Being granted high value residency
The Chief Minister can grant entitled residential status to a high value resident if he's satisfied that doing so will have a social or economic benefit, and is in the best interests of the community.
Residential statuses and what they mean
If you're granted entitled status, you may buy or lease property in Jersey as your main place of residence on the Island. The Population Office normally needs that you buy or lease a high value property.
Generally, this is either a property:
- valued in excess of £2.5 million for a house
- valued in excess of £1.25 million for an apartment
- previously designated as a '1(1)K Category' property under the Housing (Jersey) Law 1949 (now superseded by the Control of Housing and Work (Jersey) Law 2012).
How to qualify as a high value resident
If you apply to become a high value resident, you must meet the following main criteria:
- your contribution to tax revenues is in accordance with Article 135A of the Income Tax Law
- your residency in Jersey will benefit the Island in some way (usually business or socially)
- you'll need to show that you have annual worldwide earnings comfortably in excess of £725,000 per year, and this must be sustainable income. The minimum tax payable on your income is £145,000 per year, however this does not guarantee your high value residency status
Other qualifying factors
The minister may also take into account any:
- voluntary work or business contribution to the local community
- training or sporting initiatives particularly aimed at youth or educational organisations
- actual or potential media coverage of any activities that involve your business or social life. This includes postive images such as sporting or educational achievements, and negative images relating to past business practice
- cultural interests or skills that have benefited a local community which could benefit Jersey
- general lifestyle and family circumstances, including past charitable work and contributions
- any clear undesirable factors in your background, such as a criminal record
The minister will take into account any likely local impact that you will have on taking up residence in Jersey.
The minister will also ask about your plans for further business activities in Jersey, future local employment, training, diversification and any potential resultant increased tax revenues.
Applying for high value residency
The Head of High Value Residency Engagement at Locate Jersey will offer you help and guidance if you decide to become a high value resident.