Acting as a bridge between capital raising in Europe and investment in Africa, Jersey’s combined financial services sector allocated £30.6 billion* of capital from Africa in 2020
Jersey has strong links and is close to the City of London and the EU, giving East African family businesses and financial services professionals easy access to both markets
Jersey has a strong regulatory framework built around governance, tax transparency and compliance, which world-leading organisations recognise.
Private Wealth Expertise
Jersey has more than 60 years of expertise in private wealth management, covering everything from succession planning and trusts to popular foundation structures and estate planning.
For investors: From simple trusts to complex structures, we are well-placed to help the growing needs of investors within the private wealth management sector, administering £1.14 trillion of capital held in trusts and asset-holding vehicles. The Island also has more than 1,200 members of the Society of Trust and Estate Practitioners (STEP) who understand how to manage and grow international wealth. For Kenyan investors who need support with cross-border investment, wealth structuring and succession planning, Jersey offers political and economic stability and a comprehensive legal and regulatory framework.
For Fund Managers: Kenyan clients benefit from a sophisticated legal framework, leading the way in delivering private client services from simple trusts and underlying company structures to high-value and complex structures working with trusts, companies, limited partnerships and foundations for international family businesses.
For Family Businesses: Jersey Firms can support Kenyan family businesses with their wealth management strategies to help grow and protect their wealth for futue generations. From succession planning, family governance within family enterprises, asset management.
Tailored to meet individual needs of family members, the range of family office services available such as providing concierge services or supporting philanthropic ventures, Kenyan family offices can choose to have privacy in Jersey or they can go out and build a network quickly.
For Private Clients: Jersey Finance plays an increasingly vital role in working with and supporting the wealth management strategies of Kenyan private clients providing secure platforms that support future outbound African investment and encourage investors to put their capital to work for the next generation.
For Islamic wealth management: Jersey trusts provide strong support for generational wealth planning, whether for family businesses, or charitable and philanthropic institutions. This is due to the similarity between Waqfs and trusts, together with the jurisdiction’s international reputation for trust management. This offering works well with the Jersey Foundation which provides high-net worth individuals and family members with a positive alternative to trusts. It holds wealth in a forward-thinking structure designed to allow greater control, ensuring that everyone benefits and that family governance is maintained.
Supporting Kenyan Growth and Governance
Jersey has already negotiated a range of international agreements with partners in sub-Saharan Africa, including Double Taxation Agreements (DTAs), Asset Recovery Agreements and Memoranda of Understanding (MoUs) on cooperation and knowledge sharing.
In 2018, Jersey and Kenya signed a bilateral MoU on financial cooperation and opened negotiations on a DTA the following year.
In 2019, financial intelligence analysts from the Government of Kenya’s Financial Reporting Centre (FRC) spent time with the Jersey Joint Financial Crime Unit (JFCU) as part of the Government of Jersey’s commitment to the financial cooperation MoU and to helping Kenya tackle financial crime and corruption.
Jersey has also entered into a ground-breaking multilateral framework with the Government of Kenya, the UK and Switzerland as part of international best practice to return confiscated assets from crime and corruption to Kenya. The United Nations recognised the innovative work undertaken by Jersey – highlighting the cooperation between Jersey and Kenya as important for strengthening good practices on asset return to foster sustainable development.
Why Jersey?
- Jersey’s excellent relations with the City of London mean we’re able to offer a variety of structuring solutions to UK/Africa investments.
- Our tax information exchange agreement (TIEA) network has been developed with various jurisdictions including Kenya and South Africa.
- We are engaging with the African Tax Administration Forum (ATAF) and other international bodies to support Africa in enhancing revenue, raising capacity and tackling issues of financial crime.
- Jersey’s charities law can support philanthropic initiatives to meet the ethical requirements of family members.
- For private sector financing of infrastructure projects, Jersey provides a stable jurisdiction to raise capital
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*Jersey’s Contribution to Global Value Chains, Cebr 2021