Business accounts: Jersey

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Jersey is a British Crown Dependency with its own laws, taxes and financial regulator. Its banks are mostly branches of large British and international banking groups that work in pounds, dollars and euros and serve holding companies, family companies, funds and trusts. A company account in Jersey is chosen for holding capital, managing investments and running a holding structure, not for high volumes of small payments.

Who Jersey banks open company accounts for

The bank reviews every owner above the threshold and every director: passport, address, source of funds and source of wealth, links to public office and sanctions lists. Without disclosure of beneficial owners the account will not be opened.

Jersey company tax

The standard rate of company tax in Jersey is 0%. Exceptions are 10% for certain financial services companies, 20% for utility companies and for income from Jersey property and development, and 0% to 20% for large retailers with turnover of £2 million or more. Even at 0% the company files an annual tax return. Revenue Jersey registers the company automatically after incorporation.

A company that is tax resident in Jersey and carries on certain activities must show real presence on the island: management, staff and spending. Banks look at this when opening an account, so we check the structure in advance.

Protection of company money

The Jersey Bank Depositors Compensation Scheme repays up to £50,000, about $66,200, per person per banking group, from April 2026 within seven working days. But it protects only individuals and charities: deposits of companies, partnerships and trusts are not covered. For large company balances this is a reason to spread money across banks and instruments, and we take it into account when choosing a bank.

Timelines and balances

The law sets no minimum balance; each bank sets its own. For a standard company account banks usually expect tens of thousands of pounds, and for private or investment banking hundreds of thousands. We confirm the exact amount for your structure before applying.

Ownership register and substance

Beneficial ownership details of Jersey companies are held in a central register at the island's financial regulator, and banks check client data against it. Substance requirements apply to Jersey tax-resident companies in banking, insurance, financing and leasing, fund management, headquarters, holding, shipping, intellectual property, and distribution and service centre activities. Such companies need management on the island, adequate staff and spending.

Why Jersey banks refuse

• It is unclear why the company needs a Jersey bank rather than one where it operates.
• The owners' source of wealth is not documented.
• Owners or counterparties are from higher-risk countries.
• A complex ownership chain with no explained purpose.
• The expected balance is below the bank's threshold.

Documents needed

• Constitutional documents, a registry extract and details of directors and owners.
• Passports and proof of address of owners and directors.
• A description of the business, expected turnover and counterparty countries.
• Evidence of source of funds and source of wealth.
• Financial statements for an operating company.

How we help

We assess whether your company suits Jersey banks, choose a bank for the structure and amount, prepare the document file and business description, and answer the bank's questions until a decision. If the account requires a Jersey company or a local administrator, we arrange it.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · All country programs

FAQ