They like to use various impressive terms to make themselves sound important.
How about 1(1)K or HNWI? The latter meaning High Net Worth Individual which gives an impression of value more than mere money. 1(1)K means nothing except someone who can buy an expensive property & will be a valuable addition to Jersey's growing SE (social elite) community & hangers-on.
The official government line is these people pay a lot of tax, provide lots of jobs & Jersey would sink below the waves without them.
In reality they pay NO TAX, bring their own people with them & Jersey would be a lot better off without them.
The main damage they do is help to hugely inflate the value of ALL property in Jersey to such an extent that now a small 3 bedroom house costs £500,000.
Taxwise they ALWAYS come to a special arrangement with the treasury & pay NO TAX with the official government explanation that it would be IMMORAL for them to pay because they bring so much value to the island in entrepreneurial skills, industry & employment.
Absolute rubbish, this pathetic excuse that these millionaires are all fine philanthropists is as sad as the politicians who make it.
In reality a KK may employ a few locals for minimum wages but they mainly have their own JK's & are really here to EVADE PAYING any TAX anywhere!
As a sideline a very popular activity for KK's is high value property development, especially on Green or Environmentally Sensitive land.
Make no mistake Jersey, whether you are a low paid local or a low paid immigrant, KK's are not here for your health & if you don't already own a home you never will!
How about 1(1)K or HNWI? The latter meaning High Net Worth Individual which gives an impression of value more than mere money. 1(1)K means nothing except someone who can buy an expensive property & will be a valuable addition to Jersey's growing SE (social elite) community & hangers-on.
The official government line is these people pay a lot of tax, provide lots of jobs & Jersey would sink below the waves without them.
In reality they pay NO TAX, bring their own people with them & Jersey would be a lot better off without them.
The main damage they do is help to hugely inflate the value of ALL property in Jersey to such an extent that now a small 3 bedroom house costs £500,000.
Taxwise they ALWAYS come to a special arrangement with the treasury & pay NO TAX with the official government explanation that it would be IMMORAL for them to pay because they bring so much value to the island in entrepreneurial skills, industry & employment.
Absolute rubbish, this pathetic excuse that these millionaires are all fine philanthropists is as sad as the politicians who make it.
In reality a KK may employ a few locals for minimum wages but they mainly have their own JK's & are really here to EVADE PAYING any TAX anywhere!
As a sideline a very popular activity for KK's is high value property development, especially on Green or Environmentally Sensitive land.
Make no mistake Jersey, whether you are a low paid local or a low paid immigrant, KK's are not here for your health & if you don't already own a home you never will!
