Residency Grants to Wealthy Individuals Double

The number of wealthy individuals granted permission to live in Jersey under the High Value Residency scheme more than doubled in 2025, according to newly released figures.

Chief Minister Lyndon Farnham confirmed that 37 applications were approved last year, up from 18 in 2024, in response to a written question in the States Assembly.

However, official data shows the increase in approvals did not translate into a higher net number of residents. In 2025, there were 29 arrivals under the scheme and 11 departures, resulting in a net gain of 18 people. By comparison, 2024 recorded 29 arrivals and 10 departures, producing a slightly higher net increase of 19, despite fewer approved applications.

Mr Farnham said the total number of high value residents currently stood at 233. He argued the overall impact of the scheme was better measured by net arrivals rather than approvals alone, noting that over the past decade the programme had added an average of eight people per year.

He said the scheme, introduced in 1974, was originally designed to allow for around 15 housing consents annually for high value residents settling in Jersey. That target was reaffirmed in 2005 and remains in place, although departures from the scheme occur each year.

Application approvals, arrivals and exits are monitored jointly by the Department of Economy and Revenue Jersey and are reported periodically to the Housing and Work Advisory Group.

Mr Farnham said ministers must be satisfied there are clear economic or social benefits before granting high value residency. Requirements include a minimum annual tax contribution of £250,000, alongside an expectation that participants donate at least £100,000 per year to charitable causes.