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Jersey Hikes Money Service Business Fees

by Jason Gorringe, Lowtax.net, London
13 February, 2017

Jersey money service businesses will pay an additional 15 percent in annual fees in 2017 over 2016 levels.

Annual fees in 2017 are now GBP2,300 (USD2,876), with application fees for new registrations set at the same rate, falling to GBP1,150 (USD1,438) if an application for registration is made after June 30 in a calendar year.

Confirming the fee increases, the island's financial services regulator, the Jersey Financial Services Commission, said affected firms will shortly receive notification via the myJFSC portal that an invoice is ready for them.

The due date for payment of invoices is 30 days from the invoice date. If payment is not made, late fees may be incurred.

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