Jersey Offshore Account

The Bailwick of Jersey is a collection of islands located off the coast of Normandy, which along with the bailwick of Guernsey is known as the Channel Islands. Jersey is a British Crown dependency but does not belong to the UK or the EU and is considered as one of the Crown’s separate possessions.

Jersey’s principal income earner is the financial services industry which is responsible for a large percentage of jobs created on the island. Offshore banks providing offshore accounts in Jersey are all regulated by the Jersey Financial Services Commission (FSC), which is mandated to regulate, supervise and develop financial services in Jersey. The operations of Jersey offshore account providers are regulated and are required to adhere to the rules established for providing safe and secure offshore bank accounts in Jersey.

Jersey offshore bank accounts are denominated in multiple currencies which enable Jersey offshore account holders to transact in different currencies. Multicurrency Jersey offshore accounts allow people and companies to do business in various countries in the legal tender used and eliminate the need to exchange currencies, which often results in financial loss due to fluctuating currency rates. Offshore accounts in Jersey are offered by offshore banks that provide a range of flexible and modern offshore banking services.

Holding an offshore account in Jersey affords expats and frequent travelers with a bank account within Europe through which business in the EU zone can be conducted. Thus, someone living in Latin America does not have to wait for several days to effect payments or transfer funds when wishing to do immediate business. Having a Jersey account can facilitate commercial activities directly in Euros or British Pounds and within a shorter period of time. Opening a Jersey offshore bank account follows the same procedures of offshore account

opening in other offshore financial centers. In order to set up an offshore account in Jersey, the respective offshore bank will require new customers to fill in the corresponding Jersey offshore account opening forms and to provide the necessary identification documents such as certified passport copies and corporate documents in the case of a Jersey offshore bank account being set up in the name of a company. The information given by new clients when opening an offshore account in Jersey are required to be true and correct, default of which could result in the necessary action being taken as both domestic and international standards for holding an offshore account in Jersey must be obeyed.


Back to top