Welcome to our new ‘Jersey for Private Wealth’ newsletter
In this quarterly newsletter we will share with you news, views and updates on Jersey’s private wealth sector. These will range from report or product launches and the latest views from Jersey Finance’s senior management team and our industry experts.
At a glance:
International Savings Plans Now Available via Jersey
Thought-provoking Insights into Combatting Illicit Financial Flows
Addressing the Great Wealth Transfer
Gulf Region Focussed White Paper Unveiled at New Dubai Office Launch
CEO Blog: Approaching 2019 With Confidence
New Year Makeover For Our Website
Our Response to the UK Consultation on Registration of Overseas Entities Bill
Effective since 1 January 2019, Jersey is pleased to bring to market an innovative, new product, which has been approved by the Jersey tax authorities – International Savings Plans (ISPs).
ISPs enable multi-national and international companies to set up savings plans in Jersey for non-resident employees.
These plans are designed to be tailored to meet the needs of employer and employee – enabling a payout to employees when their employment ends or on the occurrence of a major trigger event which might include redundancy, ill health or divorce.Read more
Quality international finance centres can help bring knowledge, offer solutions, facilitate investment and play a positive role in tackling the very real problem of illicit financial flows.
We make clear our stance on combatting illicit financial flows in ‘A Clear Direction’ report.Download report
Written in partnership with top law firm, Bedell Cristin, our private wealth thought-leadership report sets out to address the challenges arising from the intergenerational transfer of wealth, dubbed by economists and financial observers as the ‘Great Wealth Transfer’.Read more
Our latest white paper uncovers attitudes towards wealth structuring and the use of IFCs in the Middle East, as the organisation marks a new milestone in the region and becomes the only IFC to set up an office in the Dubai International Financial Centre (DIFC).
The report reflects the views of more than 70 wealth management industry practitioners working in the GCC market during a thought-leadership roundtable held in September 2018 in Dubai.Download report
Geoff Cook writes that Jersey is ready to mitigate the challenges posed by the fallout of Brexit, economic market cycles, social unrest around the world and digital disruption.
In 2019 we expect to see more in the digital space and Jersey capitalise on its growing international reputation – a new office in New York, for instance, will enhance our pan-Atlantic links.Read the blog
Jersey Finance worked with its Member firms and industry to respond to the Department for Business, Energy & Industry Strategy (BEIS) consultation which sets out provisions to establish a new beneficial ownership register of overseas entities that own UK property.
In summary, our response stated that entities registered on Jersey’s central register of beneficial ownership information should either be exempt from the need to disclose information in accordance with the Draft Legislation, or Jersey should be considered to have an ‘equivalent’ register.
Visit our Spotlight On web hub to find out more about Jersey’s position on beneficial ownership.Spotlight On web hub