Important changes to Jersey’s High Value Residency (HVR) regime have now taken effect under the Control of Housing and Work Law, introducing a revised stream lined framework for high net worth individuals seeking to relocate to Jersey.
Key changes
The former 2(1)(e) permission has been removed. Existing 2(1)(e) residents are now classified as Entitled under Regulation 5. The Government will also now refer to new applicants as High Net Worth Individuals (HNWIs).
The previous political Housing and Work Advisory Group (HAWAG) process has also been abolished.
New framework
Applications will now be considered by a new Housing and Work Control Panel, which is expected to comprise the same Ministers who previously formed HAWAG. The Panel will recommend the grant of status where justified on economic or social grounds and is in the best interests of the community. Following assessment and recommendation (subject to any conditions) by the Panel, the Housing Department will grant the