From initial application to completion can generally take from 8 – 10 weeks. This is dependent on availability of valuers and complexity of conveyance and legal work.

Residents are not subject to CGT or IHT on assets situated in Jersey. This is a driver of relocations to the island. LTT (equivalent of SDLT) is levied on property at stepped levels dependent on value and whether the property is a person’s main residence. There is an exemption up to a specific value for first time buyers.

High net worth individuals can attain residency under the High Value Residency Scheme. There are various criteria, with the main one being that these individuals pay income tax at a rate of 20% on their first £1,250,000 of worldwide income and then 1% on any worldwide income above this figure. Essentially they must contribute annual income tax of at least £250,000 (at the time of writing – Q1 2024). Outside of this scheme, ordinarily you have to complete 5 years of continuous residence in Jersey, and gain Entitled for Work status, before you can start a business or work in any job. You have to complete 10 years of continuous residence, and gain Entitled status, to achieve full residential and employment status.