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Mr XXXX
Original Poster
155 posts
21 months
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What's not to like? I've been browsing through their website: http://www.gov.je/Pages/default.aspxI run a online travel agency, we are part of a larger travel consortium and it is only me in the business at this stage, even in the future I envisage we would still outsource the majority of our services, bar sales people, which I can still get to work on a self employed basis from home if I wanted to. Jersey seems pretty idyllic to me, what's the catch here? Apart from the 40mph speed limit... 
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Newc
507 posts
51 months
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Don't you need 5 mil in liquid assets to move there ? And even then you are restricted to certain housing which is priced at multiples of the market rate. Plus living on a small island can get very dull, very quickly.
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bartesque
438 posts
72 months
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Wrong Island Guernsey is much nicer  and you dont need quite as much money It did rain to much for Jenson Button though
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eliot
5,324 posts
123 months
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As noted you need to have substantial means to get residency there they allow a certain number in per year based on things like who you are or how much you are likely to contribute to the economy(tax).
I went out there on business and found the place quite pleasant. VAT is 5% (and they are up in arms about that!) and there's no car tax or MOT apparently.
Stuff was slightly more expensive than the UK (or the same if comparing to central London prices)
Overall seemed a nice place.
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megapixels83
117 posts
20 months
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I live on jersey, like anywhere it has it's positives and negatives.
Positives Income tax at 20%, vat at 5%, road tax inc in petrol price c. 118p when i filled up earlier, no cap gains tax, no inheritance tax, scenic and fairly relaxed, cheap to insure a car
Negatives expensive to live if you are not in the high wage bracket 1 bed small flat £200k 2 bed decent flat £350k+, rent on a 1 bed flat is around 1100 pm, shopping is pricier than London, gets boring, a lot of roads have 15mph limits and a hand full are 40mph, expensive to get off the island I.e holidays are usually via Gatwick so another return flight cost, monopolies on a lot of services meaning higher prices.
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Mr XXXX
Original Poster
155 posts
21 months
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Thanks to everyone for their input. megapixels83 said: I live on jersey, like anywhere it has it's positives and negatives.
Positives Income tax at 20%, vat at 5%, road tax inc in petrol price c. 118p when i filled up earlier, no cap gains tax, no inheritance tax, scenic and fairly relaxed, cheap to insure a car
Negatives expensive to live if you are not in the high wage bracket 1 bed small flat £200k 2 bed decent flat £350k+, rent on a 1 bed flat is around 1100 pm, shopping is pricier than London, gets boring, a lot of roads have 15mph limits and a hand full are 40mph, expensive to get off the island I.e holidays are usually via Gatwick so another return flight cost, monopolies on a lot of services meaning higher prices. Interesting, thanks. I'm aware of the property prices etc. Have you lived on the Island all your life? Anything you desperately miss from England? As far as I can see, it has everything I need, might take a weekend trip over to see what it's like.
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Cheib
6,232 posts
44 months
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You just can't jump ship from the UK to another tax domicile....especially one like Jersey. There are various boxes you need to tick to escape HMRC's clutches.
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Mr XXXX
Original Poster
155 posts
21 months
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Cheib said: You just can't jump ship from the UK to another tax domicile....especially one like Jersey. There are various boxes you need to tick to escape HMRC's clutches. I understand that. A weekend trip to see what the place is like was what I had in mind. I wouldn't be in a position to move for a good while yet.
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darreni
1,472 posts
139 months
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Mr XXXX said: Thanks to everyone for their input. megapixels83 said: I live on jersey, like anywhere it has it's positives and negatives.
Positives Income tax at 20%, vat at 5%, road tax inc in petrol price c. 118p when i filled up earlier, no cap gains tax, no inheritance tax, scenic and fairly relaxed, cheap to insure a car
Negatives expensive to live if you are not in the high wage bracket 1 bed small flat £200k 2 bed decent flat £350k+, rent on a 1 bed flat is around 1100 pm, shopping is pricier than London, gets boring, a lot of roads have 15mph limits and a hand full are 40mph, expensive to get off the island I.e holidays are usually via Gatwick so another return flight cost, monopolies on a lot of services meaning higher prices. Interesting, thanks. I'm aware of the property prices etc. Have you lived on the Island all your life? Anything you desperately miss from England? As far as I can see, it has everything I need, might take a weekend trip over to see what it's like. The OP should be aware that the property avalaible will be under the High Value Residency (£1m+) unless he has existing local housing qualifications. http://www.gov.je/Home/RentingBuying/HousingLaws/P...Also note the minimum Income Tax contribution.
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Mr XXXX
Original Poster
155 posts
21 months
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darreni said: I did indeed spot the minimum Income Tax contribution. I did wonder about the value of the property required to qualify for High Value Residency, is it officially official at the £1M mark? Thanks
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megapixels83
117 posts
20 months
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Mr xxxx I was born in London but family came to live on jersey when I was under 1 year old so been here 29 years. Father is Italian and mother is English.
I am on the mainland a lot, mainly London for business and pleasure and I love the choice the mainland has, and how things stay open. Not that I go out clubbing but on the rare occasion I do all pubs and bars close at 11 and clubs at 1 and 2, then chance of any food after 1am like kebabs etc no chance. Taxi home from town for me,4 mile pretty straight road varies from 25 to 35! I like how if you want to watch a footy match its a train ride where as I have to get a flight and hotel same with concerts and the like.
Getting anything to the Island is expensive, eg I bought a dining room table and cost near on 100 to get it here. Good thing is if we shop in the mainland or online we can claim the vat back and anything bought off the net is exempt from our vat if under like 280.
Obv we have less crime here I mean if I forget to lock the front door on the way out I will not give it another thought.
Any one can buy on the island but living in your property require a license or quals, very rich folk and essentially employed can do it but everyone else has to wait I think 10 years being resident and renting a certain category property before being allowed to buy and live in it. Essentially employed really boils down to how many j cat licenses your firm has, I no someone that came over got a j cat, bought a house and lived in it, moved jobs but the new employer had no j cats so he effectively could not live in his property.
If you come over I can recommend some excellent hotels, restaurants etc.
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talkssense
387 posts
71 months
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Isle of Man
Most of same benefits, except we VAT at 20%. No corporation tax, capital gains tax, or inheritance tax,, no stamp duty, no restrictions on becoming resident (there are work permits though, but not if you work for yourself I don't think)
Income tax is low, and capped at 115k regardless of how many billions you earn.
Bigger than jersey, less people, better roads, no speed limit. Weather not as good.
Lots of government assistance available to business relocating, especially in the righ industries.
Health care is NHS, facilities are very good, schools are very good. Things are leaner than a few years ago but the government still have reserves and no borrowing. Recent ways of generating gov income are a growing space industry, e-gaming, and the government next week vote on if they should take a 20% stake n Pinewood film studies,.
I'd recommend it is certainly considered if you are looking at Jersey for the reasons you stated.
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Mr XXXX
Original Poster
155 posts
21 months
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megapixels83 said: Mr xxxx I was born in London but family came to live on jersey when I was under 1 year old so been here 29 years. Father is Italian and mother is English.
I am on the mainland a lot, mainly London for business and pleasure and I love the choice the mainland has, and how things stay open. Not that I go out clubbing but on the rare occasion I do all pubs and bars close at 11 and clubs at 1 and 2, then chance of any food after 1am like kebabs etc no chance. Taxi home from town for me,4 mile pretty straight road varies from 25 to 35! I like how if you want to watch a footy match its a train ride where as I have to get a flight and hotel same with concerts and the like.
Getting anything to the Island is expensive, eg I bought a dining room table and cost near on 100 to get it here. Good thing is if we shop in the mainland or online we can claim the vat back and anything bought off the net is exempt from our vat if under like 280.
Obv we have less crime here I mean if I forget to lock the front door on the way out I will not give it another thought.
Any one can buy on the island but living in your property require a license or quals, very rich folk and essentially employed can do it but everyone else has to wait I think 10 years being resident and renting a certain category property before being allowed to buy and live in it. Essentially employed really boils down to how many j cat licenses your firm has, I no someone that came over got a j cat, bought a house and lived in it, moved jobs but the new employer had no j cats so he effectively could not live in his property.
If you come over I can recommend some excellent hotels, restaurants etc. Thanks for that, will be in touch as/when. talkssense said: Isle of Man
Most of same benefits, except we VAT at 20%. No corporation tax, capital gains tax, or inheritance tax,, no stamp duty, no restrictions on becoming resident (there are work permits though, but not if you work for yourself I don't think)
Income tax is low, and capped at 115k regardless of how many billions you earn.
Bigger than jersey, less people, better roads, no speed limit. Weather not as good.
Lots of government assistance available to business relocating, especially in the righ industries.
Health care is NHS, facilities are very good, schools are very good. Things are leaner than a few years ago but the government still have reserves and no borrowing. Recent ways of generating gov income are a growing space industry, e-gaming, and the government next week vote on if they should take a 20% stake n Pinewood film studies,.
I'd recommend it is certainly considered if you are looking at Jersey for the reasons you stated. Interesting, thanks for your input. Will do some more research.
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Cheib
6,232 posts
44 months
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talkssense said: Isle of Man
Most of same benefits, except we VAT at 20%. No corporation tax, capital gains tax, or inheritance tax,, no stamp duty, no restrictions on becoming resident (there are work permits though, but not if you work for yourself I don't think)
Income tax is low, and capped at 115k regardless of how many billions you earn.
Bigger than jersey, less people, better roads, no speed limit. Weather not as good.
Lots of government assistance available to business relocating, especially in the righ industries.
Health care is NHS, facilities are very good, schools are very good. Things are leaner than a few years ago but the government still have reserves and no borrowing. Recent ways of generating gov income are a growing space industry, e-gaming, and the government next week vote on if they should take a 20% stake n Pinewood film studies,.
I'd recommend it is certainly considered if you are looking at Jersey for the reasons you stated. Mate of mine moved to the IoM a couple of years ago...he works in shipping. He's very happy there but I think the weather is starting to get to him a bit....have to say I am not sure I could deal with living in the middle of the Irish Sea! Have visited but didn't really get outside Douglas. I can see the atrractions especially if you have a family so things like the good schools and healthcare are a plus. My mate did say that when he's got early flights out the plane is full of people with varying ailments off to see their specialists on the mainland for a day trip! He said the medical facilities are very good (for obvious reasons) but if you need a specialist obviously hard for one on the IoM to have the specialist experience so it's an away game.
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talkssense
387 posts
71 months
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Travelling off island to see specialists is true, and I would guess applies the same in jersey due to the limited population.
All paid for by government though if it's a treatment you can't get locally, including transport and digs.
Personally I don't think it's a bad thing, because you go straight to somewhere recognised for whatever you condition is and see the best doctors, who are possibly better equipped to deal with you than a specialist in a smaller local hospital in the UK.
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darreni
1,472 posts
139 months
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talkssense said: Travelling off island to see specialists is true, and I would guess applies the same in jersey due to the limited population.
All paid for by government though if it's a treatment you can't get locally, including transport and digs.
Personally I don't think it's a bad thing, because you go straight to somewhere recognised for whatever you condition is and see the best doctors, who are possibly better equipped to deal with you than a specialist in a smaller local hospital in the UK. Same here in Guernsey, i was referred to the top chap at Moorfields in London as my eye condition was ouside of my local consultants knowledge range/skill set. All flights, consultations & surgery paid for by the State of Guernsey. It does cost £42 to see your GP mind...
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unclepockets
461 posts
35 months
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I moved here 12 years ago, there's much to like but it's far from perfect. Housing is a major issue, house prices are horrific and so are places to rent. The current housing qualification period is 11 years (was 19 when I moved here)unless you are Nigel Mansell/bloody minted. I think if I could choose again I would have chosen the Isle of Man, all the good points of Jersey but with lower costs of living and more space, oh and the TT every year  but the Isle of Man have changed their immigration laws and Jersey will be doing so soon so get a move on if you're coming! at the moment there is no immigration quota but you are limited to where you can live and work but I know plenty of people who just came here and got on, including me. I miss choice here, oh and value for money, despite being VAT free, stuff on the high street is still more expensive than the stuff on the mainland with the VAT, basically Jersey is well suited to high earners and it's difficult if you're just an average working pleb. Only shops under a certain size are open on a Sunday and Boots the rest are food shops/newsagents. The quality of life is much nicer than the mainland having said all that, oh and no pesky MOTs or road tax to pay
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