For the first time in thirteen years, the Jersey Financial Services Commission is proposing to increase its fees for registry-related services.

The JFSC is overhauling its entire funding regime and its proposals for fee increases are part of this. It has published a consultative document with the proposals in, which are likely to affect alternative investment funds and other entities.

The main proposals to affect regulated businesses and islanders would be a £50 increase in the annual return and the introduction of a £50 fee for registering a business name, which would be renewed every three years.

By contrast, the JFSC is also proposing a new five-tier system for company incorporations with a reduced fee for a five day turnaround which would be £50 less than the current standard two day option. Under the proposals, record searching and monitoring for certain companies, partnerships and foundations would continue to be free, and other search fees would gradually be reduced so that some basic information would be available without charge.

The fees are proposed under the following statutes.
Registration of Business Names (Jersey) Law 1956;
Companies (Jersey) Law 1991;
Foundations (Jersey) Law 2009;
Incorporated Limited Partnerships (Jersey) Law 2011;
Limited Liability Partnerships (Jersey) Law 1997;
Limited Partnerships (Jersey) Law 1994;
Security Interests (Jersey) Law 2012; and
Separate Limited Partnerships (Jersey) Law 2011.