Jersey is one of the world’s premier international finance centres. It was one of the first international finance centres to be placed on the OECD White List, is ranked first in the leading Global Finance Centres Index for Offshore Centres and has been ranked by the IMF as one of the best international finance centres globally.
Jersey operates a banking depositor protection scheme.
Jersey is a tax neutral jurisdiction and is regarded as one of the most stable offshore jurisdictions in the world. It has a strong history of the rule of law and a local finance industry that draws on the expertise of more than 12,000 people.
History and legal system
Jersey was part of the Duchy of Normandy but became subject to the English Crown in 1066 following the Norman conquest of England. Alongside the other Channel Islands and the Isle of Man, Jersey makes up the group of self-governing territories known as the British Crown Dependencies.
This means that it has its own government, fiscal and legal systems and its own courts of law. As a consequence of its origin as part of the Duchy of Normandy and subsequent rule by the English Crown, Jersey law has developed as a mixture between the civil systems prevalent in Western Europe (derived from Roman law) and the common law system derived from English jurisprudence.
Whilst it is clear that certain areas of law have developed from Norman customary law or English law, there are others, such as the law of contract, which have been influenced by both and where Norman customary law has been silent, influence has been drawn from wider French civil law.
As such, it should never be assumed that Jersey law is the same as English law.
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