High Value Residency Scheme

WQ.4/2026

WRITTEN QUESTION TO THE CHIEF MINISTER

BY DEPUTY J. RENOUF OF ST. BRELADE QUESTION SUBMITTED ON MONDAY 19th JANUARY 2026 ANSWER TO BE TABLED ON MONDAY 26th JANUARY 2026

Question

"Further to the number of approvals under the High Value Residency (HVR) Scheme in 2025, which exceeded the previously-stated aspiration of 15 approvals per year, will the Chief Minister –

1. explain what policy framework, if any, currently exists regarding HVR approvals;
2. state the number of approvals, if any, the Minister is targeting;
3. provide clarification on the methodology used to track approvals, including the Government's preferred  measures  and  a  table  detailing  the  total  number  of  approvals  according  to  this methodology; and
4. advise whether the previously-stated aspiration has been superseded and, if it has, explain when this was changed and for what reasons?"

Answer

1. The policy framework is provided for in paragraphs 117 – 217 of the P Residential and Employment Status Guidance 20161205 RB.pdf. See extract in Appendix below.

In relation to paragraph 121(g), the current minimum expectation of charitable giving is £100,000 per annum. This is in addition to the minimum tax liability of £250,000 per annum and any wider economic or other benefits.

2. When the scheme was established in 1974, the aim was it would result in 15 housing consents per year for people arriving and settling in Jersey. This objective was reaffirmed in 2005 and remains in place. However, a number of individuals also leave the scheme each year.

The overall benefit and impact is more clearly illustrated in the net number of new arrivals. Over the past 10 years this has averaged at an additional 8 people per year.

3. Application approvals, actual arrivals in Jersey, and departures from the scheme are all tracked between the Department of Economy and Revenue Jersey and reported periodically to the Housing and Work Advisory Group. They can be viewed monthly at High Value Residency.

Table: 10-year statistics - applications, arrivals, departures from the scheme, and change in number 2(1)(e) residents:

Note: 233 2(1)(e) residents currently live in Jersey.

4. See part b above.

Appendix: Extract from Residential and Employment Status Guidance High Income and High Net Worth Applications for Residential Status

117. A person may be granted Entitled status under Regulation 2(1) (e) by the Chief Minister if the Housing and Work

Advisory Group is satisfied that there are economic and/ or social grounds for doing so and that it would be in the best interests of the community. This includes consideration of financial and background information, due diligence checks, and an officer recommendation.

118. Applications for Entitled status on these grounds are not considered from people who are existing Jersey residents,

and rather, as part of a decision to relocate to the Island.

119. The following criteria must be met in respect of applications for Entitled status on these grounds: The applicant's

financial circumstances must indicate that they will have sufficient taxable income on an annual basis to generate the requisite personal income tax liability each year. The expected level of taxable income is at least £1,250,000 each year. This means they are required to have an annual personal income tax liability of at least £250,000 each year in accordance with Article 135A of the Income Tax (Jersey) Law 1961 and relevant Regulations.

120. In the event their income is insufficient to generate this tax liability, they are effectively subject to a `top up charge'

to ensure the requisite minimum tax payment is met. This minimum charge is updated in line with accumulated inflation every 5 years, with the next revalorization taking place in January 2028.

121. Individuals are also expected to have net wealth of £10,000,000, excluding their principal private residence, on the grounds this provides assurance that in the event income proves insufficient to meet the minimum tax liability

that wealth can be used. It also provides comfort as to the ability of the applicant to invest their wealth in Jersey.

Provided the defined and measurable test in 119 and 121 is met, other factors might nevertheless have a positive or negative bearing in the determination of the application and may be considered in order that the Chief Minister and the Housing and Work Advisory Group can assess the likely impact of the applicant taking up residence in Jersey:

1. The business/ social background of the applicant and the associated benefit that could arise for Jersey because of their taking up residence in the Island.
2. Any other general benefits which the Island might obtain if the applicant were to take up residence.
3. Any voluntary work or business contribution to the local community that might accrue.
4. Any cultural or sporting initiatives (particularly aimed at youth or educational organisations) driven by the applicant.
5. The nature of any media coverage of activities either by, or involving, the applicant, both in their business or social life. This would include any potential negative images relating to past business practice or positive images such as sporting achievements,
6. Any cultural interests or skills that would be of benefit to the local community.
7. General lifestyle and family circumstances, including charitable and voluntary work. Ministers wish to see individuals move to Jersey who will actively support our charitable sector and civic society, becoming part of our community.
8. Sporting or cultural interests which might benefit local clubs, or the wider local community, and/ or international recognition in a cultural, sporting or business activity that is likely to bring positive publicity for Jersey because of being a resident of the Island.

122. In addition to the above, an applicant's intention to carry out further business activities in the Island will be considered, with particular regard to future local employment, training, diversification, and any potential resultant

increased tax revenues. Ministers place a premium on economic activity in the Island, especially in relation to activities which support a highly productive and diversified economy.

123. Entitled status on economic and social grounds may be granted with conditions attached to that status. In

particular, the following conditions will be applied:

1. Any property purchased must, if a freehold house, have a dutiable transaction value of at least £3.5 million and, if an apartment, at least £1.75 million (unless otherwise agreed).
2. Only one single unit of residential accommodation can be leased or purchased for occupation by the person as their sole or main place of residence in Jersey (unless otherwise agreed), and permission to retain ownership of and occupy `Qualified' property will depend, in future, on the person retaining Entitled status.
3. Any transaction in relation to property entered into by the person, either individually or via a body corporate, must incur Stamp Duty or Land Transaction Tax or Enveloped Property Transaction Tax.
4. 2(1) (e) residents may rent property but are generally expected to purchase their sole or main residence, and as such, conditions will be applied limiting the ability to rent property up to a period of 1 year following arrival, or unless otherwise determined reasonable and necessary in all the circumstances, for example, in-between property transactions or to complete a transaction, to undertake significant refurbishment.

124. Applicants are also permitted to do the following once approved and ordinarily resident in Jersey, provided they

continue to meet the conditions attached to their Entitled status:

1. To purchase, develop and sell residential property through a property development company, subject to the condition that any freestanding units of residential accommodation must be sold out of the company to Entitled or Licensed persons on completion of the development.
2. To purchase residential property adjoining their main place of residence in Jersey, where it can be demonstrated that the adjoining property more naturally falls within the same curtilage as the property already owned and occupied as their main residence. If approved, it is expected that the purchase would proceed in the same person or company name as the main residence, and that the purchase may be subject to conditions.

125. When a 2(1) (e) individual has been continuously ordinarily resident in Jersey for 10 years, they can apply for

Entitled residential status in their own right and thereby participate in the local property market as they wish. However, if they also wish to continue to benefit from 2(1) (e) arrangements, then conditions related to their ability to own and occupy `Qualified' residential property will still apply.

126. 2(1)(e) status is granted to only one individual in a marriage or civil partnership arrangement. In the event of the

applicant's death, the surviving spouse or civil partner is entitled to remain in the family home, if the property was purchased in joint names, or if the surviving spouse or civil partner 26 inherits the property, in the same way as any other resident. Alternatively, they may apply for 2(1)(e) status in their own right (and so long as they meet the requirements around the minimum tax liability may be granted 2(1)(e) status). This applies equally in relation to divorce, i.e. the spouse or civil partner without 2(1)(e) status may apply in their own right (and so long as they meet the requirements around the minimum tax liability may be granted 2(1)(e) status).

127. Once approved, applicants have 6 months to move to Jersey, and after 6 months the permission granted expires

unless otherwise extended. The prevailing policy in place at the time of approval will apply to applicants, including minimum property prices in respect of their first property purchase (any subsequent purchases will be subject the prevailing policy in relation to property prices)