Fees To Increase For Jersey Financial Firms
by Jason Gorringe, Lowtax.net, London
17 October, 2016
Jersey's financial services regulator, the Jersey Financial Services Commission, says it will proceed with its proposal to increase registry fees.
The fee for annual returns for companies and the annual administration fee for partnerships (with the exception of Limited Liability Partnerships (LLPs)) and foundations will rise from GBP150 (USD183) to GBP210 when submitted on paper. Submissions through the registry's online system will attract a lesser fee of GBP200.
The annual declaration for LLPs will fall from GBP500 to GBP210 when submitted on paper. The fee for online submissions will be GBP200.
Late filing fees have been changed so that the longer a document is overdue, the higher the fee.
Search fees will gradually be reduced so that certain "basic" information will be available free of charge.
In addition to the fee changes, registration of a business name will now be required to be renewed every three years, and a five-tier system for company incorporations will be introduced. The cost of a company incorporation with a processing time of five days will be GBP150, which is GBP50 less than the current standard two-day incorporation cost of GBP200.
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