action Task Force 40 + 9 recommendations (Luxembourg- 10, Ireland- 30, the UK- 36 and the US- 43)
- A strong and experienced alternative asset management industry with net assets under administration of approximately £170 billion ($260 billion)
- A supporting infrastructure of experienced intermediaries and an experienced labour pool with a population of 100,000 to draw from
- A wide range of flexible structures which provide investors with a transparent platform and tax neutrality
- An experienced and approachable regulator operating in a proven Anglo Saxon legislative environment
- Proximity and ease of travel to the UK and Europe; London Gatwick is just a 35 minute flight, making client or family visits very easy
- Low personal tax rates, high net worth individuals can effectively cap income tax liabilities at £100k per annum, the general rate of tax is 20%, and there are no gift wealth or inheritance taxes
- Low corporate tax rates of either 0% or 10% for financial services businesses (fund management business is generally
taxed at 0%)
- Jersey is English speaking and there is a well funded public infrastructure
- Alternative asset managers along with other finance professionals are welcomed into the local community and will find it very easy to integrate within a community of like minded people
- The local schools have excellent academic results, follow the UK national curriculum and there are places available at all ages
- Excellent recreation facilities catering for passions ranging from food, sailing, water sports, triathlons, team sports to horse riding, cycling and walking.
PwC Local expertise
If you are looking to establish new structures, relocate existing structures or your business and/or yourself to Jersey, PricewaterhouseCoopers CI LLP can provide an experienced team to co ordinate a number of services throughout your journey to ensure that the process is seamless and as smooth as possible.
How we can help
Our locally based specialists will work with you to provide assistance in the following areas:
- Regulatory requirements
- Communications with authorities and regulator
- Relocation of controls and processes
- Corporate and personal tax structuring
- Transfer pricing
- Housing and business applications
- Audit and assurance services
- Tax compliance services.