Jersey or Cayman Islands: where should your business be based?
Jersey ranks higher in the index, =12 against 24. Which suits you depends on where the owners live, what the company is for and how it will be run.
Pillar by pillar
Doing business, side by side
Tax
The standard rate is 0%, with 10% on regulated financial services, 20% on utilities, large retailers and Jersey property income, and 15% for large multinational groups. GST is 5%.
Companies pay no corporate income, capital gains or withholding tax, and no VAT is charged. Individuals pay no income or inheritance tax.
Set-up
Standard incorporation costs £205 and takes up to 5 business days, with faster paid services down to 2 hours for £856. The annual confirmation fee is £220 or £339.
Registration costs CI$700 to CI$2,568 by capital band. An express service completes within 24 hours for CI$500 more, and no minimum capital applies.
On the ground
A company must keep a registered office in Jersey and have a company secretary. A private company needs at least one director, and a sole director cannot also be the secretary.
Directors need not live in the islands, but the company must keep a registered office there. Economic substance requirements depend on the activity.
Ownership
Beneficial owners are declared to the JFSC Registry at incorporation, and the register is not public. A consultation on legitimate interest access closed on 30 January 2026.
Since 28 February 2025 the beneficial ownership register is open only to persons with a legitimate interest, including journalists, at CI$75 an application.
Residence
Business principals can apply for Licensed permission with a business plan. The Skilled High Earner route needs £250,000 a year of Jersey taxable income, and High Value Residency income above £1.25 million.
The Certificate of Direct Investment requires at least CI$1,000,000 invested in a licensed business that generates employment.
Living and working
Currency
Pound sterling and the Jersey pound, at par.
Cayman Islands dollar.
Time zone
UTC+0, or UTC+1 in summer.
UTC-5.
Personal tax
Income tax is 20% of net income, or a 26% marginal calculation if that gives less tax. Income below the £21,250 exemption for 2026 is not taxed. There is no capital gains or inheritance tax.
There is no income, inheritance, capital gains, gift or property tax, but most real estate sales carry 7.5% stamp duty.
Flights
Jersey Airport lists 30 direct destinations, including London Gatwick, London Heathrow, Paris Charles de Gaulle, Amsterdam and Munich.
Services include British Airways to London via Nassau and Delta and JetBlue to New York; there is no Dubai or Singapore service.
Jersey vs Cayman Islands: common questions
Jersey: The standard rate is 0%, with 10% on regulated financial services, 20% on utilities, large retailers and Jersey property income, and 15% for large multinational groups. GST is 5%. The Cayman Islands: Companies pay no corporate income, capital gains or withholding tax, and no VAT is charged. Individuals pay no income or inheritance tax.
Jersey: Standard incorporation costs £205 and takes up to 5 business days, with faster paid services down to 2 hours for £856. The annual confirmation fee is £220 or £339. The Cayman Islands: Registration costs CI$700 to CI$2,568 by capital band. An express service completes within 24 hours for CI$500 more, and no minimum capital applies.
Jersey: A company must keep a registered office in Jersey and have a company secretary. A private company needs at least one director, and a sole director cannot also be the secretary. The Cayman Islands: Directors need not live in the islands, but the company must keep a registered office there. Economic substance requirements depend on the activity.
Jersey: Beneficial owners are declared to the JFSC Registry at incorporation, and the register is not public. A consultation on legitimate interest access closed on 30 January 2026. The Cayman Islands: Since 28 February 2025 the beneficial ownership register is open only to persons with a legitimate interest, including journalists, at CI$75 an application.
Jersey: Business principals can apply for Licensed permission with a business plan. The Skilled High Earner route needs £250,000 a year of Jersey taxable income, and High Value Residency income above £1.25 million. The Cayman Islands: The Certificate of Direct Investment requires at least CI$1,000,000 invested in a licensed business that generates employment.
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