The Jersey Foundations Law came into force last month.
Jersey Foundations, a new structure for asset holding, are now available for use.
Unlike a trust, the concept of a Foundation has its roots in civil law, for clients in Europe and the Middle East this new vehicle for use in private wealth management has its own legal personality and is able to transact, hold assets and to sue in its own name.
The authorities in Jersey have anticipated that clients may wish to migrate existing structures to the Island so they can be continued as Jersey Foundations. The law in Jersey facilitates such migration to "recognised entities" for example a Liechtenstein Anstallt or a Panamanian Foundation.
More details of the uses of this new vehicle can be found under our services tab above.
