The regulations relating to company demergers can be found in the
Companies (Demerger) (Jersey) Regulations 2018 on the Jersey Law website. The regulations came into force with effect from Saturday 1 September 2018.
Certain companies are not eligible to demerge. Broadly, companies may not demerge if they have a tax obligation in Jersey or are ultimately owned by Jersey resident individuals.
A company needs a certificate from the Comptroller of Taxes, as part of the application process, which confirms that the company has notified the Comptroller that it is eligible to demerge under regulation 2(1).
Certification is dealt with by completing the online company demerger declaration form below. A PDF certificate will be emailed to you and also to the Jersey Financial Services Commission on completion.
Complete a company demerger declaration form
To complete the online form you will need:
- company registration number
- company tax reference
- email address
- to declare that the company is eligible to demerge as none of the conditions set out in regulation 2(3) apply to the company
The Taxes Office will review the information declared on the online form. You must make sure that all particulars are correct and that the company meets the conditions to be eligible to demerge.
Providing accurate information
It is an offence under regulation 16(1) for a person to knowingly or recklessly provide to the Comptroller, in connection with a demerger application, any information which is false, misleading or deceptive or any documentation containing any such information.
A person guilty of an offence is liable to imprisonment for a term of two years and a fine.