A snapshot
Jersey and Guernsey are the two channel islands with a major offshore legal presence. Jersey is larger with an estimated 108,000 inhabitants, and Guernsey with an estimated 67,000. Both islands exhibit their historic connections with France with many Norman French street and place names as well as some elements of the current laws.
By way of example, as recently as 2018, an ancient (possibly 10th century) form of injunction called a “Clameur de haro” was used by a member of the public to halt construction on a road in Guernsey. The claimant must get on their knees in front of at least two witnesses in the presence of the party that is allegedly the wrong-doer, raise their hand and exclaim “Haro! Haro! Haro! À l’aide, mon Prince, on me fait tort“, followed by a recital of the Lord’s Prayer in French and a Grace. This grants an immediate injunction that can only be revoked by a court ruling, although there are penalties for misuse.
Jersey and Guernsey both have a good selection of places to eat, shops and entertainment similar to what one might find in a medium-sized town in England. A short drive out of town and you are in rolling countryside that is a curious blend of that of Southern England and Normandy, as well as breathtaking beaches and cliff walks.
Both jurisdictions work regularly with onshore law firms in London and you will get very high-quality work paired with a good work/life balance and a beautiful environment in which to live. Whilst not having Caribbean temperatures, the climate is generally better than the UK and there are plenty of outdoorsy things to do.
Salaries and Tax
Salaries in Jersey and Guernsey are generally lower than Magic Circle salaries in London, but with a maximum of 20/21% income tax being payable, the post-tax position will put you on a similar level to your post-tax position at a Magic Circle firm at a junior level when salaries are lower and, as you become more senior and your salary and bonus increase, the post-tax position in the Channel Islands will begin to significantly outstrip the equivalent level in London.
Typical NQ salaries in Jersey and Guernsey are around £65k-70k with salaries at the 3PQE level ranging anywhere between £85k-105k depending on the firm and the demand.
Admission criteria
Jersey and Guernsey are fairly open jurisdictions in terms of where they source from. It is common for candidates to relocate from England, Ireland, Scotland, Australia and New Zealand, as well as from South Africa and Canada. There is no need to requalify unless you are a litigator who needs to appear in court or, longer term, you are going to be admitted to partnership. As well as sitting a number of exams, requalification requires the candidate to have practiced in the Jersey for at least 2 years to become a Jersey advocate or one year in Guernsey to become an advocate there.
Market Overview
Jersey and Guernsey are both mature Offshore jurisdictions with a broad range of work undertaken. A great deal of the work originates from the UK, with Channel Island entities being used for Real Estate Investment Trusts, real estate finance, funds, holding structures and many other purposes. The Channel Islands Securities Exchange is regularly used as the exchange of choice to list Eurobonds in Private Equity deals to exempt them from withholding tax, as well as for listing funds, trading companies and specialised debt securities.
Lawyers with Corporate, Finance, Disputes, Funds, Private Client and, occasionally, Real Estate experience are in demand all the way from NQ through to partnership.
Getting there
Jersey and Guernsey both have good transport links to the UK as well as some seasonal flights elsewhere in Europe. In the space of an hour you can have taken off from the Channel Islands, landed at Gatwick and often have made decent progress towards exiting the airport. As well as flights, there are ferries to England, France and the other Channel Islands.
Leisure time and practical information
Again, outdoor activities abound, and there is a real emphasis on people having a good quality work/life balance. Lawyers work noticeably more sensible hours than in London and can enjoy a variety of different pursuits together with fine dining and an environment that may present less of a culture shock than the free-roaming chickens of the Caribbean.
Cost of living is fairly comparable to the UK, but you obviously benefit from lower income tax and there are lower tax rates on some higher-value products like cars, luxury watches etc. Accommodation is good quality, and it should be noted that there are some restrictions on what one can rent depending on salary level and there is a two-tier system of housing comprising of the “Open Market” which are properties anyone can buy without residency requirements, and Local Market properties which are restricted to those with the proper housing qualifications/rights.
Contact us for more information on the Channel Islands, or for a discreet conversation.