Jersey has been leading the way in providing attractive and flexible charitable and non-profit vehicles for philanthropic purposes. It has a strong reputation as one of the leading trusts jurisdiction as well as flexible companies legislation, one of the widest available arrays of partnership structures and a popular and innovative foundations law.
Jersey is an ideal jurisdiction in which to establish tax-efficient philanthropic structures. The same benefits that Jersey can offer to facilitate global capital flows arising from business and commerce – tax neutrality, security, expertise and experience, reputation - can and are being applied to philanthropic enterprises and distributions.
The trust law in Jersey allows for a range of structures that can be can be adapted to suit specific philanthropic objectives, offering a degree of flexibility – the ‘Charitable Trust’ being a particularly attractive option. Meanwhile, Jerseys ‘Non-charitable Trusts’ can also be used to focus on areas that may not be strictly defined as ‘charitable’ but may nevertheless be altruistic in nature – for humanitarian, ecological or research causes, for instance.
In addition, since their launch in 2009, Jersey Foundations have become an increasingly popular alternative to the trust structure for those interested in philanthropy. Their flexibility means that a foundation can be created for purposes which are charitable, non-charitable, or a mixture of both. More than 200 foundations have now been established in Jersey since their launch, with around one third being used for philanthropic purposes. The attraction of Jersey Foundations include their infinite duration capacity, clear unambiguous registration with the Jersey Financial Services Commission, the flexible composition of a foundation’s ‘council of members’ and the safeguard of the ‘guardian’ ensuring the council of members pursue the charitable objects of the foundation.