At present, the purchase of a property through the acquisition
of the share capital of a property owning company is exempt from
stamp duty. However, the States of Jersey shortly intends to bring
forward legislation to impose a tax equivalent to stamp duty on
such a sale, effectively closing the "loophole".
Guernsey introduced such a measure back in November 2017 in a
law which reflects much of the same language as that now proposed
in Jersey.
The Law Officers' Department has confirmed that a draft Law
has been lodged for debate – the Draft Taxation (Enveloped
Property Transactions) (Jersey) 202-. Following local debate and if
approved by the States of Jersey, it will then require Privy
Council approval, likely to be discussed at their April meeting
which is expected to be held post Easter. The draft Law will come
into effect seven days after registration by the Royal Court, so
practically the Law is likely to be brought into force, assuming it
is approved, in
