Banking services in Jersey
Jersey is a leading international finance centre (IFC) and has been at the forefront of global finance and international banking for over 60 years.
Often considered an extension of London, Jersey is a financial hub when it comes to treasury specialists and fund promoters seeking corporate banking services. It’s also a prime offshore destination for High Net Worth Individual’s (HNWIs) thanks to its strong experience in managing and protecting wealth and assets.
Trustees and law firms need expert international banking providers who have strong relationships with all major banks to be able to offer their clients a professional and efficient solution when it comes to their Jersey banking requirements.
Doing Business in Jersey: the benefits
Jersey has developed close connections with Britain, working closely together, however they are independent from the UK. They have their own elected Parliament and have maintained domestic autonomy, putting them in a good position for the post-Brexit future and offering stability and independence as an IFC.
It’s strong regulatory and legal framework is another differentiator for Jersey as an international finance hub. As one of the strongest regulatory frameworks in the world, Jersey ensures clarity and transparency when it comes to sharing information with relevant government authorities. The Jersey Financial Services Commission (JFSC) is the regulatory body in the island, overseeing anti-money laundering and counter finance terrorism. They also manage the island’s regulation, development and supervision of financial services.
When it comes to tax transparency, Jersey scores highly with the OECD and are vigilant when it comes to ensuring tax due is paid. They offer a clear, tax-neutral environment, enabling businesses and investors to be able to operate more efficiently and without cross-border tax issues.
Offshore Banking in Jersey
When it comes to banking in the island, there’s a strong presence of a number of commercial banks, ensuring multiple currencies are readily available and easily reconciled.
And, as many of these banks are international players, they can adhere to the timing limits for wireless transfers and transactions to foreign countries. Opening bank accounts in Jersey can be relatively straightforward, but good relationships with these banking institutions will be advantageous to making the process as seamless as possible.
ikyc can assist with expert international banking solutions.
Established in Jersey since 2012, we assist regulated trustees and professional advisors with their banking needs by helping them open new local bank accounts through our network of over 30 international and offshore banks.
Whether you’re a trust company looking to open a Jersey bank account, or a law firm advising international ultra-high net worth clients, we’re the ideal partner to help you succeed. We also help advisors minimise non-chargeable hours spent on establishing new bank accounts.
ikyc international banking services:
Banking solutions for regulated trustees, family offices and professional advisors (e.g. law firms)
Quick and efficient set up of international bank accounts
Treasury risk management
Designated banking and cash management
Multi-currency offshore and onshore bank accounts
Real estate financing and real estate lending options
Get in touch with us today to learn more about how we can support you with your international banking requirements in Jersey.