Jersey is a British Crown Dependency and a major international finance centre for private wealth, trust and company administration, funds and private banking. It is regulated by the Jersey Financial Services Commission (JFSC), and its banking sector consists mainly of subsidiaries and branches of large international banking groups.
Risk flagStandard
FATFNot listed
EU AML high-risk listNot listed
EU tax listNot listed
Licence regimes4
CurrencyGBP
S&P ratingAA-
Next electiondue 2030
Not on the FATF grey or black list (plenary of 19 June 2026), not in the annex of Delegated Regulation (EU) 2016/1675 as consolidated on 29 January 2026, and not in Annex I of the EU tax list as revised in February 2026. Checked 7 October 2026.
Government and politics
Government
Parliamentary democracy under the British Crown (Crown Dependency)
Monarch
Charles III · since September 2022
Chief Minister
Lyndon Farnham (Independent)
Governing parties
Independents (non-party Council of Ministers)
Last election
States Assembly general election, 7 June 2026
Next election
States Assembly general election, due 2030. Farnham was re-selected as Chief Minister by the new Assembly in June 2026
Legislature
States Assembly (unicameral): 49 elected members (9 Senators, 28 Deputies, 12 Connétables) plus non-voting ex officio members
Legal system
Mixed system of Norman customary law, English common law and local statute
Economy and finance
Population
104.5k (2024)
GDP
USD 8.8bn (2024)
GDP per person
USD 84,143 (2024)
Currency
Pound sterling (local Jersey pound notes and coins also issued) (GBP), Jersey pound issued by the States of Jersey at par with GBP; pound sterling circulates freely
Central bank
None; Jersey Financial Services Commission is the financial regulator
Credit rating
S&P AA- (stable) (as of February 2026)
Finance and insurance account for about 38% of the economy, making Jersey one of the leading international finance centres for banking, funds and trust business.
Bank
Registration to carry on deposit-taking business
Minimum capitalNot published
TimelineNot published
AuthorityJFSC
Law
Banking Business (Jersey) Law 1991
Fees
Application fee GBP 32,829 plus a pro-rated annual fee from the grant date to the next 1 January (2026 fees notice).
Passporting
None; Jersey is outside the EU and the UK regulatory perimeter.
Key requirements
Internationally active groups: at least five years' satisfactory track record as a supervised bank and an investment-grade credit rating (applicant or group)
Home supervisor must provide consolidated supervision and confirm agreement to the Jersey operation
Jersey start-ups must show physical presence in Jersey with meaningful decision-making and management; shell banks are prohibited (BBJL Art. 10)
Directors and controllers need a no-objection decision; capital, liquidity and large exposure requirements are set in the Banking Code of Practice
Financial Services (Jersey) Law 1998, Art. 2(9) (bureau de change, cheque cashing, transmitting or receiving funds by wire or other electronic means, money transmission services)
Virtual asset service provider (Schedule 2 business) registration
Minimum capitalNot published
TimelineNot published
AuthorityJFSC (AML/CFT/CPF supervision)
Law
Proceeds of Crime (Jersey) Law 1999, Schedule 2 Part 4; Proceeds of Crime (Supervisory Bodies) (Jersey) Law 2008
Fees
Application fee GBP 555 for a direct application by a VASP (GBP 205 for a sole trader; lower fees via an AML service provider) under the 2026 fees notice.
Passporting
None.
Key requirements
Covers exchange between virtual assets and fiat, exchange between virtual assets, transfer, safekeeping or administration, and services related to an issuer's offer of a virtual asset
Register before conducting the activity
The VASP must complete the application itself, not an AML service provider
AML/CFT/CPF Handbook, including travel rule obligations
Application fee GBP 2,910 for Class A, B or C (or any combination); GBP 1,452 for Class D or Class E. Annual fee from a GBP 4,716 base plus per-employee charges for Classes A to C (2026 fees notice).
Passporting
None.
Key requirements
Covers dealing in investments, discretionary investment management, investment advice and safekeeping
Compliance with the Investment Business Code of Practice
Jersey Financial Services Commission (JFSC) · websitebanks, Payment service providers, Investment firms, Virtual asset service providers (VASPs), Trust companies, Funds
Jersey has no standalone e-money institution or payment institution licence; payment and money transmission activity falls under money service business in the Financial Services (Jersey) Law 1998. Minimum capital for banks is set in the Banking Code of Practice and for other sectors in the relevant codes; these were not retrieved, so figures are null. The JFSC publishes no statutory decision timeline on the pages consulted. A 2027 fees notice has been published; 2026 figures are used here. Jersey is a significant trust and fund centre (trust company business and fund services business are regulated under the same 1998 Law); those regimes are not detailed here.
General information
About Jersey
Natural Earth boundaries. Map is indicative.
Status
Crown Dependency
Capital
Saint Helier
Area
116 km²
Official languages
English, French
Time zone
UTC+00:00 (UTC+01:00 in summer)
Main exports
Financial services (banking, funds, trust and company administration)
Professional services
Tourism
Agricultural produce (Jersey Royal potatoes, dairy)
Main export partners
United Kingdom
Sources for the country information(9)
Country information checked 9 October 2026. Licensing data updated 7 October 2026. Information only, not legal advice; requirements change. Regulatory notice.
