High Net Worth Immigration

The Jersey and Guernsey authorities are very keen to encourage high net worth immigration to the respective islands. 

In addition to the various lifestyle benefits each island offers attractive tax advantages including low rates of income tax and social security contributions and no capital or wealth taxes.

David Osborne

Head of Tax

For more information about our tax services please click here to contact David. 

What our clients say

"I have been very impressed with the level of service and expertise that Baker Tilly Channel Islands have given us over the course of our relationship to date.  They have provided us with invaluable advice and guidance to ensure compliance with our regulatory and legal responsibilities."  Head of essential HR projects - Top 5 Global Banking Group

Jersey

The standard rate of income tax is 20%, with Jersey property income always taxable at 20%.

There are special housing rules designed to control population. However, each year Jersey and Guernsey open their doors to a limited number of new residents. There is a beneficial tax treatment for high net worth individuals that satisfy certain criteria. The main factors that are considered by the authorities include: accumulated wealth; future income projections, reputation and benefits to the island.

Those persons satisfying the criteria will be subject to 20% income tax on income up to £625k with any income in excess of this subject to tax at 1%.

The process involves discussions with the Island’s authorities and the long term relationships we have built up with the various parties are important in ensuring a successful application.

Guernsey

The standard rate of income tax is 20%. Guernsey property income is taxable at 20%.

There is a tax cap in place to limit the total tax an individual can pay per annum

At current levels these are:

  • Guernsey source income - £110k
  • Foreign source income and Guernsey deposit interest - £110k

In other words, an individual with a combination of foreign and Guernsey source annual income totaling more than £1,000,000 could restrict their tax liability to £220k per annum.

Pre-Immigration Planning

In Jersey and Guernsey, an individual’s residence status determines their tax treatment. Each island has different residence and housing rules.

If you are considering immigrating to Jersey or Guernsey then we recommend you implement pre-immigration structuring in order to mitigate any adverse tax consequences and optimise tax opportunities.