High Value Resident applications (FOI)
High Value Resident applications (FOI)Produced by the Freedom of Information office
Authored by States of Jersey and published on 13 February 2019.
Prepared internally, no external costs.
During the last three years, year by year how many wealthy 1.1k residents were approved to live in Jersey and how many actually took up residence?
How many such enquiries were made in the last 3 years, year by year?
How many agreed wealthy residents live in rented homes?
Who actually agrees and give permission for such 1.1k residency? Is it civil Servants or Politicians?
If it is politicians who are they currently?
As at January 2019 how many current enquiries are there for 1.1k residency?
Once a 1.1k resident has done 10 continuous years of residency are they then residentially qualified and no longer liable for the yearly agreed payment of £145K tax?
Of those granted residency in 2018 how many actual people came to live with those granted consent, wives, partners, children, mums and dads, personal staff and so on?
Is there a limit on incoming wealthy 1.1k residents?
What was the tax take in the last three years from 1,1k residents and from how many residents?
The table below shows how many 'high value residents' (HVR) have been approved to live in Jersey and how many actually took up residence during the last three years:
* The number of arrivals will include some approvals from previous years
The table below shows how many such enquiries were made in the last three years, year by year:
20 individuals currently live in rented homes, having not purchased residential property. There is no obligation for an agreed HVR to purchase residential property as a condition of their status.
Applications for high value residency are submitted to the Housing and Work Advisory Group for consideration. The Assistant Chief Minister chairs the Group and the ultimate decision to approve or refuse applications currently rests with him, with advice taken from political colleagues.
The current Housing and Work Advisory Group comprises of Assistant Chief Minister - Connétable C Taylor, Minister for Social Security – Deputy J Martin, Assistant Minister, Economic Development, Tourism, Sport and Culture – Senator S Pallett and Minister for Children and Housing – Senator S Mézec.
Enquiries are ranked 1 to 5 in relation to the level of interest and probability of an individual proceeding to formal application. As at January 2019, there are five clients who it is expected will apply for Entitled status under Regulation 2(1) (e) (former Regulation 1(1) (k)) during the course of 2019; 15 who are considering their options and about 200 who have received information but not indicated at this point whether they wish to proceed further.
Once a high net worth resident has completed 10 years continuous residence, they can opt to remain Entitled subject to conditions, including in respect of the yearly agreed payment of £145k income tax; or they can formally write to the Minister to have their 2(1) (e) status revoked, from which date they would be taxed as a normal resident.
A central record of dependants / family members and staff of HVR's who relocated to Jersey in 2018 is not held.
There is no limit on incoming wealthy 1.1k residents, but the target remains 15 approvals per annum.
The table below shows the tax take in the last three years from 1,1k residents and from how many residents:
Pre 2005 have not been included as they do not have access to the preferential tax rates.
The year of assessment 2017 data will not be available until after the first quarter of 2019.