Posted 3/6/11 : Jersey jurisdictional legalization adopted
 
After some time and debate the government of the Channel island of Jersey has finally signed off on legalization allowing the island to become an online gambling licensing jurisdiction.
 
Already a prominent financial centre and tax haven, Jersey will now enter a business sector that could generate millions of pounds for the local economy, according to a report in the publication This is Jersey.
 
On Friday members of the States (parliament) accepted the legalization by a 43 to 4 vote, making it possible for an up-and-running licensing jurisdiction to be operational in as little as two weeks.
 
Internet gambling companies will pay at least GBP35 000 a year for the licence, rising to over GBP 70 000 a year if revenues exceed GBP 1 million, and GBP140 000 if revenues pass GBP6.5 million.