How does High Net Worth Residency apply in Jersey ?
High Net Worth Individuals (HNWI) and those who would previously have been granted residency by virtue of their financial and social contribution to the islands (formerly known as 1(1)(k) residents) will now fall under the category of “Entitled” residents. Although a formal application process will still have to be made and certain criteria met, the States of Jersey are working hard to ensure that this process is simplified and made quicker. This new classification will provide greater discretion for HNW individuals as the “Entitled” category will also be attributed to those who are Jersey born and have reached the required aggregate residency period.
We work very closely with the team at Locate Jersey who handle the applications for High Value Residency. If you would like to know more we would be very pleased to make arrangements for you to speak to or meet Jersey’s High Value Residency Director, Kevin Lemasney.
If a resident has entitled status through what was previously referred to as 1(1)(k), [now regulation 2(1)(e)], on completion of 10 years aggregate residency, they can choose to have their entitled status classified through that residency period rather than by their financial contribution to the island. This means that if their circumstances should change after this 10 year period had been completed, they would not lose their residential status.
For independent and confidential advice regarding High Net Worth Residency in Jersey please contact:
Office: +44 (0)1534 854574