Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the JFSC registration, including banking and payment rails.
Get a payment license in Jersey.
Jersey does not license payment firms; it registers them. Money service business is a class of financial service business under Article 2(9) of the Financial Services (Jersey) Law 1998, and Article 7(1) makes carrying it on without registration an offence punishable by up to seven years. The definition covers a bureau de change, cheque cashing, transmitting or receiving funds by wire or other electronic means, and money transmission services, and it stops there: Jersey has no separate e-money regime. No financial resource requirement has been determined for the sector, the Commission's own licensing policy says so, and the published fee basis has been GBP 3,590 to apply and GBP 3,590 a year since January 2023.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Jersey in brief
One registration, four activities, no capital figure - and no e-money law behind it.
Article 2(1) of the Financial Services (Jersey) Law 1998 lists money service business among the classes of financial service business, and Article 2(9) defines it in four limbs: a bureau de change; providing cheque cashing services; transmitting or receiving funds by wire or other electronic means; and engaging in money transmission services. Article 7(1) is the prohibition, and it is not decorative - a person shall not carry on financial service business in or from within Jersey unless registered, and the offence carries up to seven years' imprisonment. Article 8(3) sets what an application contains and adds such fees as the Commission publishes; Article 9 lets the Commission register with conditions, register without them, or refuse. There is no separate e-money statute in Jersey and no e-money institution to apply for, so a stored-value product is either fitted inside the Article 2(9) definition or it is licensed somewhere else. The working text is the consolidation as at 11 December 2024, and an amendment law has been adopted and sits pending.
Below the registration sits a notification. Article 4 of the Financial Services (Money Service Business (Exemptions)) (Jersey) Order 2007 exempts a person who tells the Commission in writing and whose money service business turnover was less than GBP 300,000 in the last completed financial period. Turnover is measured in Article 2 of the same order as the sterling value of currency bought and sold, funds transmitted and received, and cheques cashed - gross volume, not fee income, which is why the threshold arrives sooner than founders expect. A new business is tested after eighteen months or at its first financial period, whichever comes earlier, and an exempt business still registers for anti-money-laundering supervision under Schedule 2. Capital: none. The licensing policy states that no financial resource requirement has been determined for money service business, which is worth reading twice before you plan around it. What the Commission does require is local management and control with Jersey-resident board members actively engaged, and a compliance officer based in Jersey with direct access to the Jersey board. The fee basis is GBP 3,590 to apply and GBP 3,590 a year, set from January 2023 after a 15.4% increase; a 2.5% uplift applies across 2026 fees and the money service business notice carrying the new figure is not on the Commission's open pages.
Article 2(9) of the Financial Services (Jersey) Law 1998 defines money service business: bureau de change, cheque cashing, wire transmission, money transmission. Article 7(1) bans it without registration, with up to seven years' imprisonment. Article 9 lets the Commission register with conditions, without them, or refuse. There is no separate e-money regime in Jersey.
No financial resource requirement has been determined. Article 4 of the 2007 Order exempts turnover under GBP 300,000 on written notification. Fee basis GBP 3,590 to apply and GBP 3,590 a year. Jersey-based compliance officer, local management and control. Tax 0%, GST 5%. We run it from London.
The routes
Full registration, or the notification below GBP 300,000.
Jersey has one registration category for money service business and one turnover exemption underneath it. The choice is decided by gross volume rather than by product, so we test the forecast before we choose.
One registration category, and a notification below GBP 300,000 of turnover.
01 - MONEY SERVICE BUSINESS
Registration under the Financial Services (Jersey) Law 1998
One registration covering all four limbs of Article 2(9) - a bureau de change, cheque cashing, transmitting or receiving funds by wire or other electronic means, and money transmission. The Commission registers with or without conditions under Article 9, and files come through myJFSC because paper applications are not accepted.
One registration covering all four limbs of Article 2(9) - a bureau de change, cheque cashing, transmitting or receiving funds by wire or other electronic means, and money transmission. The Commission registers with or without conditions under Article 9, and files come through myJFSC because paper applications are not accepted.
- ✓The four activities of Article 2(9) in one category
- ✓Fee basis GBP 3,590 to apply · GBP 3,590 a year
- ✓No financial resource requirement determined
- ✓Local management and control (licensing policy 9.6.1)
- ✓Compliance officer based in Jersey (MSB Code)
- ✓Registration with or without conditions (Article 9)
02 - TURNOVER EXEMPTION
Below GBP 300,000 - notificationExempt money service business
Article 4 of the 2007 Exemptions Order releases a business from registration where it notifies the Commission in writing and its money service business turnover was under GBP 300,000 in the last completed financial period. The exemption is a notification rather than a filing, and it does not switch off anti-money-laundering supervision.
Exemption: written notification, turnover under GBP 300,000 in the last financial period; Schedule 2 AML registration still applies.
- ✓Turnover under GBP 300,000 in the last financial period
- ✓Written notification to the Commission (Order 2007, Art. 4)
- ✓Turnover counted under Article 2 of the same order
- ✓New businesses tested at 18 months or first period
- ✓Schedule 2 anti-money-laundering registration still applies
- ✓Article 3 exemptions for incidental and own-account cases
Costs and timelines are confirmed for your case before any work begins. The Commission's 2026 money service business fee notice is not published on its open pages, so the current amount is confirmed in writing before you file.
Why Jersey
No capital figure to fund, and a definition you can read in a minute.
Jersey is the least prescriptive of the three islands on money and the most demanding on people. The Commission wants a board it can reach on the island rather than a balance sheet it can measure.
✓
No capital figure to fund
The licensing policy says no financial resource requirement has been determined for money service business. Resources are still tested against the business plan, but there is no number to raise before filing.None determined for the sector.
✓
One statute, four activities
Article 2(9) puts a bureau de change, cheque cashing, wire transmission and money transmission under a single registration - one application, not four.Four activities, one registration.
✓
A door below the registration
Article 4 of the 2007 Order exempts money service business turnover under GBP 300,000 on written notification, which gives a pilot a legal way to start small.Under GBP 300,000 on notification.
✓
A published fee, not a quote
GBP 3,590 with the application and GBP 3,590 a year, in force since 1 January 2023 after a 15.4% rise, due each 29 February with a 5% late surcharge.GBP 3,590 apply and yearly.
✓
0% at the standard rate
Revenue Jersey taxes companies at 0% as standard. The 10% list names banking, trust, investment and fund services, insurance permit holders and credit providers - money service business is not on it.MSB not on the 10% list.
✓
One commission, 104,540 people
Statistics Jersey put the resident population at 104,540 at the end of 2024, and a single commission registers and supervises the whole finance industry.104,540 residents, one supervisor.
How it compares
How Jersey differs from the other island routes.
All three Crown Dependencies tax companies at 0% and none of them passports. Jersey asks for the least money up front and the most from the board.
Jersey vs other jurisdictions
| Feature |  Jersey | Other jurisdictions |
|---|---|---|
| Capital | None determined for money service business | EUR 20,000-350,000 in the EU |
| E-money | No separate regime | A dedicated EMI licence |
| Decision | No statutory clock, no published statistics | 3 months, or none |
| Corporate tax | 0% standard · 10% and 20% bands | 12.5-25% |
Capital
JerseyNone determined for money service business
Other jurisdictionsEUR 20,000-350,000 in the EU
E-money
JerseyNo separate regime
Other jurisdictionsA dedicated EMI licence
Decision
JerseyNo statutory clock, no published statistics
Other jurisdictions3 months, or none
Corporate tax
Jersey0% standard · 10% and 20% bands
Other jurisdictions12.5-25%
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Jersey | MSB registration (JFSC) | 0% · GST 5% | No capital determined · GBP 3,590 fee basis |
 Guernsey | Part III FFB licence (GFSC) | 0% · no GST | PII GBP 1,000,000 · fee GBP 4,925 |
 Isle of Man | Class 8 licence (IOMFSA) | 0% · VAT 20% | 2 resident directors · fee GBP 2,142-6,424 |
 Gibraltar | PI / e-money (GFSC) | 15% local | EUR 125,000 · EMI EUR 350,000 |
JerseyLicense typeMSB registration (JFSC)
Taxation0% · GST 5%
RequirementsNo capital determined · GBP 3,590 fee basis
GuernseyLicense typePart III FFB licence (GFSC)
Taxation0% · no GST
RequirementsPII GBP 1,000,000 · fee GBP 4,925
Isle of ManLicense typeClass 8 licence (IOMFSA)
Taxation0% · VAT 20%
Requirements2 resident directors · fee GBP 2,142-6,424
GibraltarLicense typePI / e-money (GFSC)
Taxation15% local
RequirementsEUR 125,000 · EMI EUR 350,000
Before you apply
Requirements for the JFSC registration.Requirements for the registration.
The law sets the prohibition and the application; the licensing policy and the Money Service Business Code of Practice set what the Commission reads. The checklist below is what a passing file contains.
01
Registration under Article 7 before any money service business is carried on in or from within Jersey - the offence carries up to seven years' imprisonment.
02
The activity mapped to Article 2(9), since one category covers a bureau de change, cheque cashing, wire transmission and money transmission alike.
03
Local management and control under the Commission's licensing policy 9.6.1, with Jersey-resident board members actively engaged in the business.
04
A compliance officer based in Jersey with direct access to the Jersey board, under the Money Service Business Code of Practice in force since 1 January 2021.
05
An adequate span of control, again under the Code - the Commission reads the board and the reporting lines before it reads the product.
06
Principal persons and key persons put through personal questionnaires on myProfile; the Commission does not accept paper-based applications.
07
Financial resources sized to the business plan rather than to a rule, because no financial resource requirement has been determined for the sector.
08
Anti-money-laundering policies, a money laundering compliance officer and a reporting officer notified to the Commission, with ten-year record retention.
09
Outsourcing arrangements notified, with responsibility staying on the Jersey board.
10
Fees paid on the published basis - GBP 3,590 with the application and GBP 3,590 a year, due 29 February, with a 5% surcharge on late payment.
01
Registration before any activity (Art. 7).
02
Activity mapped to Article 2(9).
03
Local management and control (policy 9.6.1).
04
Compliance officer based in Jersey.
05
Adequate span of control (MSB Code).
06
Personal questionnaires via myProfile.
07
Resources sized to the business plan.
08
AML policies, MLCO and MLRO notified.
09
Outsourcing notified to the Commission.
10
Fees GBP 3,590 apply and yearly.
Reflects the Financial Services (Jersey) Law 1998 (consolidated 11 December 2024), the Money Service Business (Exemptions) (Jersey) Order 2007, the MSB Code of Practice of 1 January 2021 and the JFSC licensing policy, as of 2026.Financial Services (Jersey) Law 1998 (cons. 11.12.2024); Exemptions Order 2007; MSB Code of Practice 2021; JFSC licensing policy.
How it works
From first call to the JFSC register.
01
Route and strategy
Full registration or the Article 4 exemption; the four limbs of Article 2(9) mapped to your product and volume forecast.Registration or Article 4 exemption.
02
Company and board
Jersey company formed, resident board members appointed, principal and key persons prepared for their personal questionnaires.Resident members, key persons ready.
03
The application file
Business plan, governance, compliance and anti-money-laundering documentation filed through myJFSC, with the fee.Plan, governance, AML via myJFSC.
04
JFSC review
Question rounds answered; the law prints no decision period and the Commission publishes no statistics - plan on six to nine months.No printed clock; 6-9 months realistic.
05
Registration and launch
Registration granted with or without conditions under Article 9, the compliance function live, and the annual fee calendar running.Article 9 grant, compliance live.
Quick facts
RegulatorJersey Financial Services Commission
LawFinancial Services (Jersey) Law 1998
RegistrationMoney service business (Art. 2(9))
CapitalNone determined
ExemptionTurnover under GBP 300,000
Fee basisGBP 3,590 apply · GBP 3,590 a year
Timeline6-9 months realistic
Corporate tax0% · GST 5%
No decision period appears in Articles 8 and 9, and the Commission publishes no processing statistics. What moves a file is the quality of the board and the policies behind it, which is where we spend the time.
Your Jersey desk
Run from our London office.
Prifinance London
London · coordinating Jersey mandates
7 Bell Yard, London
01
Jersey company and board
The company formed and the board built to the Commission's local management and control test, with resident members who are actively engaged rather than nominal.Resident members, actively engaged.
02
The JFSC file
Application, business plan, personal questionnaires and policy pack filed through myJFSC - drafted by us and defended through the question rounds.Plan, questionnaires, policies via myJFSC.
03
Compliance function
A compliance officer based in Jersey with direct access to the board, plus the money laundering compliance and reporting officers the Code expects.Jersey officer with board access.
04
Banking and records
Client banking arranged with the business plan, and the ten-year record retention the Code requires built into the operation from day one.Client banking, ten-year retention.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Jersey.
A 0% standard company rate, a 10% band for named financial sectors, 20% for utilities and property income, GST at 5%, and a 15% multinational tax for the largest groups from 2025.
Corporate tax 0%
Revenue Jersey's standard rate for companies is 0%. The rate a licensee actually pays depends on which list its activity falls into.Standard company rate.
The 10% band
Regulated financial service companies pay 10%. The published guidance names banking, trust, investment and fund services, insurance permit holders and credit providers; money service business is not on that list, and we confirm the position for your structure.Listed financial sectors.
Utility and property 20%
Jersey utility companies and property income companies pay 20%. Large retailers above GBP 2 million of turnover sit on a sliding scale from 0% to 20%.Utility and property income.
GST 5%
The goods and services tax rate is 5%, with registration required once supplies exceed GBP 300,000 in any twelve months - the same figure as the money service business exemption, measured differently.Register above GBP 300,000.
Multinational tax 15%
Groups with revenue of EUR 750 million or more pay the multinational corporate income tax at 15% for periods beginning on or after 1 January 2025.EUR 750M groups from 2025.
Withholding
Revenue Jersey publishes concessions exempting Jersey bank interest and the social security pension for non-residents. It makes no explicit public statement on dividend withholding to non-residents, so that treatment is confirmed for your structure before profits move.Dividend position confirmed per case.
Tax summary
Corporate tax0% standard rate
Financial services rate10% for listed sectors
Utility and property20%
GST5% · registration above GBP 300,000
Multinational tax15% from 2025 (EUR 750M groups)
Dividend withholdingNot stated on official pages
*Figures as of 2026 per Revenue Jersey. Treaty and regime positions are assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Jersey company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, registered business.
Follow Prifinance
Active across our channels.
Jersey · JFSC
Launch your payment project in Jersey with expert support.
Full-service assistance - from company formation to the money service business registration, compliance staffing, banking and ongoing supervision.
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Request a free conclusion →FAQ
The Jersey money service business registration, answered.
What registration does a payment business need in Jersey?+
Registration by the Jersey Financial Services Commission as a money service business under the Financial Services (Jersey) Law 1998. Article 2(9) covers a bureau de change, cheque cashing, transmitting or receiving funds by wire or other electronic means, and money transmission services.
Is there an e-money licence in Jersey?+
No. Jersey has no separate electronic money regime and no e-money institution to apply for. A stored-value product is either fitted inside the Article 2(9) definition or it is licensed in another jurisdiction, which is the point at which many groups look at the Isle of Man.
How much capital is required?+
None has been set. The Commission's licensing policy says that no financial resource requirement has been determined for money service business. Resources are still assessed against the business plan, and the Code requires an adequate span of control.
What does registration cost?+
The published fee basis is GBP 3,590 with the application and GBP 3,590 a year, in force since 1 January 2023 after a 15.4% increase. Annual fees fall due on 29 February and carry a 5% surcharge if late. A 2.5% uplift applies across 2026 fees, and the money service business notice with the new figure is not on the Commission's open pages, so we confirm the amount before you file.
Who can rely on the turnover exemption?+
Article 4 of the 2007 Exemptions Order exempts a business that notifies the Commission in writing and whose money service business turnover was under GBP 300,000 in the last completed financial period. A new business is tested at eighteen months or at its first financial period, whichever is earlier. Schedule 2 anti-money-laundering registration still applies.
How is turnover measured for that exemption?+
Article 2 of the same order: the sterling value of currency bought and sold, of funds transmitted and received, and of cheques cashed. It is gross volume rather than fee income, so a small revenue line can still break the threshold.
What substance does the Commission expect?+
Local management and control with Jersey-resident board members actively engaged, under licensing policy 9.6.1. The Money Service Business Code of Practice adds a compliance officer based in Jersey with direct access to the Jersey board, an adequate span of control and ten-year record retention.
How long does registration take?+
Articles 8 and 9 print no decision period, and the Commission publishes no processing statistics. Applications go through myJFSC and paper filings are not accepted. Plan on six to nine months from first call to registration.
How are payment companies taxed?+
The standard company rate is 0%. A 10% rate applies to regulated financial service companies on a published list that does not name money service business, and 20% to utility and property income companies. GST is 5%, with registration above GBP 300,000 of supplies in twelve months, and groups above EUR 750 million of revenue pay 15% multinational corporate income tax for periods from 1 January 2025.
Why Jersey rather than Guernsey or the Isle of Man?+
Jersey has the simplest entry: one registration, four activities, no capital figure and one flat fee. Guernsey prints its client-money and wind-down rules and costs GBP 1,640 a year to hold. The Isle of Man has an e-money class Jersey lacks. If you issue stored value, look at the Island first.
Which registration?+
JFSC money service business, Article 2(9).
E-money licence?+
None - Jersey has no e-money regime.
Capital?+
No financial resource requirement determined.
Cost?+
GBP 3,590 to apply and GBP 3,590 a year.
Exemption?+
Turnover under GBP 300,000, on notification.
Turnover test?+
Gross volume, not fee income.
Substance?+
Jersey board and compliance officer.
How long?+
No printed clock; 6-9 months realistic.
Taxes?+
0% standard, 10%/20% bands, GST 5%.
vs Guernsey / Isle of Man?+
Simplest entry; no e-money class.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Jersey Financial Services Commission or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.