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Becoming a Jersey Foundation by Marc Guillaume
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Jersey Foundations |
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Authors: | | Marc Guillaume |
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Dec 2009 |
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| Synopsis: |
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On 17 July 2009 both the Foundations (Jersey) Law 2009 (the “Law”) and the Foundations (Continuance) (Jersey) Regulations 2009 (the “Regulations”) came into force.
Their combined effect has been to:
• permit the establishment of foundations in Jersey;
• allow Jersey companies to become Jersey foundations;
• allow certain foreign vehicles to “continue” as Jersey foundations (effectively inviting existing entities to migrate to Jersey to take advantage of the newly created foundations regime);
• allow Jersey foundations to continue as certain types of foreign entity (mirroring the continuation into Jersey provisions).
The purpose of this article is to examine the process by which foreign vehicles may become Jersey foundations and to ask the obvious questions of interest to industry professionals and their clients in this regard, namely (i) which foreign entities may become Jersey foundations, (ii) how cumbersome is the process of making the change, and (iii) how much is it likely to cost?
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| Practice Area: | | Corporate & Commercial, Private Client & Trusts |
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| Jurisdiction: | | Jersey |
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| Download: |
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File size: 202 KB - Number of pages: 4 |
For more information download: Becoming a Jersey Foundation.
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