JERSEY’s high-value residency scheme is often judged by how many wealthy applicants it attracts – but newly released figures show a quieter churn beneath the headline numbers, with around 100 people having left the programme in the past decade.
New data published this week has revealed that while 184 high-value residents have arrived in Jersey since 2016, 104 have also exited the scheme in a potential sign of the competition Jersey is facing to retain its most affluent residents.
There are currently 233 2(1)(e) residents living in Jersey.
Chief Minister Lyndon Farnham said the scheme – which has been in place since the 1970s – has grown in a “modest and controlled” way, averaging a net increase of just eight residents per year over the past decade.
He described it as “measured and balanced in practice”, with some residents leaving the Island or exiting the programme over time – averaging a net increase of eight people per year over the last decade.
But former chief minister Kristina Moore told the JEP she thought the exit figure was “proof that this is a highly mobile sector and one that is very sensitive to competition”.
“There are many countries that offer different environments for people who are entrepreneurial and seeking a different lifestyle, different business environment, all around the globe,” she said.
“Naturally we have a very good offer, because we are a very safe community, we are well positioned geographically and we have a solid and dependable tax structure along with a strong level of professional services,” Deputy Moore continued.
“But people are looking for different things and, for anybody who doubts that they [high-value residents] are a highly mobile group of people, I guess that figure proves that they are.”
The latest figures – which were released following a question from Deputy Jonathan Renouf – showed that 37 high-value residency applications were accepted in Jersey in 2025.
“When the scheme was established in 1974, the aim was it would result in 15 housing consents per year for people arriving and settling in Jersey. This objective was reaffirmed in 2005 and remains in place,” Deputy Farnham said in his written response to Deputy Renouf.
The Chief Minister continued: “However, a number of individuals also leave the scheme each year. The overall benefit and impact is more clearly illustrated in the net number of new arrivals. Over the past ten years this has averaged at an additional eight people per year.”
Those applying to the programme must have an annual worldwide income of £1.25 million, personal wealth of more than £10 million in assets and generate an annual minimum tax contribution of £250,000.
On arrival to the Island, they must either buy a house over £3.5 million or an apartment worth more than £1.75 million.
A range of other “qualifying factors”, including charitable work and contributions, can also be taken into account.
The current “minimum expectation” of charitable giving is £100,000 per year.
Responding to questions from the JEP, Deputy Farnham stated: “The High Value Residency scheme supports economic and social benefits to Jersey.”
He continued: “Over the past decade, the scheme has approved an average of 18 applicants each year. However, the overall High Value Residency community has increased by only eight people per year on average.
“This demonstrates that the scheme is measured and balanced in practice. While new residents are welcomed, others leave the Island or exit the scheme over time, meaning growth remains modest and controlled.”
But Deputy Renouf, who has previously sought clarification from the government about its approach to the scheme, said he still had “serious concerns” that the stated objective of 15 approvals per year was “no longer being followed”.
“The public deserve clarification on what exactly the policy is and the numbers being targeted.”
Deputy Renouf acknowledged the distinction between actual and net arrivals, but added: “It’s important to remember that people who leave the scheme do not necessarily leave the Island, some may just change their status.
“We have no control over the number who leave, whereas we can control the number who come in – therefore targeting the number of approvals is the appropriate mechanism.”
Deputy Renouf argued that the government should “stick to” its aspiration of 15 approvals per year but with “flexibility to allow more one year and less another year”.
“A rolling average basis is fine – I’m not arguing against HVRs. I just think that the numbers do need to be controlled, because while they bring benefits there are also some potential downsides. Controlling the numbers is one way to stay on top of that.”
An article published by The Times last year, entitled ‘Why Britain’s billionaires are fleeing to Jersey’, attributed the increase in high-value residents moving to the Island to rising taxes for the rich being implemented by the UK government.
Oliver Rodbourne, head of Channel Islands in Knight Frank’s country department, said the company was continuing to see “genuine” interest in Jersey from those moving from the mainland.
“There will be people who are looking to move to the Island most likely within the next 12 months,” he added.
Applications, arrivals and departures from the scheme since 2020:
2020 – 20 approvals, 15 arrivals, 14 departures from the scheme
2021 – 23 approvals, 28 arrivals, 16 departures from the scheme
2022 – 9 approvals, 11 arrivals, 14 departures from the scheme
2023 – 29 approvals, 16 arrivals, 13 departures from the scheme
2024 – 18 approvals, 11 arrivals, 10 departures from the scheme
2025 – 37 approvals, 29 arrivals, 11 departures from the scheme
