Taxation of companies
Jersey companies may have either "Income Tax" or "Exempt Company" status.
"Income Tax" status would normally apply to a situation where a local resident had a beneficial interest in a company or where there was non-resident ownership but the company engaged in local business and/or management and control was exercised (or capable or being so exercised) locally. The maximum rate of tax charged on profits of companies with "Income Tax" status would be 20%.
"Exempt Company" status would normally apply where a company was non-resident owned, and does not carry out any business within the Island. An annual "fee" of £600.00 is levied against the company but no other taxes are payable.
British Virgin Island companies suffer no taxation, but merely pay a fixed fee of $610.00 -$650.00 per year.