Plans afoot to raise the bar for expats seeking Jersey residency

Plans are afoot in Jersey to increase the minimum income tax paid by new high-net-worth residents to £250,000. So-called high value residents (HVR), known as 2(1)(e) status, currently pay £170,000 tax on the first £850,000 they earn and 1% on any worldwide income above that level.  According to a BBC report, the island's Minister for Treasury and Resources proposed an increase from £170,000 to £250,000 for new HVRs. Deputy Ian Gorst also proposed raising the minimum property price for new HVRs from £1.75m to £3.5m. The expectation is also that applicants have a net worth of "at ...