It organises tournaments for small nations which are not recognised by the sport's traditional governing bodies, including the World Football Cup which took place in London this summer.
The new team, which is called Parishes of Jersey and will be based at St Peter FC, could soon be playing international football under that banner.
Several current island players, including captain Jack Boyle, have expressed their support for the project.
It is all part of attempts to provide Jersey's top players with a more challenging and competitive games programme.
Next year Conifa is holding a 12-team European Football Cup in Artsakh in the Caucasus.