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Offshore relocations Moving to the The Channel Islands are a beautiful and secure location offering an ideal base for families and businesses. Offshore relocations

Moving to the Channel Islands The traditional arguments made for relocating to the Channel Islands used to revolve around unspoiled beaches, sunshine, great restaurants, courses and low tax rates.

Today, those arguments still hold As well as the traditional market of Government true – but more and more the retirees, the Channel Islands are relocation agency things that are swaying people drawing more and more towards and are entrepreneurs and people with Locate Jersey saw about the high quality of lifestyle, young families, lured by a 155 inquiries about healthcare and education, strong combination of the lifestyle and high value residency and reliable travel links, a thriving sports on offer, as well as the entrepreneurial culture and the friendly and secure environment, relocations in 2017, availability of quality property. and the infrastructure in terms of and had 31 new travel, health and education inward investment The process of moving offshore services. businesses approved. needs specialist advice, which is why our relocation teams are Navigating through the process of Official figures called in to assist on the residency moving offshore requires expertise process, wealth structuring, and in the residency process itself, the buying property – as well as being process of finding and buying (and From 2016 to 2018, able to guide clients to trusted often extending or adapting) a contacts in the property, tax and property, and in terms of wealth relocation agency banking fields for expert structuring advice. Ogier's Locate Guernsey advice. specialist relocation teams offer a dealt with 385 discreet, knowledgeable and enquiries, with 24 In recent , the islands have proactive service to navigate reformed HNWI tax arrangements through the unfamiliar process total relocations in to be even more attractive to and deliver the bespoke outcome 2018 alone. wealthy newcomers. that fulfils and surpasses client's Official figures expectations. Our specialist relocation teams have seen an increase in inquiries both from businesses and families – partly driven by the establishment of government agencies in both Jersey and Guernsey to market the islands as a relocation destination – who are looking for a base to operate from, or a new home. While the favourable tax rates are a factor, the deciding reasons more often relate to island life, and everything it has to offer.

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About the Channel Islands... Jersey and Guernsey sit outside of the UK and the EU and are just a few from the French coast. The islands are the sunniest part of the Isles.

The Channel Islands The fact that you can be at home A huge and often decisive factor in were the sunniest or on the beach within minutes of decisions by high net-worth leaving work, the absence of individuals in particular is finding place in 2018 across capital gains or inheritance taxes, the perfect home. The local legal the . We and an enviable work-life balance sector have long-established record sunshine here are still key drivers both for inward connections with professionals in investment and decisions by high the islands' property sector, and in Jersey officially net-worth individuals, but today, provide a range of services to both and in Guernsey the reasons that the relocation domestic and international clients there's an official shortlist is so often whittled down relating to the purchase and site. And comparing to the Channel Islands go much ownership of Jersey and Guernsey further than tax and lifestyle. property assets, guiding them the Islands with all through every step of the process. the data from across Jersey and Guernsey's travel and the sites in the transport links enable residents to Many clients also spend British Isles we have get to some parts of the UK substantial sums on developing quicker than they could from and renovating Jersey and recorded almost , some of the highest fibre- Guernsey properties, and legal 2,000 hours of optic broadband connection rates teams assist and advise on the sunshine across the on the planet underpin an negotiation and appointment of emerging digital sector, and - designers, architects and other Channel Islands last class education and health professionals – not to mention and that is services and very low crime rates offering guidance through a higher than any of make the islands an attractive planning system that can be the other sites. community environment. particularly complex where older properties are concerned. Official figures In addition to that comes the exceptionally high quality of professional services, including some of the world’s leading banks, financial institutions and law firms, offering the same quality of advice and professionalism that you would expect from the top London institutions.

04 Jonathan Hughes Head of Offshore Relocations

Our services to relocating families, individuals and firms goes beyond basic conveyancing - we advise on finding a property, and work with clients to introduce them to our trusted networks of local suppliers and professionals.

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Life in Jersey and Guernsey... Michelin-starred restaurants, a range of golf courses, world-championship surfing spots and miles of coastline to explore give the islands a unique work/life balance.

Fragments of Jersey boasts three Michelin- Across the water, Guernsey's which fell into the starred restaurants, a cultural football team - Guernsey FC - ply calendar that includes the Battle their trade in the Ryman Isthmian sea and were of Flowers carnival, a film festival League Division South. gathered up by and a literature festival. . There's also the other islands that There is also a thriving local sports make up the of Guernsey on the scene: the play in the - , , and , Channel Islands Greene King IPA Championship, all of which are a short hop away the second tier of English rugby, on a boat. Team Jets compete in English Visits to Locate netball's Premier League Two and For a small island, Guernsey has a the island regularly hosts rich cultural heritage - Victor Hugo Jersey's website in international matches. lived in the island for more than 30 2017 came from 172 years, and you can visit the largely countries. But whether it's sailing, surfing, preserved house where he wrote kayaking, fishing or paddle- part of Les Miserables. Official figures boarding, a huge part of the Island's sporting life takes place on Today, the island is better known (or in) the water. as the setting for the 2008 novel "The Guernsey Literary and Peel Society" which has sold 7.5 million copies in 37 territories and which was made into a film in 2018.

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Property law advice Ogier's Jersey property practice is in a league of its own, having retained its first place among Jersey law firms in the Chambers UK league table.

Our team deals with property, We also handle a wide range of Professional yet planning and construction local residential transactions approachable, with matters from the residential and ranging from the purchase and commercial sectors, and have sale of the most valuable and an ability to focus on experience on projects worth prestigious properties in the the key issues. millions of pounds. islands, to flats and starter homes. Chambers UK, Our residential property team is Our highly-rated Guernsey service highly recommended by local Jersey, Property, is led by one of the island's most agents, banks and the people we 2020 experienced and best-connected have helped to buy, sell and property lawyers. finance their property.

Our services to relocating families, Our team have specialist expertise individuals and firms goes beyond in: Ogier's commercially basic conveyancing - we advise on minded, personable finding a property, and work with Residential sales and purchases, and responsive clients to introduce them to our particularly high-value trusted networks of local suppliers residential conveyancing attitude sets it apart and professionals. The Planning process for from other firms. renovations, extensions or new Legal 500 UK, We also have a leading planning developments Guernsey, Property, and construction team who can Development, sales and lettings help to navigate through the 2020 of large scale commercial and sometimes complex regulations residential projects relating to restoring or renovating old properties. Construction, environmental and health and safety law issues

07 A world-class commercial environment in a relaxed, safe, holiday location – what more could you ask for?

08 A world-class commercial environment in a relaxed, safe, holiday location – what more could you ask for?

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Relocating your business More and more, the people relocating to the Channel Islands are bringing not just their families but their businesses too.

We advised on the Jersey and Guernsey have all the If you need to bring over certain Waitrose acquisition infrastructure and expertise most key essential staff with your businesses require with new office business then the islands' of the Checkers space under construction to add governments can grant licences supermarket to that already available. Back to recruit staff who are not business in Jersey office functions, IT, banking, resident in Jersey or Guernsey. In compliance and accounting granting these licences, they will and Guernsey. functions are all readily available. always have regard to whether the Local professional advisers operate skills you need are already in a manner that would be familiar available in the island. We advised Brevan to anyone working in London and Howard, one of the work to high standards of client There are different types of delivery. employment-related licences largest fund under the Guernsey regime: managers in the Various organisations and world with authorities continue to scrutinise Short term – these are granted international finance centres and for periods of up to 9 months or approximately US there are an increasing number of up to a maximum of 3 years. $40bn under challenges being made by Essential – these are issued for up management, on governments and revenue to 15 years but the vast majority the relocation of its authorities to the integrity of are granted for 5 years. structures. Therefore, it is head office to Jersey. becoming increasingly important for businesses to demonstrate Foreign companies can conduct proper substance in the business in Guernsey and there is not just with We advised Ocean no requirement that a business be management and control but also owned by a Guernsey company. Rig, a deep water with office space and employees. However, many businesses do drilling operation This is often not possible in other incorporate a new Guernsey jurisdictions but is very easy to currently in the company to hold or operate the achieve in the Channel Islands. Falklands and Brazil, business. Alternatively, it is often on relocating its possible to migrate a foreign administration and company to Guernsey via a de- registration and re-registration contracts business process. to the Channel Islands.

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As well as a business having to The key factors making Jersey We advised Heritage obtain consent for relocating and Guernsey so attractive Oil plc, a FTSE 100 oil employees to reside in Jersey, the include: business will also have to obtain zero rate of for company, which has approval to set up operations and foreign-owned businesses and its main office in will be granted a business licence low rates of personal taxation Jersey, where its to operate, occupy office space no capital gains or inheritance and is required to employ up to a chief executive also tax and no stamp duty other lives. specific number of non locally than on local real estate qualified employees. Once the transactions licence is granted, the business ability to centralise management employ as many or as few We helped a top 20 local employees as it wishes. and control in one place ability to demonstrate real hedge fund Other licences may also be substance in the jurisdiction manager, Altis required if your business is modern and flexible legislation Partners, on conducting any regulated activity, good supply infrastructure such as investment management relocating all its or insurance business, and Ogier resources including office space principals and can advise on all aspects of these and support services operations to the licences. a broad base of professional Channel Islands. service providers with high levels Jersey has modern laws relating to of expertise registered rights such as patents a skilled local work force and trademarks. A recent new law a government which is willing We advised has updated older copyright and and keen to encourage inward renewable energy unregistered intellectual property investment and business solutions firm Kesell rights such as database, relocation publication and design rights. Ltd, who are based proximity to London and ability in the South West, to deal with New York and Hong Relocating businesses will also on their move to need to take advice on the islands' Kong in same business day competition legislation, as well as economic and political stability Guernsey. employment law advice on the strong transport links to London contracts of employees. and other European centres

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Local taxes The in Jersey and Guernsey have reformed their tax regimes for High Net Worth Individuals to make the islands even more attractive as a relocation option.

Neither Jersey nor While the general headline rate of Guernsey law sets an upper limit Guernsey have any Jersey is 20%, banded of £220,000 to the amount of headline rates apply for high net income tax to be paid annually – capital gains or worth individuals under the divided into two separate inheritance taxes. present high value residency rules, allowances for Guernsey-derived as follows: income (£110,000) and worldwide income (£110,000). Minimum annual contribution Jersey has a sales for all new residents is £125,000 For tax purposes, an individual will tax rate set at 5% The first £725,000 is taxed at be ‘resident’, ‘solely resident’ and/ although medical 20% with the balance being or ‘principally resident’ in Guernsey supplies, medicine, taxed at 1% on worldwide - those definitions relate chiefly to income the number of days spent in childcare and school Guernsey during a tax year of Income from land and buildings fees are zero-rated. charge and, in many cases, during in Jersey is taxed at 20% a number of preceding years.

Ogier's team of relocation Income from land For high net worth individuals who specialists can introduce you to and buildings in are principals of a business, our trusted network of experienced both islands is taxed approval for residency can be tax advisers who can help you with granted based on the following: at 20%. your specific requirements. Likely contribution to Jersey tax revenues (in the of £125,000 pa although the Population Office is also willing to take account of related employment creation opportunities) The number of dependants and the extent to which these people may in time acquire local housing qualifications Any other non-economic benefits for Jersey The associated establishment of a business in Jersey generating economic benefits while not adversely impacting on local resources 12 Martyn Baudains Property Partner, Guernsey

The things that are swaying people towards Jersey and Guernsey are the high quality of lifestyle, healthcare and education, strong and reliable travel links, a thriving entrepreneurial culture and the availability of quality property.

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Contact us

Jonathan Hughes Martyn Baudains Head of Offshore Relocations Property Partner, Guernsey T +44 1534 514336 T +44 1481 752217 M +44 7797 759977 M +44 7797 711364 [email protected] [email protected]

14 Jersey and Guernsey have a vibrant cultural calendar.

15 Contacts

British Virgin Islands London Ritter House 1st Floor Wickhams Cay II 99 Bishopsgate PO Box 3170 London EC2M 3XD , Tortola T +44 203 693 7178 VG1110 F +44 1534 514444 T +1 284 852 7300 E [email protected] F +1 284 852 7450 E [email protected] 2-4 rue Eugène Ruppert PO Box 2078 89 Nexus Way L-1020 Luxembourg Camana Bay T +352 2712 2000 Grand Cayman F +352 2712 2001 Cayman Islands KY1-9009 E [email protected] T +1 345 949 9876 F +1 345 949 9877 Shanghai E [email protected] Room 3671 Level 36 Shanghai International Guernsey Finance Centre Tower II Redwood House No. 8 Century Avenue St Julian's Avenue Pudong New Area St Peter Port Shanghai 200120 Guernsey GY1 1WA China T +44 1481 721672 T +86 21 6062 6294 F+44 1481 721575 E [email protected] E [email protected] Tokyo Nisso 23 Building 11th Floor Central Tower Suite 801 28 Queen's Road Central Toranomon 3-8-25, Minato-ku Central Tokyo 105-0001 Hong Kong Japan T +852 3656 6000 T +81 3 6430 9500 F +852 3656 6001 F +81 3 6430 9501 E [email protected] E [email protected]

Jersey 44 Esplanade St Jersey JE4 9WG Channel Islands T +44 1534 514000 F +44 1534 514444 E [email protected]

Ogier provides practical advice on British Virgin Islands, Cayman Islands, Guernsey, Jersey and Luxembourg law through our global network of offices. Ours is the only firm to advise on these five laws. We regularly win awards for the quality of our client service, our work and our people. Regulatory information can be found at ogier.com

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