of jurisprudence - The Trusts (Jersey) Law 1984
formed since the Jersey Foundation was launched in 2009
of the Society of Trust and Estate Practitioners (STEP) (as at April 2020)
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.
Keep up to date on the latest developments with our private wealth factsheets.
- The stability and quality of Jersey’s Trust Law, a template adopted by many other jurisdictions worldwide, remains highly attractive to international private wealth clients
- Since their launch in 2009, Jersey Foundations have become increasingly popular with 391 foundations formed*
- Jersey holds 1,200 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
*Statistic correct as at March 2020 (Source: Jersey Financial Services Commission)
**Statistic correct as at April 2020 (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.
Work
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.
Our positive reputation, wide range of structures and forward-thinking expertise sets us apart as an industry leader in philanthropy.
Jersey’s trust law means we can adapt a range of structures to focus on philanthropic objectives, all offering a degree of flexibility. Our charitable trust is a particularly attractive option. For altruistic, but not directly charitable, objectives (including humanitarian, research and ecological causes), our non-charitable trusts are ideal structures.
The Jersey foundation has become a popular alternative to the trust structure. A foundation can be created for charitable or non-charitable purposes, or a mixture of both.
As well as flexibility, foundations have additional appeal:
- They offer infinite duration
- They’re clearly and unambiguously registered with the Jersey Financial Services Commission
- Their council of members structures are flexible in terms of composition
- They provide a ‘guardian’ safeguard, making certain that the council of members maintain a clear charitable focus
In fact, Jersey Foundations are now so popular that over 370 have been established since their launch in 2009. Around a third of these are set up for philanthropic purposes.
Jersey’s Charities Law
Jersey’s Charities Law, which recently opened for the registration of charities in Jersey, is modern and sophisticated, and caters for the needs of small local charities, as well as global philanthropic enterprises. The frameworks provided by the Law are unique and flexible, whilst they provide appropriate levels of governance and accountability. Read our Charities Law factsheet.
