Jersey: Types of Company
International Business Companies
NB In accordance with Jersey’s commitment to the ‘Rollback’ provisions of the EU Code of Conduct for Business Taxation, the International Business Company vehicle was abolished to new entrants with effect from 1st January, 2006. Benefits for existing beneficiaries of the International Business Company regime were progressively extinguished by no later than December 31, 2011.
The status of International Business Company could be held by an incorporated Jersey company or the branch of a foreign company. An IBC was resident in Jersey for tax purposes but the rates of tax were very low on non-Jersey income (see Tax Regimes). Jersey residents could not hold shares in an IBC. Prior to the legislative changes, an annual advance tax payment of GBP1,200 must have accompanied an application for IBC status. As for private companies in general, beneficial ownership has to be disclosed, but is not kept on the public record.