Restricted Casinos in Jersey
Everyone knows a small island in the Channel, Jersey, has great hopes of becoming in the near future a new hub of the online gambling industry. And the first step in this direction has already been made.
As you know, the island of Jersey is in the Crown of the British Crown, but it is still not part of the UK. The population of this island is almost 100 000 people. And the main direction of the economic sphere of Jersey is financial services. The island is especially popular with offshore foreign companies, including Russian ones, who are looking for easier taxation. Show more
And now Jersey has become an advantageous place to register online casinos and other areas of this industry. According to the new British law, all operators taking bets from UK residents are required to pay taxes in favor of the British state treasury.
The Jersey Gambling Commission (JGC) has been issuing licenses to online casinos and bookmakers since 2014, but only for operating on the island. The popularity of Jersey among online casinos has brought a simpler tax system compared to the UK. Administratively, the island belongs to Great Britain and is located in the English Channel. In early 2015, JGC issued the first license for remote operation of the company Twelve40 Limited.
Thus, the set of online gambling operators with the main income from British players, now it is beneficial to have a head office located on the islands of Jersey, Guernsey, Alderney or the Isle of Man. As Jersey is still a territorial unit of England, but Gibraltar, for example, already belongs to the foreign territory.
And now the commission on gambling on the island of Jersey issued its first license to permit official gambling activities to the operator Twelve 40. And in the near future promises to join him and many other operators.
According to analysts’ forecasts, the new law will allow the island of Jersey to receive a large annual income for the local treasury. So, his neighbor across the English Channel, the island of Guernsey, receives annual revenues from online operators of £ 50 million. Show less
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