The Royal Bank of Scotland International Limited (RBS International) has its headquarters in Jersey and it is home to many of the executive and central functions. As one of the Island's key employers, we play a major role in Jersey's buoyant financial sector.

Jersey is also the base for:

• The development of the Bank's market-leading multi-currency banking platform and eQ, the electronic banking system for corporate customers
• RBS International's largest treasury specialist, lending and securities services operations
• RBS International's 24-hour Offshore Banking Centre.
• The close proximity of these sections allows teams of experts to work together with corporate Relationship Managers to provide innovative offshore solutions for the Bank's corporate customers.

Island profile

The largest of the Channel Islands, Jersey has a privileged constitutional relationship with the United Kingdom. Though part of the British Isles, it has its own domestic government, called the States of Jersey, which sets the Island's fiscal and legal policies. Jersey is a member of the OECD (Organisation for Economic Co-operation and Development), but doesn't belong to the European Union, with whom its relationship is defined by a protocol attached to the Treaty of Accession of the United Kingdom to the European Community. Benefiting from strong economic growth and low unemployment, the Island's chief industry is finance, then agriculture and tourism. To support this sector, Jersey has invested heavily in telecommunications, transportation links and professional training resources.

Finance and economics

Over the years, Jersey has developed as an offshore finance centre of repute and offers its clients access to industry professionals. Financial institutions are attracted by the Island's stable government, as well as its proximity to both the UK and continental Europe. Jersey issues its own sterling denominated currency in monetary union with the UK. Jersey also has:

• Special offshore structures, which enable non-resident entities to gain tax efficiencies e.g. Exempt Companies, International Business Companies and Limited Partnerships.
• Currently 20% income tax for residents (a rate unaltered for more than 50 years)
• Retention Tax on deposits and certain investments for EU residents
• No capital gains tax
• No estate tax
• No inheritance tax, although minimal probate duty is payable in certain situations
• No Value Added Tax (VAT)
• No exchange control restrictions For further information on Jersey's finance industry, you might like to visit www.jerseyfsc.org or www.gov.je.

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