Jersey Sees Surge in High-Value Residents as Record Number of Wealthy Families Relocate

A record influx of high-net-worth individuals is set to arrive in Jersey, with 36 high-value resident applications approved for relocation by the end of 2025.

A further 35 applications are already under way for next year, many of which are expected to be finalised before March 2026. The figures, released by Locate Jersey, show more than double the average annual intake of 15 over the past decade.

To qualify for Jersey’s high-value residency scheme, applicants must prove a sustainable annual worldwide income of at least £1.25 million, hold assets exceeding £10 million, and commit to paying a minimum of £250,000 in tax each year. On arriving in Jersey, they must also purchase a home valued above £3.5 million or an apartment priced over £1.75 million.

New analysis by estate agency Knight Frank indicates that high-value applicants are wealthier than ever. Average declared wealth on arrival reached £135 million last year, up sharply from £48 million in 2020. Property spending has increased too, with newcomers purchasing homes averaging £7.8 million in 2024—a new record, surpassing the previous year’s figure of £6.3 million.

A recent article in The Times, titled Why Britain’s billionaires are fleeing to Jersey, linked the rise in relocations to changes in the UK’s tax regime, including the abolition of non-dom status and the introduction of a “mansion tax” on properties worth more than £2 million.

Oliver Rodbourne, head of Knight Frank’s Channel Islands team, said the shifting UK tax landscape had nudged many wealthy individuals who were previously undecided.

“People who might have stayed in the UK under the old system are now taking a closer look,” he explained.

Rodbourne added that Jersey’s closeness and cultural similarity to the UK continue to appeal to those relocating from the mainland.

“Brexit may also have played a part,” he said. “It’s a big difference boarding a 30-minute flight without needing a passport to somewhere familiar, rather than moving abroad to a place where you don’t know the language or culture.”

While those seeking sunnier climates may look elsewhere, Rodbourne said Jersey remains “top of the list” for individuals prioritising tax advantages.

“At the moment, there’s no reason to think this trend won’t continue in the years ahead, provided the current government maintains its approach,” he added.