Monday 09 December 2019
Select a region

JFSC proposes fee changes for registry services

JFSC proposes fee changes for registry services

Monday 29 April 2019

JFSC proposes fee changes for registry services


The Jersey Financial Services Commission is seeking island-wide feedback on suggested changes to registry fees.

If agreed, they will come into effect next year.

The main changes being put forward are reductions to fees for certain record searches, a £30 increase on the annual return, and a 10% rise in the cost of a number of other registry services.

computersearchmouse.jpg

Pictured: If agreed, the search fee increases will come in next year.

The recommended fee increases are said to be broadly in line with inflation and the decreases will eventually lead to some registry services being offered free of charge.

For example, the cost of a general search would decrease from £4 to £2, while company, partnerships and foundation record searching and monitoring would still be free.

The JFSC last increased registry fees in 2017 and, prior to that, charges had not been increased for 13 years.

Julian Lamb, who is the JFSC’s Director of Registry and the Registrar, commented: "We believe these changes are fair and proportionate. They are also necessary to ensure the on- going accuracy of the data on our registers and to maintain significant benefits and security for organisations using the Registry.

"Our aim is to facilitate appropriate access to accurate, vetted information while managing the increasing costs of cyber-security and Anti-Money Laundering/Combatting the Financing of Terrorism, and developing our registry capacity.”

The full Consultation Paper on registry fees can be viewed online and local businesses as well as the general public are invited to share their views by 24 May 2019.

If agreed and, subject to changes in legislation where required, the new fees will be effective from 1 January 2020.

Sign up to newsletter

 

Comments

Comments on this story express the views of the commentator only, not Bailiwick Publishing. We are unable to guarantee the accuracy of any of those comments.

Once your comment has been submitted, it won’t appear immediately. There is no need to submit it more than once. Comments are published at the discretion of Bailiwick Publishing, and will include your username.

Posted by Jersey Sunshine on
Jersey Chamber should be straight on to this. All businesses should oppose these increases (they are not proposals!). A 15% increase to the annual return is not inflation over 3 years. A 50% decrease in a company search after a 100% increase is just a softner and gifts just a few. This is not to mention triple digit increases that have taken place but not widespread news. Being in business myself it is just gut renching to see these never ending increases.
Posted by B De Gruchy on
I can save them some time : don't put your prices up! Ripping people off with mandatory fees is not the way to behave but quangos can't resist doing it
To place a comment please login

You have landed on the Bailiwick Express website, however it appears you are based in . Would you like to stay on the site, or visit the site?