1(1)K licences are granted to High Value Residents. There is no prescribed limit on the number of 1(1)K consents the Housing Minister may grant each year, although in practice, the number tends to be small. Each application is considered by the Minister on its own merits, with regard to factors such as:

• The individual's likely contribution to tax revenues.

• The business/social background of the applicant and their likely business activities (if any) in Jersey.

• The number of dependents and the extent to which these persons may in time acquire residential qualifications in their own right, and;

• Other non-economic benefits which the island may obtain if consent is granted.

Successful 1(1)K applicants will retain their residential status as long as they remain resident in Jersey. They may only purchase property which has been classified or approved as suitable for their occupation. In practice, such properties are priced around £1 million or more.