Markets

North America

The Island of Jersey has been working with organisations and individuals in North America over many years. Our unique shared history, going back to the 17th Century, is evident both in name and commonality, and this is particularly resonant for clients in the region.

 

Although Jersey is relatively small, our financial services industry makes a significant impact. The Centre for Economics and Business Research (Cebr) has examined Jersey’s contribution to global value chains, looking at the work that Jersey firms carry out, and the respective impact on investment flows and economic activity. Cebr found that Jersey supported 318,000 jobs in North America and $33 billion of GDP on average annually between 2017 and 2020, through global value chains.

Philip A. Pirecki

Key Contact
Philip A. Pirecki › Jersey Finance Lead in the Americas
email › / profile ›

Overview Latest
In brief Jersey is the ideal gateway to Europe for US fund managers. In the past five years, assets under administration in Jersey by US promoter origin were up 106%.

Access to Europe through the National Private Placement Regimes using a Jersey manager is a well-established model offering clear advantages. Watch our US video to learn more. A recent amendment to Jersey’s legislation means that it is now significantly easier for managers to migrate limited partnership fund structures to Jersey. Read our factsheet on migrating limited partnerships. We also have a more general factsheet for US fund managers on how Jersey is a gateway to Europe, as well as a ‘Jersey for US Fund Managers’ brochure.

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We work with a whole range of national and international financial services firms based in Jersey. Browse our business directory for more information, or to search for a specific organisation.

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A Global Hub

For decades, Jersey has set itself apart as a reputable, centrally located jurisdiction for investors from key global markets. Jersey provides excellent third country access to the EU market through the use of NPPR to non-EU countries.

Speed to Market

The process, including regulatory applications and approvals, takes weeks not months, with the regulator committing to approve this type of fund launch in six weeks.

Cost effectiveness

offers better returns: Jersey’s streamlined regulatory regime can result in lower running costs and higher investor returns in a jurisdiction free from value added tax (VAT).

Regulatory certainty and innovation

The JFSC is an approachable, globally respected and co-operative regulator, supervising pragmatic regulation that meets international standards (the International Monetary Fund, the International Organisation of Securities Commissions, the European Securities and Markets Authority and the Financial Action Task Force).

Tax simplicity

Jersey offers a tax-neutral environment with no VAT or capital gains tax (CGT) and is not reliant upon a complex system of tax rulings, exemptions and deductions, hybrid financing or double tax treaty networks.

Political and economic stability

Jersey is a politically and fiscally autonomous and stable British Crown Dependency with a secure, special relationship with the United Kingdom (UK), but outside of the UK and outside of the EU. We are therefore perfectly positioned post Brexit, as the UK and EU work through the semantics of their new Trade and Cooperation Agreement and become accustomed to their new working arrangements, and beyond.

Remuneration

To obtain a full AIFMD ‘passport’ in Europe, the manager is required to disclose remuneration details of key employees including partners. If a US manager does not need to market on a pan-European basis, there is no great benefit to an AIFMD passport and a lighter approach is permissible under the NPPR.

Our Work in the North America region

  • Fund managers find Jersey’s forward-thinking funds regime highly attractive when seeking to market into the EU via the popular path of National Private Placement Regimes
  • We’re able to work within a range of finance disciplines, sensitive to local dynamics, economies and cultures. Compared with other IFCs used from North America, we offer a breadth of choice and sophistication, with clients attracted by the quality of Jersey’s fund administrators and that of our regulatory framework
  • We support inward and outward foreign direct investment (FDI) and are the tax neutral jurisdiction of choice for structuring investment into the UK and EU
  • We assist in family wealth management and pre-IPO planning
North America Factsheets ›

Keep up to date on the latest developments with our North America related factsheets.

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Work
Jersey for US Fund Managers
In this publication we discover why Jersey offers a clear choice for US fund managers.
Read Now ›
Work
The Future of International Fund Domiciliation 2021
This report sums up research conducted by IFI Global, and supported by Jersey Finance, to explore post-pandemic fund domiciliation trends. It’s based on the views of alternative managers, law firms and advisors from across North America, Europe and Australasia, including some of the world’s largest investors in alternatives.
Learn more ›

Working Together

Community of Interest Group
Join our North America Community of Interest Group

Our business development directors provide bi-annual updates on North America business development activities, events, visits and other marketing activities to our Community of Interest Group, which comprises of professionals in Jersey Finance Member firms who are focussed on doing business in North America.

To find out more about joining this group, please contact: jersey@jerseyfinance.je

Meet Phillip Pirecki

Get in Touch to Learn How Jersey Can Support Your Business

Our Team
Philip A. Pirecki
Business Developments - The Americas.

Philip joined Jersey Finance to oversee business development in the Americas. Born in Jersey but based in New York, Philip has more than 20 years of professional experience in investment banking, investment management, consulting, auditing and accounting.
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