in trusts established by private individuals
formed since the Jersey Foundation was launched in 2009
of the Society of Trust and Estate Practitioners (STEP)
These range from simple trusts and underlying company structures for UK families, through to high value and complex structures working with trusts, companies, limited partnerships and foundations for international families.
The establishment of ‘virtual’ offices for ultra-high net worth families are also available, as are structures for corporates looking to support and reward staff.
- Jersey has £400 billion in trusts established by private individuals*
- Since their launch in 2009, Jersey Foundations have become increasingly popular with 388 foundations formed**
- Jersey holds 1,282 members of the worldwide membership for The Society of Trust and Estate Practitioners (STEP) *^ – one of the largest branches globally
- Jersey Finance hosts an annual private wealth event in London which attracts leading practitioners in this field
*Source: Capital Economics, 2016
**Statistic correct as at October 2019 (Source: Jersey Financial Services Commission)
*^Statistic correct as at October 2019 (Source: STEP Jersey branch)
Jersey is the leading jurisdiction globally for trusts, administering them since the 1960s.
An innovative foundations law has led to the growth in the number of Jersey Foundations. The structure is attractive because of its infinite duration, capacity, clear and transparent registration with the Jersey Financial Services Commission.
Their flexibility means that a foundation can be created for purposes which are charitable, non-charitable, or a mixture of both, with approximately one third being used for philanthropic purposes.
To help us better understand the mindset of today's family office, we worked closely with some local family offices to listen to their personal experiences and to understand the rational behind establishing their businesses in Jersey as a leading international finance centre.