The information below provides details about the Jersey banking system, and details on opening a Jersey offshore bank account. We also provide details on the laws and regulations that govern the banking system, as well as a list of local and international banks that are based in Jersey.
Banking operations in Jersey are regulated and governed by the Banking Business Law and the Banking Business (General Provisions) Order both of 1991. The laws provide for the protection of Jersey’s economic interests and as a financial centre as well as the actual depositors. All operations are supervised by the Finance and Economics Committee of Jersey who is responsible for the consideration and issuing of banking licenses.
There are more then 55 banks operating in total in Jersey including branches and subsidiaries of British clearing banks and international banks, offering a full banking range of services. Advantages to banking on the Island include confidentiality, freedom of currency exchange, tax deferral, tax reduction and low commercial and political risk.
The principal banking services offered include, deposit accounts, foreign exchange, trusts, fund management, captive management and purchase & sale of securities.
Jersey’s global location, time zone political stability and high traditional standards of regulation and service are deciding factors for financial institutions wishing to set up operations.
Some of the financial institutions operating include:
To learn more about the opening of a Jersey bank account or the banking system of your choice, Contact Us today.