Companies
Jersey law allows great flexibility for limited liability companies. This enables Jersey companies to provide the ideal corporate structure for many international arrangements. The following are currently all permitted:
- Single member companies retain the benefit of limited liability, making them particular appealing to sole traders and small businesses.
- Private companies with more than 30 members can apply for a dispensation from public company disclosure requirements if their affairs are really of concern only to its members.
- Par value companies limited by shares.
- No par value companies with shares that have no par or nominal value: this allows capital to be returned to investors in a less restrictive way.
- Guarantee companies with personal membership: useful for non-profit making organisations, charities and clubs.
- Unlimited companies: used by professional firms that are not allowed to incorporate by their governing bodies. Can also be used for employee share option schemes, and for funds where investors require the return of capital.
- Hybrid companies: these can combine guarantees with limited and unlimited shares - but not with no-par value shares.
Migration
This can be helpful to companies that want to maintain their identity without a break or transfer which might produce adverse tax, regulatory or contractual consequences.
Foreign companies may be allowed to migrate to Jersey, subject to strict vetting by the Jersey Financial Services Commission. Jersey companies can also migrate to other jurisdictions. All migrations have to meet pre-set procedures and conditions including protection for shareholders and creditors.
Mergers
Where two companies want to merge rather than impose an overarching parent company, the Jersey FSC allows a relatively simple procedure that includes shareholder and creditor protection.
For further information about our Jersey company services please contact brian.clarke@key-trust.com.
