Jersey's Relationship with the Kingdom of Saudi Arabia

Regional Connections and Saudi Expertise

This brochure highlights some of the reasons why Jersey is a clear choice for Saudi investors. We look at how Jersey firms are using their regional connections and, on the ground, Saudi expertise through their excellent intermediaries, to provide world-class support in areas ranging from Shari’a compliant succession planning to domiciling and structuring complex multi-class, multi-sector and multi-jurisdictional global investments.

Working with Families in the Kingdom of Saudi Arabia

The Island of Jersey is an independent, forward-thinking international finance centre (IFC) located between the UK and France. For decades, families and businesses in the Kingdom have been working with our financial services professionals in many areas.

Private Wealth Management

Succession Planning for Future Generations

Commercial and Residential Real Estate

Why Jersey is a Clear Choice for Saudi Investors

Compared with other IFCs, Jersey’s financial services professionals lead the way in visiting Saudi Arabia and meeting clients face to face. As a result, they have developed strong and lasting relationships with families and businesses in the Kingdom over the years.

Restructuring and Redomiciling Existing Structures

We’re the clear IFC of choice for restructuring and redomiciling existing structures established in other international jurisdictions, and we’re perfectly placed to provide expert support against the backdrop of Saudi Vision 2030.

Tax Neutral Environment

Jersey is proud to have a global reputation for integrity, independence and stability, and offers a tax-neutral environment in which to do business.

Best Regulated IFC

We have been recognised as one of the best-regulated IFCs in independent assessments by some of the world’s leading bodies, including the World Bank and the International Monetary Fund (IMF), as well as scoring top marks from the Organisation for Economic Co-operation and Development (OECD) on tax transparency.

Support

More than 50 Jersey firms are currently supporting Saudi clients with their financial arrangements and strategies.

With representatives from most of these firms including many female practitioners visiting the Kingdom regularly.

Connections

Jersey firms also have very strong links to financial services professionals in central London, including vital connections with private client lawyers.

Stability and Regulations

When it comes to selecting an IFC, Saudi investors focus on a jurisdiction’s stability, reputation and regulatory environment. Tax efficiency and asset protection are also vital considerations. Ticking all of these boxes, Jersey is well placed to support family offices, ultra-high-net-worth individuals and businesses in the Kingdom.

Real Estate

Jersey is the clear choice for real estate structuring, not just for property in London and other cities in the UK, but also for property in North America and Western Europe.

We work with Saudi families and businesses acquiring:

Residential property, structured as buy-to-let or as part of a buy-to-let portfolio
Commercial real estate, including residential towers, student housing, office towers, hotels, warehouses and real estate for ‘last mile’ logistics

Particularly appealing is the fact that it’s often easier to sell commercial property structured in Jersey, which widens the pool of potential buyers. This is largely thanks to Jersey’s reputation as a leading and trusted IFC.

Jersey Private Funds

Jersey Private Funds are also extremely attractive for investments from the Kingdom, especially club investments. This structuring option offers institutional and professional investors a more streamlined and fast-track regime, with tailored ongoing regulatory requirements. Funds for up to 50 investors can be established in as little as 48 hours.

International Savings Plans

Our International Savings Plans are tax-approved schemes for multinational employers. These forward-thinking plans are more flexible than traditional pensions, allowing a pay-out to employees before the standard minimum pension age, either on termination of employment or as a result of a major life-changing event such as redundancy, ill health or divorce. They are ideal schemes for end-of-service benefit payments.

Redomiciling and Restructuring

It’s our first-class reputation and unparalleled levels of expertise that set us apart from other IFCs. Families and businesses in the Kingdom are choosing Jersey for redomiciling or restructuring their international structures. This ‘flight to quality’ is most often seen for structures established in the Caribbean, such as special purpose vehicles (SPVs), and also for structures set up in the 1980s and 1990s in Panama and Liechtenstein, which tend to own assets in the United States.

Family Offices

Jersey is the perfect place to locate a family office, thanks to the extent of our expertise, our favourable time zone and our innovative, forward-thinking services. We have many well-established single and multi-family offices that provide world-class support across a wide range of functions, from wealth management and succession planning to property management and marine and aviation asset management.

Private Trust Companies

Jersey private trust companies (PTCs) are very popular among Saudi families looking to preserve and protect wealth for future generations. Recognising the importance of control and family participation, PTCs allow family members or trusted advisers to become board members alongside professional service providers.

Islamic Finance

We’re a leading Islamic finance centre. Unlike other jurisdictions, we don’t have to amend laws to accommodate Shari’a-compliant structures and contracts, and we have extensive experience in this area. Many Sukuk structures, for example, have been established in Jersey.

Case Studies from Jersey-based Companies

Accuro Trust (Jersey) Limited - Caring for Saudi Families, their Business and their Legacy ›

Accuro is a management-owned multi-jurisdictional trust and private office business. The specialist Middle East team at Accuro strategically consulted with a prominent Saudi family from the Nejd region. The family have a multi-line international conglomerate owned and managed by two generations of the founder’s family.

To read the full case study, click on the PDF link below and go to page 9 of the brochure

Collas Crill - Jersey A Centre of Excellence in Succession Planning, Trusts and Islamic Finance ›

The beneficial owner of a large Saudi Arabian investment management group, and his long-standing Jersey-based corporate service provider, sought advice on establishing a vehicle in Jersey to hold and invest in UK-listed stocks as part of a succession plan for his family wealth.

To read the full case study, click on the PDF link below and go to page 10 of the brochure

Crestbridge - Supporting the Wealth Management Objectives of a Saudi Arabian Family ›

The role played by a Jersey-based specialist family office services firm is well illustrated in relation to a Saudi Arabian family and their international holdings.

To read the full case study, click on the PDF link below and go to page 11 of the brochure

Equiom (Jersey) Limited - Expertise and Experience in Wealth Protection Solutions and Shari'a Compliant Structures ›

In 2018, a wealthy Saudi Arabia-based family wanted to invest in UK commercial property as part of a wider wealth diversification and succession planning strategy.

To read the full case study, click on the PDF link below and go to page 12 of the brochure

Fiduchi Limited - Helping GCC Families with Wealth Structuring ›

Fiduchi has had a presence in the Middle East for more than three years and has serviced clients in the region for over a decade. As an independent Jersey trust and corporate services provider, Fiduchi is ideally placed to assist families, and family businesses, with their structuring requirements, having done so for more than 30 years.

To read the full case study, click on the PDF link below and go to page 13 of the brochure

Highvern - Streamlining Structures ›

Highvern was recently engaged by a member of the Saudi Arabian royal family to assist with refining and streamlining their complex private wealth structures. The client’s wealth structuring took place nearly 20 years ago, with real estate and investment assets added piecemeal as they were acquired.

To read the full case study, click on the PDF link below and go to page 13 of the brochure

Mourant - Creating Bespoke Jersey Trust and Company Structures to Manage International Personal Assets ›

Mourant advised a GCC ultra-high-net-worth individual (UHNWI) on the creation of a bespoke Jersey trust and company structure to hold and manage valuable personal assets situated in various locations in the UK and Europe. A high degree of client and key advisor involvement was required in the design of the structure.

To read the full case study, click on the PDF link below and go to page 14 of the brochure

Oak Group (Jersey) Limited - Governance with Clarity ›

Oak is working closely with a UK-based family office to establish a PTC structure for a significant Middle Eastern family to hold their personal investment assets. They were attracted to the Jersey private trust company (PTC) structure as it allows the flexibility to ring-fence assets in separate trusts for separate family interests under a single corporate trustee. Whilst consideration was given to appointing family office representatives to the PTC board instead, Oak has created a structure with the family office participating in an investment committee alongside Oak’s professional directors.

To read the full case study, click on the PDF link below and go to page 15 of the brochure

Ocorian - Developing Regulated and Compliant Structures for Family Business and Extended Family Members ›

Ocorian reviewed the existing structure thoroughly and following tax and legal advice, established a Jersey private foundation to act as trustee and assist in the migration of the underlying entities to Jersey.

To read the full case study, click on the PDF link below and go to page 16 of the brochure

Ogier - Jersey Discretionary Trust Provides Saudi UHNW and Business Group Flexibility for the Future ›

Ogier’s Private Wealth team advised a Saudi UHNWI on transferring the ownership of the strongest performer in their business group to a trust structure in order to ring-fence its assets and prevent its fragmentation on the client’s death.

To read the full case study, click on the PDF link below and go to page 17 of the brochure

Praxis - Family Governance Bridging Generational Wealth ›

A complex and extensive Saudi family with Egyptian roots, the patriarch had three wives and children living in several different countries, including the US. The patriarch established a franchise business with a significant manufacturing group across the region.

To read the full case study, click on the PDF link below and go to page 18 of the brochure

Downloads

Jersey's Relationship with Saudi Arabia › PDF

Key Contacts

To find out more about Jersey’s IFC and any of the topics discussed in the brochure, please get in touch with Faizal Bhana, Director – Middle East, Africa and India, Jersey Finance:

Faizal Bhana › Director – Middle East, Africa and India, Jersey Finance
email › / profile ›

Faizal is a UK qualified lawyer and for many years has worked and advised, and is a trusted advisor to institutions, corporates and families across the Middle East, Africa and India. Faizal specialises in banking and finance and has advised corporates, family offices and families including on their international investment and holding structures.

Faizal is responsible for developing the strategy for Jersey Finance’s engagement in Africa, the Middle East and India. He is focussed on his key markets, regularly travelling to all these countries, liaising and working with key stakeholders, including public and private institutions, corporates and families, building long-term mutually beneficial relationships.

An Enduring Partnership