General Overview. Financial sector is well developed in Jersey. This offshore jurisdiction is known for its strong banking, investment funds and trusts management sectors, however offshore captive insurance is not that popular in Jersey as in sever other offshore countries. Jersey has a good international reputation and is known for its high quality financial services.

Banking Sector. A big number of local and international banks from all over the world are registered or have established their branches in Jersey, as the jurisdiction has a good legislation and strong regulations of financial institutions, in particular banks. Banks are supervised by the Financial Services Commission and it is necessary to obtain a banking license for providing banking services from Jersey.

Investment Funds.  Investment fund management sector is regulated by the Financial Services Commission. Historically many fund managers chose Jersey to establish and manage their funds from there due to its geographical location and agreements with some European countries where Jersey funds could be marketed. The increased competition from other European and offshore countries’ side reduced many offshore fund managers’ choice of Jersey. Jersey, however, aims to maintain high standards of the fund management industry and constantly improves its regulations, in order to be in line with international recommendations and requirements.

Trust Management. Due to UK’s anti-avoidance legislation, Jersey is no longer chosen mainly by UK citizens for offshore trust management purposes, but by other nations’ representatives for tax optimization and asset protection. Legal and financial services and support are very well developed in Jersey, that lets the jurisdiction provide high level offshore trust services to international entities.
   
Insurance Sector. Different offshore insurance license categories may be obtained in Jersey for conducting insurance business in or from the jurisdiction.